The 80:20 Rule for Your Family’s Financial Well-Being
Financial well-being isn’t just about earning more—it’s about managing and protecting what you have with the right financial products.
Like many, I once made common financial mistakes, including investing in ULIPs without understanding their high costs and inefficiencies. Over time, I realized that financial literacy and financial wisdom are two different things.
Through my experience, I’ve simplified financial planning into three essential baskets that cover 80% of your family’s financial well-being.
📌 The 3 Essential Financial Baskets
1️⃣ Savings Basket: Secure Your Short-Term Needs
💡 Purpose: Covers short-term goals (1-3 years) & emergency funds
✅ Liquid funds & Flexi Fixed Deposits (FDs) ensure easy access to cash when needed
✅ Aim to have 6-12 months’ worth of expenses set aside for unexpected financial situations
2️⃣ Investment Basket: Build Long-Term Wealth
💡 Purpose: Secures your future & long-term goals (5+ years)
✅ Equity Mutual Funds (SIPs & Lump Sum) – Best for wealth creation & financial security
✅ Align investments with personal aspirations (children’s education, home purchase, retirement)
This ensures your wealth grows ahead of inflation while keeping your financial future secure.
3️⃣ Insurance Basket: Protect What You Have
💡 Purpose: Provides financial security for you and your family
✅ Term Insurance: Coverage should be at least 200 times your monthly income
✅ Health Insurance: Ideal coverage should be ₹25-50 Lacs, preferably ₹1 Crore
Insurance is not an expense—it’s a safety net that protects your wealth and ensures your family’s stability in unforeseen circumstances.
🚀 How Snowball Financial Services Helps You Avoid Costly Mistakes
At Snowball Financial Services, we help individuals and families:
🔹 Build a structured financial plan that balances savings, investments & protection
🔹 Avoid costly mistakes when choosing financial products
🔹 Ensure long-term financial well-being with goal-based investing📩 Schedule a Consultation and take control of your family’s financial future today! 🚀
