Cash is a very important aspect of our daily lives apart from cards and online transactions. Handling our cash (and money) effectively is imperative. This is precisely why Smart Financial Advisor Kuber Mindz is curious if you plan your finances well, more specifically cash planning.
If you haven’t heard the term “Cash Planning”, you don’t have to beat yourself up. Cash Planning is not a challenging scheme one would undertake in grim situations. Cash Planning is something even an amateur individual can do provided such a person is serious about his/her finances. Families and Corporate do cash planning to maintain their finances.
What is Cash Planning?
Cash Planning means managing money in layman terms. It is the central point of finance functions. India’s Best Free Online Cash Planning Financial Advisory Portal Moneymindz says that an individual who has seriousness regarding his/her finances would be doing cash planning systematically.
Planning a Budget makes Cash Planning easier. It contains your regular income, expenses, savings, investments, financial goals and the time frame you need to achieve each financial goal. This makes sure you find it easier to know in which direction you are headed you. They are all charted together so as to help you aim your increase in savings and investments apart from clearing debt (if any).
Features of Cash Planning
Cash Planning and budgeting gives you a plan to work on so that you know where you are headed to and how long it will take to reach if you continue with the same speed you as of today.
- Cash allocation
Cash Planning and budgeting means you allocate money. For instance, you might keep 50% of your income as savings (and investments) and spend the remainder for other expenses.
Cash planning and budgeting enables you to be clear on your finances. Being clear helps you focus and prioritize.
Merits of Cash Planning
The income, expenses, savings, investments and financial goals will literally be in front of you. Cash planning and budgeting conceals nothing about your finances.
- Realistic expectations are set
Without Cash Planning, you may set unrealistic expectations and goals. Cash Planning helps you decide goals and desires based on how realistic they are.
- Monitor expenses
Cash planning helps keep an eye on your expenditure so that you don’t have to live paycheck to paycheck.
For more information visit www.moneymindz.com or give a missed call to 022-62116588