Creating a personal finance plan might sound overwhelming, especially if you’ve never done it before. But with a bit of structure and the right mindset, you can take control of your money, achieve your goals, and build real financial security.
At Vizzve Finance, we believe that smart borrowing starts with smart planning. Here’s your simple, actionable guide to creating a personal finance plan from scratch—whether you’re a student, salaried employee, freelancer, or entrepreneur.
Step 1: Understand Your Income
Before anything else, you need to know how much money you actually bring in each month.
Include salary, freelance income, business profits, passive income (like rent), etc.
Note your post-tax take-home amount to keep things realistic.
💡 Pro Tip from Vizzve: Always work with your net income, not gross.
Step 2: Track and Categorize Your Expenses
Create a log of your monthly expenses. Categories could include:
Rent/EMI
Utilities
Groceries
Transportation
Subscriptions
Entertainment
Insurance
Credit card bills
Use tools like Google Sheets, Vizzve’s Budget Tracker, or apps like Walnut or YNAB.
Step 3: Set Clear Financial Goals
Ask yourself: What do I want my money to do for me?
Short-term (0–1 year): Emergency fund, vacation, new phone
Mid-term (1–5 years): Car, home down payment, marriage
Long-term (5+ years): Retirement, child’s education, wealth building
✅ Vizzve helps you align your loan needs and savings goals with clear timelines.
Step 4: Build an Emergency Fund
Life throws surprises—job loss, medical emergencies, or unplanned repairs.
Aim to save 3–6 months of expenses
Keep it liquid—preferably in a high-interest savings account or FD
Step 5: Manage and Reduce Debt
If you have multiple loans or credit card dues:
List them down with interest rates
Prioritize high-interest debt first (debt avalanche method)
Consider consolidation loans from trusted lenders like Vizzve
Vizzve offers transparent personal loans with flexible EMI options to help you stay debt-free faster.
Step 6: Start Saving & Investing
Now that your basics are covered, make your money grow.
SIPs in mutual funds
PPF or EPF for retirement
Fixed deposits for low-risk savings
Gold, REITs, or stocks for diversification
Automate your savings—pay yourself first, then spend.
Step 7: Review & Adjust Every Month
Personal finance is not “set and forget.” Track your plan monthly:
Did you overspend?
Can you increase your savings rate?
Are your goals still the same?
Make it a monthly habit with a calendar reminder or Vizzve’s budgeting insights.
Vizzve’s Smart Borrowing Tip:
If you’re falling short of funds for essential goals (education, emergency, home needs), a well-planned loan can help. Just make sure it fits into your finance plan without hurting your future.
FAQs: Personal Finance Planning
1. How much of my income should I save each month?
Try to save at least 20% of your monthly income. Adjust based on your goals and expenses.
2. Should I create a budget even if I earn well?
Yes. A high income without planning can still lead to financial stress. Budgeting gives you control, not restrictions.
3. What’s the best way to start investing?
Start with mutual fund SIPs or PPF if you’re new. Choose low-risk options and build up your knowledge slowly.
Final Words: Take Control of Your Money with Vizzve
Creating a personal finance plan doesn’t require a finance degree. Just clarity, consistency, and tools that support your journey.
At Vizzve, we’re more than a loan company—we’re your financial growth partner, helping you borrow smart, plan better, and build wealth confidently.
published on 2nd july
Publisher : SMITA
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed.