Post 14: Last day of FY 2016-17

Today, most of us are busy with their Accountant on balancing out Inflow and Outflow of financial activities whereas some are still busy looking out options for saving taxes for the next year.
But due to lack of time and knowledge, most of us stuck into those Financial Instruments which either block our funds for long-term with less liquidity or turns into a loss-making asset after a year.

So, what to do? How to tackle this last moment urgency? 

Tomorrow with the beginning of New Fiscal Year i.e. FY 2017-18, our #WiseSurya has come with following Seven steps which not only help us in managing financial transactions but also makes our financial journey easy.

  1. In the first step, record all your inflow and outflow transactions in an Excel Spreadsheet of your desktop/laptop. If you didn’t have access to laptop everytime then use your smartphones which support Excel Spreadsheet software.
  2. Once you started with Spreadsheet, then keep consistency in the recording of each transaction.
  3. Try to give an hour daily for monitoring of all such recorded transactions. It helps in popping out of useless expenses.
  4. In the next step, create another worksheet in the same spreadsheet & name it to ‘Investments’.
  5. In the Investments Worksheet, record all your existing investments with their Purchase value, Market Price, Allocated Quantity (ies), and Benefits (Short Note) in a separate column of the sheet. Also, write a comment with the purpose of making such investment decision. 
  6. After the recording of all the investments, do a regular check-up either after each quarter of the Financial Year or semi-annually or yearly as suggested by your advisor.
  7. And at the last, secure the spreadsheet with an encrypted password of your choice just like you have the Debit card and Email password.

Now, in the last month of every Financial Year, contact your accountant for the filing of the Income Tax. 

And for the investments, always contact to a Financial Planner/ Investment Advisor who charges a fee not the commission for his/her advisory services.

“In the beginning, it might be hard to do all such things but once it becomes your habit then the journey of your Financial Wellbeing becomes easy.”

Note: These steps will help you in managing your investments & other important financial transactions. These steps do not suggest you any investment avenues.  For investments kindly, contact to your existing Financial Planner or you can directly mail to us.
We’ll be happy to help you!


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