Nani's Money Tips??????????
FinCocktail
A guide for youngsters to mix the perfect finance cocktail that tends to all their personal finance needs!
Hello!!
Aren't grandparents the cutest people EVER? Some of us are blessed to still have our grandparents around and if you're one of them, consider this a sign to spend some time with them. A short call or a quick visit will go a long way and make their day, so try to do that! If you're the type that misses having your grandparents around, do something they used to do/love and reminisce their presence!
What I was up to:? Work’s been super interesting (content in the coming week’s LIT, stay tuned!), but I hit a little bump when Krishu's nanny had to take an unexpected week off. Balancing a toddler and work is no cakewalk, HUGE respect for all the working moms out there!
Fortunately, my mom has been an absolute lifesaver through it all, and my son adores her. I can't express how grateful I am for her constant support. Despite her own full-time job, she somehow managed to be there for me, and I couldn't ask for more!
Market ka haal: Indian stock markets have been enjoying a good run for a whole week now, breaking the monotony of a tough two-month stretch. Sensex touched an all-time high of 67,927.23, while Nifty 50 crossed the 20,200 mark, and hit 20,222.45. I think we're looking at a nice bull run that will hopefully last over the coming few weeks and I'm excited to see what's in store! This turnaround comes thanks to a mix of factors, like the growing hope that the US Federal Reserve won't mess with interest rates too much and some encouraging news from China about their economy picking up.
According to official data, our country's electricity consumption had quite the growth spurt in August 2023, shooting up by nearly 16% to a whopping 151.66 billion units (BU) compared to August 2022. And you know what's driving this surge? It's our increasing love affair with cooling appliances. It seems like we've been so unkind to the environment that there's a need for air conditioning in September and now all of us need to have a side hustle just to pay the electricity bill now!
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Humara Gyaan:?We usually don’t do collabs on our weekly newsletters but my parents are the newly-minted grandparents of Bombay and the best of the kind after little Krishiv came along. So here’s some gyaan from my lovely mom and Krish’s adorable Nani Rekha Thaker who’s the administrative pillar of an architecture design firm:
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1. For the younglings who started to earn recently: Don't simply spend every time your income increases. That's not the way to go about it. I understand that you might feel like you have "nothing to wear," even with a hundred crisp outfits in your wardrobe. However, as my big-time shopaholic beti, Niyati, rightly puts it, keep your vices in your cart for a while before deciding to make a purchase. It really helps.
2. For the slightly older youth: Budgeting and insurance are non-negotiable as soon as you're past your initial years in the workforce. On the day you receive your salary, set aside the money you need to save and invest, and then allocate the remainder to paying bills and expenses.
3. For new parents & grandparents: The clock starts ticking from day 1. Begin saving and investing as soon as your child or grandchild arrives, and save as much as you can. Raising a child nowadays can be quite expensive. If you want to provide a comfortable upbringing, discipline, and planning are essential because everything, particularly education, is considerably costly today. Make small, secure savings that align with your goals.
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Beyond their warm hugs and stories of the good ol' days, grandparents often hold a treasury of financial insights that have stood the test of time. As we absorb mumma's two cents, let's remember that our financial choices today lay the foundation for our financial well-being tomorrow.