MY MONEY BOOK – Making You Master of your own MONEY

When I excitedly (as I always do) opened the courier received from Blog adda, I was in for a shock this time. My Money Book was like a NANO after all those Mercedes and Volkswagens. It was tiny, yet unique in all respects!

Exide

But when I opened it, I was in for another shock. It was a slickly packaged, inviting enough for us to write our own financial story. If filled in properly by any investor, it will read like his/ her financial Janampatri which all of us shudder to make, reasons best known to us. The book, as I said earlier, if filled in to the last detail will be a complete dossier of one’s investments and a great reference point not only for us but also for our inheritors.

exide-my-money-book-blogadda

However I feel that filling this dossier will be a huge task from our end because we don’t want to face the stark realities of our financial lives like buying unnecessary insurance, continue making investments in loss making instruments and remain invested. It is like putting our good monies after bad monies. But we keep doing it unfortunately because nobody is holding a mirror in front of us. But this filled in dossier will be the mirror image of our investments. It will show us aspects like: Are we over insured, under invested, left some important investments or invested in some unnecessary investments etc.

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I admire the fact that My Money Book lives upto its name as it has not left out single investment which I could think of. Even the relatively new entrant National Pension System is also included. The Book’s design and look is every attractive which will certainly draw lazy investors like me to fill it, refer it and store it. It is an excellent customers connect initiative by Exide Life Insurance who is looking forward to Indian’s becoming more disciplined, rather organized financially!

Considering the size of the book and columns, it will be most appropriate if we fill in our current financial year’s investments keeping in mind the 80 C, 80 D Investments in mind. So that entire year we can treat this as our reference manual, not only this, it will enable us to keep a tab on our non performing investments as well.

However I feel, the book could have been:
1. More Comprehensive, had more sheets for investments
2. A write up for all categories of Insurance / Investments covering which tax section it is covered under
3. A basic chapter on Taxation
4. A write up from well-known financial planner, why it is important to be financially organized
5. Basis FAQs on Investments & help guide in filling the book as in most cases Financial Planners do this for us.

My Money Book is an attempt to prepare us for financially happy and disciplined life. Its design is certainly very user-friendly where you can create consolidated, comprehensive record of all your financial investments. It is important that all of us as Investors whether big or small remain organized with our investments, by having a ready reckoner for our investments in this easy and simple record book.

This review is a part of the biggest  Book Review Program Indian Bloggers.

Participate now to get free books!

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