ASSIGNMENT OF PERSONAL FINANCIAL PLANNING TOPIC

:

Prepare a list of personal and financial information for yourself and family members. Also create a list of financial service organizations that you use. Set financial goals related to various current and future needs. Monitor current economic conditions (inflation, interest rates) to determine possible actions to take related to your personal finances.

SUBMITTED

BY:-

Ashutosh Basotra R1813 A “22”

About my family:

.  Brother:.000 Total = Rs 82.000  Mother= Rs 30. Financial service organizations that we use: Indian Postoffice Savings:- Monthly Income Scheme (MIS):- Period of maturity of an account is six years.  Father:.000  Brother=Rs 20. In addition.is also an Advocate in J&k High court.is an Advocate in Jammu and Kashmir High court.  Long term : In starting 2016 there will be marriage of my brother so for this we will need more money. Mother:. Income of my family: Father =Rs 32.000 Financial Goal  Short term : In July 2011 I will start doing my MBA and for this I will need around Rs 1lakh for my admission and tuition fees.is working as a government employee in Fishres Department. bonus equal to five percent (5%) of the deposited amount ispayable at the time of repayment on maturity. • • Interest @ 8 per cent/ per annum.

an amount equal to two percent (2%) of the deposit shall be deducted and remainder paid to him and (ii) If the account is closed after expiry of three years from the date of opening of such account an amount equal to one per cent of the deposit shall be deducted and remainder paid to him. Premature closure facility is available after one year subject to condition.to 500/Convenient and easy to operate account to save time and money. (i) If the account is closed on or before expiry of three years of opening of such account. • • • Interest is available on this scheme @ 8%. as amended from time to time. such interest will not earn any additional interest. Fixed deposit . (A) National Saving Certificate(NSC):- • Period of maturity of a certificate is six Years. Suitable for irregular income groupNo time bar on depositing or withdrawing money.5% Account can be opened with a minimum initial deposit of 100/.• • If the interest payable every month is not claimed by a depositor. compounded half-yearly Interest accrued on the certificates every year is liable to income tax but deemed to have been reinvested. • Income tax relief is available on the interest earned as per limits fixed vide section 80L of Income Tax.  General Provident Fund • Interest rate is 9%  J&k Bank Saving account • • • • Interest rate 3. Premature encashment of the certificate is not permissible except at a discount in the case of death of the holder(s). forfeiture by a pledgee and when ordered by a court of law.

each.a. for 500 days for normal deposits 10% p.25% A unit based scheme where deposit is held in the units of 500/.580- .000/month) Rs 60.a.25% p. It enables the depositor to withdraw any number of units during the currency of the deposit but not before completion of 45 days in the event of an exigency.f January 04.39.000/month) • National saving certificate@ 8% Rs 48. for 1100 days and 9.000 • J&K saving account@ 3.e.965/month) Rs(2.000 • General Provident fund @9%(Rs 5.• • • • Interest rate 8.5%(Rs 19.a.000 • Post office monthly income scheme@8%(Rs 4. Interest accrued on quarterly basis with compounding effect. 2011 .75% for 500 days for senior citizens w.00% p.  Birla Mutual Fund • • Birla Sun Equity B-G Current NAV is 269  IDBI Bank Fixed Deposits Interest Rate • • • IDBI Bank revises fixed deposit rates at an attractive interest rate of 9. for 1100 days and 9. 2011-2012 Personal finance plan Financial Servives Total(yearly) Rs 48.

20.000 • Mother pocket money (5.000 • Brother pocket money (45.e 4035/month) 2012-2013 Personal finance plan .420 SIP(15UNITS * 269 i.00/month) Rs 54.000 • My pocket money(5.1.000/month) Rs 60.00/month) Rs 54.50.000 for MBA fees) • Car Loan installment (45.000 • Birla (equity B-G) mutual fund under Rs48.000 • Dad pocket money(10.000/month) Rs 60.000/month) Rs 72.000 • Home expense (10.000/month) Rs 1.

000/month) Rs 48.000 from saving account and we will deposit in IDBI Bank @ 9.000/month) Rs 60.39.e 1100 days + Financial Services Total • Post office monthly income scheme@8%(Rs 4.000 .000/month) Rs 60.000 • National saving certificate@ 8% Rs 48.000 • Dad pocket money(10.5%(Rs 19.000 for MBA fees) • IDBI fixed deposit @9% for 2 yrs Rs 50.000/month) Rs 72.000/month) Rs 1.20.000 • Mother pocket money (5.000 • Home expense (10.965/month) Rs(2.000 • General Provident fund @9%(Rs 5.25% for 3yrs till Jan 2015 i.In the year 2012 we will withdraw Rs 50.00/month) Rs 54.000 • Car Loan installment (45.50.000 • J&K saving account@ 3.580-1.

