Where is my money gone...?

My mom usually asks me about my savings, when I say the amount i have in my savings and investments she always wonders what this guy is doing with the money. I have been earning for past 3.5 years and if i look at the amount i have saved and invested, even i wonder where is my hard(!) earned money gone. I usually think myself as a guy with the controlled spending habit. Being not used to cigar, liquor, costly GFs, I thought i ought be saving good portion of my salary.

Last week Sai introduced me a finance consultant. He did a quick analysis on my monthly savings and expenditures (Cashflow analysis) - they call this process as 'Financial Health Check up' in a fancy way. So I had a financial check up for 15 mins. I then realized things that I haven't even thought as a monthly expenditure.

He basically converted all the savings, liabilities(even if you pay yearly once) into monthly saving and expenditure. I noticed half of my monthly salary is going into meeting personal expenditure and paying bills. Then I realized no wonder in having my purse very less bulgier. The point I amazed I didn't even write down the money going out of my pocket. Also realized with the kind of flow I am going, surely I will not attain the short term and long term goals I want achieve.

I generally disapprove owning the credit card; I make out a point "spend within your limit" whenever there comes the question of buying a credit card. After having the financial check up, I realized the options like free credit card and balance transfers which come with 6 month interest free are good to use and play around in generating the additional cash flow.

Financial service companies are helping people in managing the lifestyle and meeting the ST/LT financial goals with right advice on spending, investment and insurance. They basically maintain all our bills with them. You dont need worry about due date, they will call you in advance and remind you to pay the bills. Some service companies are paying the bills behalf of you and collect the money later. When we go with these companies, we need to break the financial myths rather outdated financial myths. In a week or two I will be meeting up the guys in a finance service company. I will add more here if I find interesting things..