Infinite Health and Wealth at VSRK

Infinite Health and Wealth at VSRK

VSRK is acting as a catalyst to promote awareness in managing funds which would cater to both the health and wealth security processes affecting families. An important economic subject of concern which largely affects the upliftment of any individual is health and financial security.

The relationship – financial security, health and happiness

It’s seen that nothing makes people happier or more confident than the satisfaction & contentment of having secure finances. The investors are blessed tremendously with the peace of mind that comes with having the financial basics covered. It’s not only the wealth which induces the feeling of financial security but rather the knowledge of having built a shield of financial protection to defend loved ones against life’s inevitable uncertainty. 

Unplanned financial emergencies

Rainy day savings or an emergency fund, if you don’t have one, start saving now to accumulate at least 6 months’ worth of necessary expenditures. Learn from the Pandemic that could be finding yourself unemployed for a period, huge unexpected medical emergencies or urgently replacing motor vehicle.

Family’s health

The rising cost of healthcare as primary concern of Indians with 63% experiencing high or moderate levels of anxiety over the issue. Additionally, 73% fear from an unplanned medical emergency. VSRK brings the good news that this fear can be eliminated by taking out a comprehensive health insurance policy. The financial risk is transferred to your insurer & that brings the real peace of mind.

Loss of income after death

Hopefully everyone lives a long and happy life but the truth is that nobody is mortal. Getting an insurance and knowing that a lump sum payment would be forthcoming if you came to an early demise is reassuring and the ultimate in protection from beyond the grave.

Protect your estate

One can follow some steps to minimize the amount of inheritance tax payable when one dies. There are other essential to dos such as naming guardians for your children and, for expats, cross-border estate planning issues to take into account, particularly for those with assets in different jurisdictions. Professional advice by VSRK is essential & helpful.

There is a lot that can be done towards your financial security by VSRK. It might be formidable but your one step will amaze you how quickly we will build your family’s protective shield and your peace of mind.

6 Reasons Why We Need a Budget ?

6 Reasons Why We Need a Budget

Judiciously spending your earnings is the quality of a wise and smart financially-sound person. But sometimes, you commit mistakes regarding your expenditure, which leads to a financial loss. The solution to this problem is setting up a budget for your income. A Budget is a common word we know what it means. A Budget is an estimation of your income and expenditure. It creates a way to decide how much to spend and for what purpose. By creating a budget, you formulate a plan for spending your income. It is indispensable for your financial stability to ensure a steady income and check all your expenses. We have tried to enlist some reasons why you need to prepare a budget for yourself.

1.Helps to figure out your goals:
Establishing a budget helps you to keep an eye on long-term goals and work on them. If you aimlessly lose your money now and then, you will end up with no savings and no financial security. If you want financial security for yourself and your family, you should maintain a budget.

2.Ensure optimum spending:
Budget controls your pocket. It stops you from being extravagant in your spending. Also, it ensures you do not spend money that you do not have. People often spend higher than their earnings and owe it all to credit cards. People who overspend often fail to realize the overspending until they are in debt. However, if you create a budget and stick to it, you will never find yourself in such a situation.

3.Helps to lead a happier retirement:
It is good that you spend your money on the limit, follow a proper budget & you will be debt-free, but something more is as necessary as these habits. It is your future you need to spend wisely today but equally essential to save it for the future. A budget can help you to do that. You should also include investments that will lead you to a happy retirement life ahead.

4.It prepares you for emergencies:
Life is unpredictable and full of surprises, a few sweet and some bitter ones. Emergency encompasses situations like sickness, hospitalization, accident, lay off, divorce or death of someone in the family. This situation leads to financial urgency, which is the reason why you should have an emergency fund. Your money or budget must contain an emergency fund that includes a minimum of four to six months’ living expenditure. It will ensure you don’t suffer from debts after a life crisis.

5.Throws lights on your spending habits:
Forming a budget encourages you to take a complete look at your spending habits will realize you are wasting your money on the material you don’t even need. Do you need four pairs of slippers/ or 15 shirts of the same color? A Budget makes you rethink your expenses and focus on a financial goal.

6.Helps in making you burden-free:
How many nights have you spent thinking about paying the bills, how to deposit your child’s education fees number of people who lost their peace over these tensions allow their money to make them a puppet. When you form a budget wisely, you will never have to lose your sleep over financial issues.

These were a few key points, several more advantages of making a budget and strictly following it. You can ensure financial security today and the future by strictly following the above suggestions.