Impacts of Financial Life Full of Clutter

Saving, investing, creating wealth, financial independence all these are habits and goals of every saver or investor.

As this is a lifelong process with every moment passing we take every new decision and over a period of time people accumulate a lot of money which they call their wealth but for many along with wealth comes a lot of clutter.

What is Clutter & What Impact It has on Your Financial Life?

Let me share with you a story of one of my twitter followers who scheduled a free appointment with me on a zoom call and shared that he has more than 70 Fixed Deposits in his own name and his wife’s name in 10 different bank accounts which he accumulated in last 15 years.

That’s not done yet, he has more than 20 different Life Insurance Policies and 25+ different Mutual Fund Schemes.

With Total Networth in all these assets of around Rs.5 Crore, he said, “I just kept on accumulating everything one by one I never realized that what is happening but now I’m unable to manage all these different investments and records, what should I do?”

Here’s what Impact it will have,

1. Whenever you will see clutter in your financial life you will always run from analyzing your financial wealth and to decide what is right or wrong or what actually you are earning, because it will always look like an extremely hard job to you.
2. It might not look a big issue until you are alive and managing it, but it will cause a real headache when you are dead and your family has to deal with it. They have to claim each and every investment with different banks, mutual funds, etc. It is a very lengthy and painful process.

What is the fun of accumulating wealth that will give a real headache to you while you are alive and to your family when you are dead!

There are many of you who are doing the same thing but don’t find time to sort and make it clutter-free, trust me if you are accumulating clutter in your financial life – You re not doing good as a saver & investor.

Financial Life is meant to be simple and specific but with the advancement of technology and information, people are making it more and more complex & difficult.

As you want to have a clean house, clean room & clutter-free bed for a peaceful sleep, similarly have a clutter-free financial life.