000 • My pocket money(5.000 .000 from saving account and deposit with J&K Bank @ 8.00/month) Rs 54.000 • Birla (equity B-G) mutual fund under Rs48.000/month) Rs 60.000 • National saving certificate@ 8% Rs 48.000/month) Rs 48.25% for 2yr+ Financial Services Total • Post office monthly income scheme@8%(Rs 4.• Brother pocket money (45.000/month) Rs 60.420 SIP(15UNITS * 269 i.e 4035/month) 2013-2014 Personal finance plan In the year 2013 we will withdraw Rs 50.000 • General Provident fund @9%(Rs 5.

00/month) Rs 54.5%(Rs 19.420 SIP(15UNITS * 269 i.20.000/month) Rs 1.00/month) Rs 54.000 • Home expense (10.000/month) Rs 60.e 4035/month) .000 • Car Loan installment (45.000 • Birla (equity B-G) mutual fund under Rs48.000/month) Rs 60.000 • Mother pocket money (5.• J&K saving account@ 3.39.25% for 2 yrs Rs 50.580) • J&K fixed deposit @ 8.000/month) Rs 72.000 • Brother pocket money (45.000 • My pocket money(5.965/month) Rs(2.000 • Dad pocket money(10.

000/month) Rs 72.000 • Home expense (10.580) • J&K fixed deposit @ 8.000/month) Rs 48.000 • J&K saving account@ 3.000 with J&K Bank @8.2014-2015 Personal finance plan In the year 2014 we will withdraw Rs 1.50.000 • National saving certificate@ 8% Rs 48.965/month) Rs(2.00/month) Rs 54.000 .25% for 2 yrs Rs 50.39. 50.000 • IDBI fixed deposit@9% for 2yrs Rs 1.000 from saving account and deposit with IDBI Bank @9% for 2 yr+ and 50.000 • General Provident fund @9%(Rs 5.000 • Car Loan installment (45.25% for 2yr+ Financial Services Total • Post office monthly income scheme@8%(Rs 4.5%(Rs 19.000/month) Rs 60.

20.000 from saving account and deposit with IDBI Bank 8.00/month) Rs 54.000/month) Rs 1.5% for 1yr+ .000 • Mother pocket money (5.420 SIP(15UNITS * 269 i.000 • Birla (equity B-G) mutual fund under Rs48.000/month) Rs 60.000 • My pocket money(5.000/month) Rs 60. 50.e 4035/month) 2015-2016 Personal finance plan In the year 2015 we will withdraw Rs 1.000 • Brother pocket money (45.• Dad pocket money(10.

00/month) Rs 54.000 • National saving certificate@ 8% Rs 48.000/month) Rs 60.000 • Car Loan installment (45.000 • Brother pocket money (45.000 • General Provident fund @9%(Rs 5.000/month) Rs 72.000 • Home expense (10.50.5% for 1yr+ Rs 1.5%(Rs 19.580) • IDBI fixed deposit@8.20.965/month) Rs(2.000/month) Rs 60.Financial Services Total • Post office monthly income scheme@8%(Rs 4.000 • Mother pocket money (5.000 .000/month) Rs 1.000 • Dad pocket money(10.39.000 • J&K saving account@ 3.000/month) Rs 48.00/month) Rs 54.

50. .000 • Birla (equity B-G) mutual fund under Rs48.000/month) Rs 60.000 from saving account .e marriage of my brother We break our fixed deposit accounts that we have deposited with IDBI and J&K Bank and we will redeemed some of our units of mutual funds .420 SIP(15UNITS * 269 i.• My pocket money(5.By withdrawing Rs 1. • Long term:.e 4035/month) ACHIEVEMENTS OF OBJECTIVE:- • Short term:.50.To achieve long term objective i.000 from saving account in 2011 for my MBA fees and in the next year there will be withdraw of Rs 1.

Master your semester with Scribd & The New York Times

Special offer for students: Only $4.99/month.

Master your semester with Scribd & The New York Times

Cancel anytime.