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Hi All,

Money Talks Weekly # 3

This is my weekly write up trying to write down my learning to all our email group and linked in.

We always speak about importance of savings, Spend less than you earn is a common advice always get. It is the basic of money life !

But there are spending in our life, definitely we cannot avoid. Our needs like food, shelter can’t be avoided. These days, mobile bill and shopping also part of basic need ????

I have seen people who earn significant amount of money and lead a very low budget life. They sacrifice many things life. They think, lead a moderate lifestyle is a sin. Their family never had this kind of lifestyle. Always has this, ‘My father was a low grade worker or daily wager’. He struggle to bring food to the table and created debt to send me to school.

Yes, if you think this carefully, that daily wager had a vision to send his/ her child for education with debt ! his parents were poor but they had a progressive mind set. As their child, you should not forget their root but they have to move this thinking to higher level and lead a good quality lifestyle.

This doesn’t mean over spending. This means, improving a quality of life, add value to entire family and society. Lead a good family life, stay in good home, involve in good cause in society and better education their children and so on.

Some spending always is an investment. If you are working couple, having a maid to help save time. Going for much needed family vacation is an investment for our family bound, eating good quality food is an investment for your health, buying book is an investment if you are reading, list goes on.

Spending is needed, over spending harmful. Spend for experience and value addition in life, that will boost your life. Saving too much with sacrificing all enjoyment in life is harmful. Learn to build a balance in Spending, that will help us build a happy life.

Before Spending or cutting down spending, ask yourself – What value addition is it going to bring ? If I spend this, am I going to use it for any use ? if you have a positive answer, If spend it with joy !

Hope, this will help you spend your money happily and lead a prosperous life a head !

Hi All????,

Major source of our confidence✊ on money comes from our own primary income????, Salary ! Even businessman / self-employed person should fix a Salary for themselves. If it is confusing we will speak later, how to do it !

I spoke to many people on their Debt or problem with money????. They ask for a side income or Income from stock market opportunity. I had a discussion with one of my clients about 3 years back. He is from a small town in Kerala, working in a small IT firm. Small salary, had family responsibility, had a relationship with his love of his life. Wanted to marry her and scared about his expenses. With his current salary, it was impossible for him to lead a life he wanted to live.

We spoke about his income, expenses and financial goals or requirements in his life. So, he asked a solution????. We spoke about the opportunity to improve his salary. He was afraid to get a rise from existing job with existing skill set. We have suggested each other, why don’t he try courses to improve skill????‍???? and change location to Kochi. Plus he said, he wanted to start an investment monthly 2000 Rupees. He was not sure about 2000 Saving per month but he said, I want to make it happen this somehow.

He has continue interaction with my team members in office and few months back, He has visited again and met me. He wanted to increase his monthly investment to 50,000 rupees. He said, last 3 years, he did improve his skill by attending courses, attended interviews????. Many rejected, cracked few and joined in best offer from Kochi. Now in less than 3 years, he got married????‍♀️, shifted to town and able to save from 2000 to 50,000 rupees per month.

The best investment is always is on our career, then save more and spend less⬇️. Always recheck, am I able to get a hike of certain percentage year or year. Otherwise, we have to improve our skill and look for better result.

There are a lot of search for multiple source????‍♂️ of income and side business. But it is safe to focus on primary job first. Once you are making decent income from that, we can look for alternate income.

Yes, we may have excuses, Keep aside. Please believe this way for your own good ???? !

Hi All,????

I am planning to write a weekly blog with my learnings around savings and investments. Hope this might interest you, we will email to our subscribers on weekly, Wednesdays.

Thank you for the support on Social media????, it is nice interacting with you. I run a stock brokerage firm in Kochi, Pentad Securities. Personally get a lot of opportunity to speak with many people on their money matters????. I am planning to share these learnings via this blog going forward. Please share your feedbacks.

In Kerala, we generally are good people????. Hard working, save money from their job mostly from outside Kerala and bring in Kerala. We have good productive population outside Kerala. Always, wonder and wish to see good paying jobs to be available in Kerala itself. It is going to happen soon.

Today, I want to speak about the power of automating your savings. Most of the people in middle age, worked in any job would have taken any loan and paid EMI????. EMI is an amazing tool for bankers to collect their loan in automating and smart way. All the banks????, income is generated out of this EMI. Same time, it is the reason most of us compete our loans on time. Most of us, won’t even look at how much interest charged or any other charges levied in the EMI.

This technique is really working well for banks make their money. Same tool????, we should be using for our savings. Don’t expect ourselves to write a cheque and save regularly for future. Whenever we see extra money in bank, we like to spend or environment around us force us spend. End of the month, no balance, no savings.

Solution???? for this – Automate you Savings ✊via SIP???? ( Systematic Investment Plan ) to Mutual Fund or Auto debit for your salary account to separate account. SIP won’t be new for you, It is a simple automating system from your bank account to investments in specific investment tool (it could be Mutual Fund or Equity or Gold ????or list goes on ), you can specify the date????, money ???? to deposited. Also you have the flexibility to stop any time, withdraw any time ( depends on the scheme)

When you do this automation, Keep a goal???? for this investment. Let’s say, I want create 1,00,000 as an Emergency Fund by 31-Mar-2024. If you can do a SIP of 10,000 per month. You can achieve this goal, also you gain the confidence of having an Emergency fund and you have not spend 10,000 INR each month. This hack can be done for all your goals, save more and Spend less.

You may already doing this, it’s good????. You can look for another goal. But if you have not following this, Please start Today !