My readers know I am absolutely fascinated by books and I appreciate them in all forms. Last week a new book came my way, the one that did not have much to be read but lots to be filled in.
My Money Book
The book looks super-cute in red and white. The beautiful design of a heart on the cover page touches the emotional chord of the reader almost instantly. The words ‘banking’, ‘safety’, ‘insurance’, ‘protection’, ‘care’ etc are sure to make you curious to venture further. By this time, its get almost evident that this book is about book-keeping of investments.
Why is Money Book Important for you?
Numbers have never been my cup of tea. No doubt I am too bad at money handling matters as well. At the end of financial year every time, there comes a day when I run around helter-skelter to gather my investment details. More, I even forget the numbers, payment and maturity dates of the mutual funds and policies. Maintaining the original proof copies also makes me hapless. The days of one bank account are also over. With every new job, it becomes unavoidable not to have a new bank relationship. Hence, a record book is one essential thing for people like me.
Bank details – Put them all at one place
Apart from recording the personal and money related information, this book is a great advantage because it helps us to be organized. Its comes to be very handy when you need it at that time of year when we need to furnish details. Even though we may eat and drink together but we hardly know these details about each other in the family. A sudden death often puts the whole family in fix because it is one big task to put things together. A lot goes unnoticed at times.
The book can be used to maintain records of the whole family. I gave it to my husband and he was quick to fill his details. For the first time together we pulled down all our credit and debit cards, policies, mutual funds, NSCs and sat down to update our money book. Nothing less we realized that we have seven credit cards and two had expired too. The money book helped us to consolidate our long lost data. We also found out two of our policies were close to their maturity dates as well. Thankfully, the money book will help us to keep a tab on the other marked dates.
Glad we did this. It was one time effort but this will save us lot of time in future. I am glad because at the end of next financial year, I will not go berserk and have all my financial records at my disposal.
My Insurance Policies
The book has four useful segregation:
- Insurance Policies (Life, Health, Motor, Property Insurance)
- My bank details (Accounts, Lockers, Demat Accounts, Credit Cards)
- My Loans (Home/Property, Auto Loans, Personal/Consumer, Durable Loans)
- My Investments ( Fixed Deposits, Mutual Funds, Property, Public Provident Fund, National Pension Scheme, Other Investments)
A few suggestions for the betterment:
- I would have loved it more if it had a more sturdy look like a diary or an organizer
- I would have loved it more colorful in the inside pages
- An interesting book-mark or a thread-like attachment would add to the fun
- There should be a good binding and cover holding, my money book has already started to loosen up on its adhesive
- A few more pages are needed in every section so that this becomes a record book not for an individual but for the whole family. Thus it can have sections as Spouse, Children, Parents etc. Thus details for everyone can be put at one place
- When I was young I had a lock book, I always took special care of it. The money book can also have a cute lock which may have an interesting way to unlock it.
For a long and happy journey called life
In fact, everyone should be encouraged to keep record books. The head of the family should do this so that everyone in the family finds all the details easily whenever needed. Keeping a money book should become a part of our habit. This will help to maintain records in a comprehensive and organized format.