Money gives you the motivation to strive for better, says financial advisor Nishtha Rawtani

From a personal finance perspective, investments are vital as they can guarantee your financial stability now and in the future. You have the opportunity to increase your assets faster than the inflation rate. Additionally, investing can increase your financial stability in retirement or open the door to you retiring earlier than originally anticipated. However, there is still a long way to go before everyone is convinced of the benefits of investing.

To understand what money means for today’s youth in a growing world, this series examines students and young professionals and their perspectives on money and finance. Nishtha Rawtani narrated from Jaipur, Rajasthan mint genius in an interview about her believes that money is a very powerful thing that can change your whole life. She works as a Corporate Finance Consultant at a leading advisory and advisory organization. She finds solace in music and enjoys playing badminton in her free time.

What does money mean to you? Is it the most important factor when it comes to your life choices like study, career and so on?

I believe money is a very powerful thing, you can change your whole life with money in your hand. It gives you the motivation to commit to your goals and strive for better. Speaking about myself, I would say that I am fortunate to be born into such a family that I don’t have to consider money as a major factor when making my future decisions.

What are you currently spending your money on every month? Can you provide a percentage breakdown?

I don’t have many expenses as I live with my parents and have a home office job which means my expenses on accommodation and transport are saved. So I would say that much of my salary goes untouched while some goes into daily expenses and the rest is invested.

What things do you want to spend money on?

I don’t have any concrete plans in mind as to what I would like to spend my money on. However, my primary goal in life is to be successful enough to be able to spend money without thinking.

Do you save money? If so, how often and what do you do with that money?

I believe that saving money is very important for everyone regardless of age. As I said above, most of my salary is saved and I haven’t spent it as such until now.

What does it mean to you to have a job? What are the two most important factors to think about when deciding on a company to work for?

For me, having a job means having something to look forward to every day. Now when I have weekends off, I feel empty because I’m not working. I think the two most important things would be the compensation (obviously) and whether I would be able to grow with the role I’m offered.

What do you think about investing your money? When you have a certain amount of money set aside, do you want to invest it in the stock market, in mutual funds, or just keep it in your bank savings account?

I have no particular opinion on investing. I just started doing this so I’m still trying to push my way through. From now on I’m investing in the stock market, my brother is guiding me, that’s an advantage.

Do you think you have an understanding of how to save and invest? If yes, how did you learn? If not, are you trying to learn?

I have an understanding but I’m still not able to master the art of saving and investing. As I mentioned, I’ve recently started investing, so I’m trying to learn something new every day.

Do you follow social media influencers and follow their investment advice?

Who doesn’t follow influencers these days? Social media literally revolves around these influencers and their creativity. But I think investing advice should be taken from someone you can trust, not some random influencer.

Do you talk to your mom or dad about money and learn from them, or do you take their advice?

Before I make any financial decision, I always talk to my parents about it. They guide me as to whether or not this is the right type of spending/investment. They have far more experience than us when it comes to money matters, so their advice would never be wrong.

Warren Buffett has often said that investors should buy stocks when they are available cheaply

First published: 12/04/2022, 10:37 am IS

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