SSY Benefits 1. Account opening The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years . You can open only one account in the name of the girl child . Natural or legal guardian of a girl child shall be allowed to open the account for two girl children only (exception for twins)
Monitoring helps you determine exactly when a goal is on track. It provides you a feedback which incorporated allows you to make rectifications and therefore achieve your goals which you have laid out earlier. Feedback is important as it could tell you whether the path that you have chosen to achieve your goals is correct. It is a vindication of some sort. A reality check. It gives you an opportunity to correct your deviations and take you towards your goal.
What are goals ? As an individual / family, you have a vision or a personal objective/s that you would like to meet in your lifetime . Some / all of these objectives may need to be financed . Therefore having a goal makes sense. Goals have to be SMART . Create a plan to achieve your goal Execute the plan. Examine results of your execution.
Emergency fund as the name suggests is the money that you would touch when you have an emergency. Emergencies could be : Medical Emergency Job loss etc… What is an emergency fund ? Emergency funds help you take care of the financial aspect of the emergency. During COVID-19, there were many people who have lost jobs. Job loss could be reasons out of your control and therefore it is imperative that you are prepared for it.
November 2002 - I boarded the train from Mumbai to Pune to take up my first job. Net income was Rs 15,000/- We were working in one of the top IT service companies and quite excited. I used to meticulously write my expenses on daily basis. Very soon, I had made some good friends. I was eating out regularly. There was one late night movie every week, parties during the week.