TO Do List
  • May 30, 2019
  • admin

Make, Manage, Monetise – The To-Do List For Money

Do you have a bucket list – A checklist with things to do when at school, at college, after graduation and further in life? It can be getting a car after your first job, a candle light dinner, trekking in the mountains or a solo trip in a new country.

How do you feel after you put a ‘done’ mark beside an item on the list? Doesn’t it give you a sense of accomplishment and happiness? As the list gets shorter, you gain great satisfaction of having been productive in life.

Similar to your aspirations in life, there also exists a checklist for money.

Yes. MONEY. It is not just about earning, spending and saving. Dealing with money should be smart and organised.

There is in fact a strategy listing various ways to handle finances. You can save more, spend wisely and even earn some extra amount if you follow some clever policies advised by your peers.

Here is a detailed discussion of everything involved in handling money well.

Making Money

  •  Permanent Jobs

Getting a job with a stable salary is the best way to earn after graduation. But stagnation is not advisable. Look for a new job every two years or so. When you are young in your career, switching jobs is the best way to boost your learning curve and your salary package.


  • Business

Start-ups are the only thing we hear in the business industry today. If you think you have the skills to be an entrepreneur, you can start your own business, either online or offline. Getting everything right can make you a millionaire in a short-time. Though unpredictable, businesses can be highly profitable ventures.


  • Extra Income

If you think you have some time left after your full time employment, it would be a smart and economical decision to take up an extra job. Some extra income is always welcome. Many simple online and offline jobs pay a decent amount in proportion to your work hours and productivity. You can use this technique while you are in college as well.

Managing Money


  • Bank Account

Resist keeping cash. Maintain a bank account and deposit all your earnings there. Having an organised record of your finances will infuse a sense of responsibility in you to handle them well. It would also be easier to keep track of your affordability. For instance, you will know if you can afford a dress, and if not, you will know exactly how much more you need.

  •  Budgeting

Once you are clear of the worth of your pocket, it gets much easier to design your monthly budget around it. Having a plan to spend helps greatly in living within financial boundaries. Once you start spending within limits, you escape the need to borrow. Also, be diligent in paying off any debt hanging over your head. Interest and debt repayment can consume a big part of finances.

  •  Taxes

Learn about ways to save taxes. There are many clauses in the financial system that enables tax rebates. Make sure that you are sound with the taxation system and are not paying avoidable taxes.

Saving Money

  •  Restraint

It is very important to exercise restraint while giving out money. The biggest key to more savings is to spend less. Do not be a miser, but resist from being extravagant as well.

  •  Coupons

Take advantage of what internet offers you for free. Multiple e-commerce websites are dedicated to providing discount coupons and deals to customers. Before you make a purchase, run through these deals first.

  •  Deposits

Open a fixed or recurring deposit at your bank. The piggy bank formula never gets old in life. Take out a part of your income each month and keep depositing in one place. These savings must be the last door that you knock on when you need money.

Borrowing Money

  •  Credit Cards

While credit cards are a good option nowadays to fulfill the exceeded spending limit, they should be repaid on time. Delayed repayments only cost exorbitant charges.

  •  Mortgage/ Loans

Always be astute in taking borrowing decisions. Stay cautious and alert while signing mortgage or loan documents. Strictly avoid missing repayments. Borrow only what you can accommodate within your finances. Remember that you have a multitude of lending sources in the market. Do your research and choose an optimal loan design for you.

Protecting Money

  •  Insurance

For any money related investment that you make, get it insured. Accept unpredictability. Insure your travel plans, home, mobile phone, assets and even yourself. Protect your hard earned money from any mishappening.

  •  Security

There are a lot of scam artists worldwide who befool people to get money. Act securely and legally before giving your money to someone. Do not trust easily when it comes to exchange of money.

  •  Will Planning

Assume the worst and then plan ahead. All your hard work can go to waste if you do not have a will. Contact your lawyers and get a will designed. Assign your assets at your own discretion.

Monetising Money

  •  Bonds

Mutual funds and SIPs are great long-term investment options. Study the market a little and invest your money to get big financial returns in the future.

  •  Retirement

Planning for the future is as important. Start a retirement plan and contribute some money to build up a pension fund for your old age.

  •  Real Estate

Investing in real estate is the best capital gain idea today. Collect small and build up your savings to buy a property. The returns from a real estate asset take care of the mortgage payment themselves.


This is all you can and have to do with your money. Find ways to earn money, manage your expenditure, save what is left, borrow when you need and make sure you protect your assets. And after all this, invest what is left.

When all your boxes are marked, you will have great financial stability and freedom to live life your way.

Leave a comment

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

Apply Now