If you belong to a middle-class Indian then you are most affected and If you belong to middle-class Indian then you are the most affected and the most aspiring section of this country. You are most affected because you are the one who loses most jobs in economic downturns.

You are the one whose monetary stability gets wedged with inflation. You are the one whose life can take a turn with any change in government rules.

You are the most aspiring because, one who is behind the progress of the country. You are the one who always on the lookout for a better lifestyle. You are the largest group of buyers and the biggest influencing factor behind any company policy.

When you are playing such a multi-factor role in a developing nation, you are bound to struggle with your finances.

Whether it is an economic downturn or inflation or change in tax policies or dream of a better lifestyle or being a target group of advertisers, all affect your financial life. But if you can create a financial system and automate it then you can easily sail through all these challenges.

Here is how to do it

You are the CEO of your life and each month you need to fund different departments of it.

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Major departments of your life

Department means the different factors which demand your financial attention.

For Example

• Utility and non-negotiable expenses

• Financial freedom department

• Travel department

• Leisure department

• Emergency department

Each department has different sub department's like Utility and non-negotiable expenses can have sub department's like EMI's, Groceries, Fuel and more.

Further, these department's deleted and added depending upon what stage of life you are. For example, if you have kids you can add a department for their education, or if you want to buy a home and you can simply add home department priorities to fund most.

Prioritize the department

Once you are aware of the major departments of your life, you need to prioritize them based on the importance they hold in your life. You decided to fund more for the most important one.

For example

• Priority 1- Financial freedom department

• Priority 2- Emergency department

• Priority 3- Utility and non-negotiable expenses department

• Priority 4- Travel and Leisure department

Similarly, you need to prioritize different departments of your life based on your aims and hobbies.

Allocate fund to each department and coordinate between them

Based on the income you receive every month, allocate the fund to each department. Any department is permitted to spend only the allocated fud to it.

In case one department is out of funds, it can easily take help out of the department only if you have created a relation between them.

First, you have to create the department's, then prioritized them and allocated the funds, you also need to automate the system. Automation makes sure that you being the CEO can take care of other factor's life.

Day 1 of the month - Allocated funds automatically transferred to financial freedom and Emergency.

Day 2 of the month - Allocated fund transfer to Travel and leisure department.

Day 3 of the month - Sub-department EMI is funded. The rest of the amount is kept for the utility department.

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Conclusion

I suggest you divide your life into major departments and create a system to allocate them money automatically every month.

I bet after doing it, you will be able to tackle more than 99% of your problems.

Financial Tips For Middle Class People In India - instantemo