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.
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.
PPF Benefits 1. Loan against PPF If you take a loan against your PPF, this is 1% above the interest that you get in your PPF account. This has been reduced from 2% to 1%. Interest is levied from 1st day of the month in which loan is taken to the last day of the month in which last installment is paid 2. Premature closure of PPF account If you would want to close your PPF account prematurely, you need to fill Form 5 for this.