In adherence to the rules and regulations of Bar Council of India, this website has been designed only for the purposes of circulation of information and not for the purpose of advertising.

Your use of Matta & Matta, service is completely at your own risk. Readers and subscribers should seek proper advice from an expert before acting on the information mentioned herein. The content on this website is general information and none of the information contained on the website is in the nature of a legal opinion or otherwise amounts to any legal advice. User is requested to use his or her judgment and exchange of any such information shall be solely at the user’s risk.

Matta & Matta does not take responsibility for actions of any member registered on the site and is not accountable for any decision taken by the reader on the basis of information/commitment provided by the registered member(s). By clicking on ‘ENTER’, the visitor acknowledges that the information provided in the website (a) does not amount to advertising or solicitation and (b) is meant only for his/her understanding about our activities and who we are.

Ch.No.771, District Court Saket, Sector-6, Saket, New Delhi




“Happiness is not an ideal of reason, but of imagination.” – Immanuel Kant

The principles of good personal financial planning provide a foundation for effective management of one’s finances and achieving financial goals. Here are some key principles to consider:

1.   Goal Setting: Clearly define your short-term and long-term financial goals. This includes objectives such as saving for retirement, purchasing a home, funding education, or becoming debt-free. Setting specific, measurable, achievable, relevant, and time-bound (SMART) goals helps provide focus and direction in your financial planning.

2. Budgeting: Create a budget to track your income and expenses. Allocate your income to essential expenses, such as housing, utilities, transportation, and food, while also considering discretionary spending and savings. Regularly review and adjust your budget to ensure that your spending aligns with your financial goals.

3.   Saving and Investing: Develop a systematic saving and investing strategy. Save a portion of your income regularly, considering both short-term needs and long-term goals. Establish an emergency fund to handle unexpected expenses, and explore investment options that align with your risk tolerance and time horizon.

4. Debt Management: Manage your debt wisely. Prioritize debt repayment, focusing on high-interest debt first. Consider consolidating or refinancing debt to lower interest rates. Aim to minimize debt and avoid unnecessary or excessive borrowing.

5. Risk Management: Protect yourself and your assets through appropriate insurance coverage. This includes health insurance, life insurance, disability insurance, and property insurance. Assess your risk tolerance and financial needs to determine the appropriate level of coverage.

6. Tax Planning: Understand the tax implications of your financial decisions and explore strategies to minimize tax liabilities. Take advantage of tax-efficient investment options, deductions, and credits. Consult with a tax professional to optimize your tax planning. Where Matta & Matta (Advocates, Solicitors and Consultants) help you to get best tax planning advice.

7.   Regular Monitoring and Review: Regularly review your financial plan and track your progress towards your goals. Monitor your income, expenses, savings, and investments. Make adjustments as needed to stay on track and adapt to changes in your circumstances or financial markets.

8.   Seek Professional Guidance: Consider consulting with a financial advisor or planner who can provide expertise, guidance, and objective advice tailored to your specific financial situation and goals. They can help you develop a comprehensive financial plan and provide insights on investment strategies, retirement planning, and other financial matters.

9.  Maintain Proper Record: We should maintain separate files for all important documents. For example, a separate file should be kept for conveyance deed/house property, its insurance, municipal tax,  income tax, utility bills, car or various other assets purchased, their guarantee and warrantee cards, saving bank account statement, credit card statement, demat account statement etc.

10. Charity for Under-Privileges: Doing charities (whatever the amount) is like an individual’s social responsibility. Lot of organization has been celebrating a month in a year as “Joy of Giving”. Contribute or do your own ways like giving donations whether in cash or in kind. Our religious gurus also taught us for charity. The founder of Sikhism, GURU NANAK DEVJI, suggests their followers to contribute 1/10th or 10% of their income to give in charity which is known as ‘DASVAND’.

By adhering to these principles, you can establish a solid foundation for personal financial success and work towards achieving your financial aspirations. Remember that personal financial planning is a dynamic process that requires ongoing attention and adjustment as your circumstances and goals evolve over time.

Leave a Reply

Your email address will not be published. Required fields are marked *

There’s no content to show here yet.