• 16 MAY 2017

    5 Powers In Your Salary

    There is always a sense of joy on getting the salary credit message from the bank. Often, you wish to splurge it all on in obtaining instant gratification but this will threaten your long-term financial security. By following few basic steps, you can ensure financial stability along with short-term satisfaction.

    Your salary has 5 hidden powers:

    1. Living Expenses

    The cost of living is increasing day by day. Living expenses will occupy a major chunk of your salary. Set aside 50% of your salary for this; this will include your rent, paying the bills, and food. Ideally, try spending less than 50%; once you get into the habit of buying things which you need and not which you want, your expenditure will decrease significantly.

    1. Savings

    You must allocate a minimum 25% of your salary to your savings as this is a crucial step towards ensuring a financially secure future for you and your family. In the initial stages, allocating 25% of your salary to your savings may be difficult, but with time and self-restraint, you will find it easier to save money. Remember, to save first and spend later. Your savings should be invested to get optimum protection and returns on it.

    1. Education

    With a population of over seven billion plus, there is immense competition in every field. There is a need to be better than the rest, to stand out in the crowd. This is why education has become very important today. Every parent strives to get their child the best education that there is. As a result, due to the increasing demand, the cost of educating a child has increased significantly. Ideally, you should allocate 10% of your income for the education of your children.

    1. Recreation

    Since you have been working so hard to provide for yourself and your family, you deserve to indulge in little joys such as weekend trips and dining in your favourite restaurant. Life isn’t all about work; you should enjoy your life too and paint it as a canvas exploding with bright colours. Set aside 5% of your salary for your enjoyment.

    1. Insurance

    The remaining 10% of your salary should go towards securing the future of your loved ones in the unfortunate circumstance when you’re not there to take care of them. Insurance takes care of the financial well-being of your loved ones when you’re not there.

    Also Read:

    Step By Step Guide On How To Buy Term Insurance Online

    The Secret To Live A Happy And A Stress Free Life

    Top Life Insurance Terms Explained

    How Does The Process Of Buying Life Insurance Online Work?

    Most Commonly Used Terms Life Insurance

    Know More About Edelweiss Tokio Life Insurance: https://www.edelweisstokio.in


    • Leave a Reply
  • 24 DEC. 2018

    Reasons why life insurance makes a perfect Christmas Gift!

    You may have gifted accessories, clothes, and even gadgets in the past but how about gifting a promise that secures your loved ones forever? Here’s how a life insurance plan can serve as a perfect gift this Christmas

    read more
Understand your insurance needs in few minutes

just give us a miss call 022 6611 6028


request a call back

for a scheduled call back, please share:

contact us

branch locator

Please enter your mobile number

enter your contact details

is there an issue? let us help you!

nothing to worry.

just fill in these details. we’ll help you out.

check status


Don’t wait. Complete your application by entering your transaction id.