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Money Management is all about DIFY and DIY. Author: Fintuned | Date: June 10, 2014

It is true that we are not that comfortable with abbreviations. Among other reasons, one thing is that it sparks a big surge in our inherent curious being. To tell you about myself, the moment I see any abbreviation in an article I immediately open up a new tab on chrome and look for the word without considering the article I am reading at that point in time. (However, I am changing this habit for the better)

I would NOT want you to do something like this and I promise that you will know all about the short-forms here in a while. (Also, I will keep any irrelevant gyaan to minimum). The inspiration to write this article came to me after a friend of mine pinged me this: “You know, I have heard many advocates of personal finance, money management etc. but never in any of their talks I have understood how to start the money managing exercise and as such, never bothered about it.”

Come to think, it is a legitimate question because may it be a gym workout, study for a big course or practically anything in life, the big question is “How do I start?” Well, in this blog post I have tried to devise a simple methodology that should help you start the lasting exercise of money management.

Kanna Keep calm


See, I gave away the first abbreviation (Hope you might be a little happy now).  Well, it is not a new rocket science approach but just a redefined way of  looking at things. Personal finance is all about you (including you near ones) and hence, it is significant to realize that you have to do-it-for-yourself before embarking on this journey. To do this, you just need a plain paper and a pen and give this heading. Then, divide your future lifetime into a series of time periods depending on your outlook and potential to achieve time-bound targets and start mentioning the dreams/things you have to do for yourself.

Let me give you an example:  If I were to make my DIFY sheet, it could go like this:

Time cycle                            DIFY        

By 25 years                               Get a car (hatchback preferably)

25-30 years                              Own a flat of say xyz sq ft.

And so on…………..

So you see the funda right? And it is not at all difficult because you know what you want to do for yourself.  Just one more thing to make it more valuable would be to add a monetary value to your DIFY. For instance, besides my “Get a car” DIFY, I should add Rs. 8 lacs. Though, it is a small tweak but its effect is profound 🙂


Can you say with any certainty in which direction a football player would hit the ball if the goal post were to be removed. Obviously NOT! And not only you, he himself would not have an idea about where to hit the ball.

Sadly, I have seen a good number of people do this with their personal finance exercise as a result of which, they make the move in erroneous directions and do not even know if a goal is scored. Therefore, it is of utmost importance that we at least have some idea of where to go and I am happy to tell you that you have already done it. Now, if you can then grab the same DIFY sheet and make another column called DIY.

What I want you to do under this column is to just scribble anything about investments, savings, instruments (FD, bonds) etc. that you know about can help you reach your DIFY target.  So, you can write things like “Invest in fixed income”, “Invest in stocks”. “Save 10% every year” etc.

Well, congratulations on successfully starting your money management/dream achievement exercise. Now, research on your DIY elements and seek help from family, professional or for that matter, any resource you can grab.

So please go now, take a sheet and do it. All you would have to sacrifice is making 15 Maggi packets i.e 30 minutes. [Sorry, if it wasn’t funny 😉 ]

Any questions or feedback! You have the power of attorney to the comments section.



Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy of any agency, organization, employer, or any company. Fintuned Co. LLP shall not be held responsible in any manner whatsover, for any decision/action taken by readers on the basis of the content mentioned in the article. Readers are requested to exercise their best judgement before taking any decision/action. Fintuned Co. LLP shall also not be held responsible for any copyright infringement committed by the author in the process of writing and/or publishing this article and in the event any such offence is found, cooperate with necessary authorities to take remedial action


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