How can you apply Vedas (preachings about the general well being) to your financial life?
Here’s how you can re-imagine VEDA for your personal /
financial life. V for Vital Expenses; E for Essential; D for Discretionary / Desirable and A for things to Avoid
for your financial well being.
Below is a view of sample items that can be classified in
each category
|
Vital |
Essential |
Discretionary / Desirable |
Avoid |
|
Rent / Mortgage Property Taxes HOA Bills Home / Car
Insurance Groceries /
household items Doctor visits /
pharmacy House / car
maintenance Eat in / take out Clothing /
footwear Fun /
Entertainment |
Savings Investment(s)
|
Gifts Vacations House Upgrades
/ Renovations Wholesale club
memberships Fancy Shopping Upgrades Newer model Car Newer model phone Fancier …. Concerts
|
Late payment
fees Credit Card Rent / Mortgage Car Bills Bank overdraft
fees Speeding /
Parking tickets Unused
subscription charges Timeshares Debt to fund
Desirable / Discretionary items
|
VED analysis is a key component that feeds in my comprehensive LEADERS (Living Expenses, Emergency Funds, Accidental Death, Effective Retirement, Sunset) framework to help you lead a meaningful life tailored for you.
What are some of the items that you would add to each of these
categories? Share your thoughts and comments.
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