Author: Nikhil Gopalakrishnan

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

During my graduation time, my cousin got married. During the time of his marriage, we went to jewelry shop to buy bangles for the bride. His mother was choosing it. It was pretty costly shopping that day. From the eyes of Mother, it was evident that she liked the bangle.

Immediately, my cousin said to pack one more bangle along with the bangle selected for bride. He gifted extra bangle to his mother. My aunt was happy. She loved the gift, everyone in the family appreciated my cousin’s gesture of gifting mother and would be wife same way.

I was pleasantly shocked to see my cousin’s ability to take quick decision to buy that expensive gold piece. That day, I have got the inspiration to earn money and become financially independent.

We all need money, money may not able to make you happy. But sometimes, Money can be a tool to make other’s happy. To do that, you need good pocket to take money decisions without any guilty.

P.S. I don’t means impulsive shopping here.

Happy earning, Happy Saving.

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

Loan and Debt is part of life, many people think that without taking a loan they can buy any capital goods in their life. It could be vehicle, house hold machines. This believe has created from long time.

Olden days, in shops they used to sell these on instalment basis with an interest. Now things changed, we have zero interest loans. We think about the generosity of shops. What a nice people to offer us loans without interest.

Let’s be sure, no one can run business without any income. There will be catch. It could be financiers getting discount on item purchased. We may think, that ok. Let them earn from shops. But, there is an opportunity we are missing. What is it ? We could earn discounts if we pay full in cash.

Plus one more disadvantage, for the next few months whatever the EMI period, our savings is stuck. Our spending habit is changing. Next time if we want something, we will buy with loan. If spending become our habit and miss EMI, we are in debt trap.

Think before act. Be a sensible spender, lead a life without loan. Become buying, accumulate that buy. Think SIP before EMI !

Happy investing.

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

Managing money is different from making money.

People usually say, Income is the problem. Do you think, are you making good income ? do you want more income ? Mostly you may have ‘YES’

If you are salaried person, there is a lot of dependency to improve income. You may need promotion or salary appraisal. Both are not in your control.

One thing is in your control. That is your money in hand or Income in hand, you can start manage your own money well. How ? Keep a track and see where you cut !

First of all, see the category of your spend. Identify major category of money follow.

We can divide our money outflow in to – Accommodation, Food, Travel and lifestyle shopping. Where are you spending more ? can you make one area more meaningful. Meaning, Food – Are you eating out or eating packed food. That will be expensive and unhealthy. If you focus this area you will able to save money. Travel – Are you spending to much on Uber and Auto, can you make it public transportation ? Are you a shopping addict ? can you shop with a plan and avoid quick shopping’s. you will figure out ways to cut spending.

Managing money is different than making money. We are talking only one aspect of managing money, that is spending. If you can keep a control over spending, you can save more. That itself a hike in your income one way.

When you cant catch your take a control of your income hike, work on your controllable. Your controllable is your spendings. Keep a watch on your big spend items. Cut it without impacting your lifestyle or controlling your confidence level.

That effort definitely boost your saving potential, we you get extra savings. Don’t keep it in your bank account, Invest immediately ! Call your advisor to increase your SIP !

Happy Savings.

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

I was talking to a friend of mine. He has created good wealth in property. He used to loan and buy assets. He used to earn rent, add some money from his  pocket and service EMI. Once EMI is completed he is owned that property. That was his usual practice.  During covid time, things didn’t go well. Rent didn’t collected as per expectation, tenure left the building. He got into trouble of paying EMI from his pocket.

He is a professional, he earn pretty good money monthly. This loan EMI burden has created a mess in this family and money life. There was a lot of problem related to this excessive EMI payment. They have sold all Gold and small savings with them and closed EMI. Now he is debt free, still not able to rent out the property.

He is making 4 Lakhs per month, his monthly expense is 2.5 Lakhs. He should have 1.5 Lakhs in savings, but not sure where is it going ? He don’t have any liquid savings, he got assets. He is not leading a happy money life, this leads to small family fights (not a serious one)

Can we relate this issue? This is happening with many of us. We think our expense is something, but we end up spending more. If you are in business / self-employed, we may be making less than we actually think, we are making. This is a real problem to address.

We have to keep a proper accounting of income and expenses. In self-employment, income may not be consistent but we should ensure are we really making targeted income year on basis ? else, we have to keep a check in place.

Same time are we spending as per the budget ? or are we over shooting ? are we mixing personal and business expense ?

If you address above 3 questions, we will able to figure out, why are missing our savings targets ?

This has to be address it, right now.

This our own Bermuda triangle ! If you address this, your rich life will start here !

Happy savings.

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

I am blessed to understand money related issues of my clients. They show generous trust to share their family issues around money and wealth with me.

