We all know how crucial are investments areand savings in our lives but what if something happens to you and your family doesn’t know about your investment or savings? Or maybe the know but cannot access the much needed money. All your investments and savings are equall to zero if they are not useful when required.
The basic step of personal finance is to keep all the details of your account handy and easily accessible to the person you think is the best to take care of your family after you. It may be your spouse or parents or siblings.
One should always give emergency access and nomination to a certain person in his life so that his family doesn’t suffer after he has long gone.
What could you do?
1. You can always make an Excel file on your computer that is password protected and store all the details for your accounts insurance investment etc in the same file.
2. Also, you can keep scanned copies of all the documents in a password-protected folder.
3. Then share the password with the person you trust the most. We advise you to share it within your family. Parents, spouse, siblings can be trusted mostly than some outsider.
4. Also, nominate 2 people in the bank who can access the account for your family.
5. We wish nothing goes wrong in your life but in such an uncertain life you should always be prepared for the worst case scenario.
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