What is Financial Security and Financial Security tools?
Your Financial Security is…..
“Financial security means a lifelong regular monthly income which takes care of expenses for essential necessities like , grocery/food, house rent/EMI, utility bills, house taxes, kids school fee, daily travel, medical, life & health insurance premium, etc. This monthly income you should get without doing any active work apart from your regular salary./active work”
This financial Security can be achieved by normal regular earnings. You need to regularly save and invest your money for longer period. Then your investments start generating income which will be your Financial Security.
Let’s take example, a person is having monthly basic expenses is around Rs 43,000/- per month. The below investment made by them are generating monthly income of 43k per month.
If you want to create this earning then you need to regularly monitor your financial security status for which you need a mechanism by which you can monitor for longer period. Also it must be offline so your data will remain confidential with you.
Three tools are enough to plan and monitor your financial Security
1. Financial Security Status Tracker
2. Investment Tracker
3. Financial Security Saving Planner
Tool-1 : Financial Security Status Tracker
This is an pre-designed tool in Microsoft Excel in which by just feeding few details, you will get updated about your Financial Security Status.
This Tracker has 3 sheets inside
- Financial Security Status
- Goals
- Necessity Expenses
These 3 sheets will help you to plan, making goals, calculate necessity expenses and know the status of your Financial Security with milestones.
Two important details are must to use “Financial Security Status Tracker”, one is total corpus amount as on date you have and other is how much income per month your investments are generating. These both the details you will get by “Premium Investment Tracker”
Tool-2 : Premium Investment Tracker
Premium Investment Tracker is the pre-designed Excel tool by which you can get updated about your available corpus amount and how much monthly income your investments are generating. This also help you to organize you money, investment & asset information including investment document management and user ID & password management. Learn more
Tool-3 : Financial Security Saving Planner
To achieve your goal well before the age of 45, you need to plan monthly saving and investing targets for which you need “Financial Security Saving Planner” Excel .
Now you need to calculate what monthly saving target you should keep, every year how much to increase your saving target, till which age you want to achieve & in which year and at what average interest rate you should consider to invest.
This is an incremental recurring deposit calculator by which you can calculate what monthly saving target you should keep, till which age can achieve, in which year and at what average interest rate you should consider to invest.
Why Pre-designed Excel Tools are good
- All tools are offline, hence your confidential data is safe & secure.
- Maintenance Free, No annual maintenance charges.
- You can save in Computer, External Hard Drive and Pen Drive
- You can use these sheet any where as it is offline. No internet connect not required
- Password Protected.
- Simple to use and understand.
- No calculation required as Excel tools are pre-designed. Only to fill the required information.