We always see not having money is the problem. But having money also a big problem. I met a person, he has a beautiful family, loving daughter, grand children and son-in-law. He was a NRI. He retired as a successful businessman with pretty good wealth. He got good property in Kerala and bank balance.

He lost him wife, couple of years back. She was supportive and managed family and family money matters. They have not disclosed much wealth to daughter. Daughter and family is leading a good family, husband working in a MNC. Earning decent income. But my client has pretty good wealth that is beyond daughters or son-in-laws imagination.

There are rented properties and it required managing. he is aging but healthy. He has to handover his wealth to his daughter. She has not seen and managed this kind of wealth in her life. Its same for her husband too.

Here, we need is a Succession planning without losing the protection of my client and his family need to take over this asset. They should learn to manage it going forward.

This handover should require hand holding, more matured approach. It should not be an overnight wealth, this should not effect the peaceful family life. No greed or mismanagement should not come in place.

We all are creating wealth, one day, that should move it to our next generation. A smooth handover is our responsibility ! Same time, protect your own retirement life.

Happy money life !

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

Friends play an active role if your life, be it your savings, spending and career choices. If you have friends in middle east, you end up in middle east and start your career. This is normal situation in Kerala. Friends going for higher education, you get inspired to choose that path.

This is same with investments too. There are friends influence to choose your investment types too. If you have a friends in stock market, there is a high chance you end up investing in stock market.

Same with negative and positive influence too from friends. Good behavior from friends lead you to positive path and vice versa.

“You’re the average of the five people spend the most time with,” a quote attributed most often to motivational speaker Jim Rohn. There’s also the “show me your friends and I’ll show you your future” derivative.

Always, keep a check on your friends list to see your financial future. Your income will be average of your five friends salary.

I am not saying to choose friends with higher pay check. You can speak and inspire each other to improve your skills and financials better.

I am always blessed with good friends to inspire me to study better to move from below average student to better one. I have friends to speak about my self-developments and happiness. These people helped to push myself up. I love inspiring my friends to move them better persons too.

Let’s be a reason for your friend circles average rise up !

Let’s be the reason for your spender friend to save better, spend less and help them to start an investment account.

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

Independence day celebration is really patriotic. When we were children, we used to go to schools and take part in flag hosting + we listen a speech from head master and receive Laddu or Chocolate ! we used to crave for that sweets. I don’t think, kids these days have that craze to get sweets. One good stuff happens at my apartment is that we do host flag with all inmates. We have a Senior Citizen, he does the flag hosting, last year he did host the flag and become sentimental on his younger days independence day celebration.

One of my flag hosting was at a Bishop house. Priest host the flag and delivered a speech, he said – we have earned our independence in 1947, but are we really got our independence ?

In reality, most of us are not secured our freedom. We still not earned our freedom to choose what we want. We have strings attached with EMIs and other reasons to the work we are doing. Just imagine, if you have all the money in our hand. What do we do everyday ? what do we love the most ? that should be our job !

Sadly, most of us are not doing the work we love !

If we have financial freedom, we could work anything we love, without thing about the pay check.

There are IT professionals on IT jobs for the pay check, otherwise he may be a teacher or artist. Also, There are teachers on their job for paycheck without enjoying teaching.

Find a job in what you love is a need and it is possible only if one can take financial risk. He/She should have a decent money saved up.

There are jobs, may not get you proper money at a certain level. That push people to take up job, they may not enjoy. After certain time, he end up in trap of responsibilities.

If you are in that category. There is a solution, work for Financial Freedom ! start earn second source of income from investments without actively involved. Then move to a career you love without any money tension.

Its possible, with a plan ! have a dream, take a first step for your financial freedom journey. Fighter in you should act.

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

If you want to achieve any financial goals, you can either save up money or you can avail loan and make that goal happen. Be it Kids education or home purchase or car purchase or personal loan for anytime. But at retirement age, you cant get a loan. Yes, you have reverse mortgage if you have asset ( we can keep this topic for later time)

Otherwise, if you want to take retirement at the age of 55 and you live till 85 or 90. How do you manage your expenses without earning money for next 30 + years ?

This is where the importance of retirement resides.

Can you expect your children to take care of you ? if yes, good for you ! but is it guaranteed ?

Do you think how much per month to lead a good lifestyle ? Do you know something called inflation is going create trouble for you ? if your current expense is 30,000 per month in ten year this expense will be 60,000 per month or in 20 years this expense will become – 120,000 per month ( this is just an approximate number ). But this is a big concern when it comes to your retirement expenses.

Are you in check with inflation for your retirement ?

Keeping this in mind. Biggest responsibility of your life is your kids marriage or buying expensive car or home, it should be your own retirement. You need a sum of money on your retirement day to generate income for expense. This should beat inflation over the years.

This is possible, with proper planning and disciplined investing method.

Let’s start your action for retirement fund.