Vaasu Challa’s 9 Golden Steps.
Being in Middle Class one of the biggest pain. Have to think for every expense, Have to think lot of times for taking any decision. These 9 Rules helps you to change your financial journey in right direction.
What Are the 9 Golden Steps?
Vaasu Challa’s these 9 steps will show you how to prepare for emergencies in life; how to protect if unexpected happens how to reach important goals and how to create wealth..etc. These are simple but not easy, These worked for 1000s of people and these will definitely work for you.
Golden Step1: Accumulate 3 Months of Income or 1 Lakh .
In this first step; Your goals is to accumulate basic emergency fund as early as possible. It will be helpful in case of anything unexpected happens when you trying to become wealthy.
“Create Your first Budget” Link
Golden Step2: Know your insurance coverage and fill it if you have gaps
In second step, You Do analysis of your insurance requirement and take all necessary policies. Example life insurance, health insurance, car insurance…etc. If you dont know how contact your financial planner.
“Attend Gold Membership Webinar” Link
Golden Step3: Close your loans as early as possible (Excpet Home Loan)
Now you are done with 2 most important steps. Now keep your loans in sorting order and Try to clear it as per Hybrid Loan Clearing method.
“What is Hybrid Loan Clearing Method” Link (Loan Free Life)
Golden Step4: Start investing for your retirement goal.
Why its in High Priority. Because its crucial for power of compounding. If you dont have money, atleast start with Rs.1000. Because your habits makes you money.
“Open Mutual Fund Account” Link
Golden Step5: Prepare your full emergency fund.
You should prepare Min 3 lacs Max 9 months of your income as full emergency fund. The one who dont have emergency fund is not only risking his financial life; He is risking his entire family life and emotional balance. So its most crucial and important.
“What is Emerngency Fund” Link Blog
Golden Step 6:Start investment for House and Car Goals.
By now you have full insurance coverage and emergency fund. Now its time to do investment for your House and Car. Both are important. If you have home loan do alternate investments instead of closing loan.
“How to Plan for House and Car” Link
Golden Step 7: Kids Higher Education Goal.
You must save for your kids higher education. Why its seventh step? because even you fail to save money for this goal You can go for educational loan.
“Children Educaton” Link
Golden Step 8: Plan for vacation and gold ornaments.
If you keep saving all the time and didn’t enjoy the life; it’s also one kind of failure. So plan for short and long vacations. Do part times if you dont have anything left for these.
“Part Time Job” Link Franchisee
Golden Step 9: Search for the ways to create wealth.
Creating wealth retiring rich and early are very important goals. If any skills required; Find and improve it . Focus on how to earn more money in less time.
“1Cr in 1 Year” Link