For what all I need to save?

You know what , of late I am thinking a bit more about where is all the money going actually?( Don't say I don’t have any other work to do..! :) ) For what all I need to save? Or how many things, I mean different headers I really need to consider and care about vis a vis financial stuff.
I keep discovering and my list goes endless. I believe in any urban city whether both husband and wife are working or it is only husband is working, it does not really matter . These headers will remain common and in fact may even grow bigger. The only thing that changes is the size of the canvas that you are playing on.

I am now a days hit by this analysis bug, courtesy the advice given by my close pal Suresh Purisai other day! So I hit upon idea of analyzing and listing down these headers, which might become a full-fledged financial plan later. In this blog, I am just listing down the headers. Going further we will talk about them in detail. The audience I am considering here is the salaried class living in urban cities like Bangalore.

Whatever may be your salary, job profile or age, you need to concentrate on and consider these headers and work towards saving for them or plan for them.

Following is a comprehensive list of such headers, which may even grow further, based on the kind of lifestyle you are leading.

1. Day to Day Expenses (Like Grocery, Electricity, Water, Gas, Milk ..etc)
2. Home loan EMI or Monthly House Rent
3. Dependants Care ( Your family,Parents, In-laws or any other relatives..)
4. Insurance for your life and dependants
5. Home Loan Protection Coverage (Very IMP)
6. Children Education Fund
7. Children Marriage Fund (These two headers depend on no. of Children!)
8. Retirement Fund
9. Emergency Fund
10. Any other EMIs

I will further detail out each of this header in next few blogs.