Tuesday, February 01, 2011

And it is that time of the year-my shoddy state of finance

i am not proud to say this, but my finance is in a shoddy state. And it is not too late to make resolutions. started thinking if i were to die, what a financial mess i would leave behind. i had freelanced for a company
long time back. i never submitted my invoice. i hadn't done anything about the PFs in the past two organizations. i have changes (coins) in the name of Mutual Funds in many places. Some are tracked, some untracked. i used to tell myself i need to do something about it, but never got to doing anything and just went about my un-exciting life.

The only saving grace is that unlike some of my female colleagues, i haven't left it to the husband to take care of all financial investments of the household. i know my fund houses and investments and i take responsibility for any mess that comes along with it. (book idea-The pride of a financial moron)
While being bed-ridden, i decided i must pull up my financial socks and be financially fit too. i mailed to the people i freelanced for and got a fair amount. i have applied for withdrawal of one PF and the transfer of another. In one case, i even had to get an affidavit declaring i was working there as it has been more than 3 years that i left the place. i have initiated transfer of PF for the other organization to my current one.
Next, i need to fill up some forms for some superannuation fund in the ex-organization. Don't know how! yes, it is in English but the enormity of the no. of forms gave me a mental block and it has been pending.
And i don't like this new Know Your Customer thingy happening for the fund houses. Mine are not KYC compliant and you cannot do everything online.
HDFC doesn't allow you to update address online. Don't like it. ICICI allows you to do it.
So, here are the things to be done:
  • Withdraw PF from so and so company (submitted forms, waiting for Govt to act)
  • Transfer PF from ex-company (waiting for govt to act, DO NOT change too many companies)
  • Follow up on payment for past freelance work (got it. honey, i got money!!!:-))
  • Follow up with landlord and collect documents ( i ended up paying the electricty bill for his new tenant. forgot to remove online registration. collect mails. we live poles apart now, and i am just back on my feet.)  
  • Combine all MFs to one account (Let CAMS to do their job and manage only one account online. came to know this is not possible. Done for 2 MFs. They are not partners with Reliance.)
  • Pull out the non-sensical ones (wait for market to stabilise. Probaby post March)
  • Visit branch and submit address proof. (done. 14/2/2011)
  • Submit KYC form (keep all docs ready. Done. 9/2/2011)
  • Nominate S for all investments (how much money i am gonna leave you! it was just a fracture. me not dying so soon. haha.)


Deepti said...

very nice post...:)..all the best, me too on the same way..being financially smart is the way to go!!

Meenakshy said...

good going girl... and yes.. I am one of those lazy bums whose husband manages the finance of the house. :)

Arunima said...

@Meenakshy: Good for you. Sometimes, I wish mine would be taken care of by someone too.

S said...

Woah.. that is one smart thing to do! I have NO IDEA how to go about such things.. going to take a few pages out of your book.

Meenakshy said...

I would surely like to read "The pride of a financial moron" :)

AmitL said...

Sounds like good fun, Arunima..here's wishing that all your efforts bring the max gains and you're rolling in the greenbucks soon:)
But seriously, yes, all this form filling and KYC things are a big headache...why they can't standardize forms for all banks/funds/shares, I'll never understand. The same data to be filled,albeit at different locations in each form.