SPEAKER_00 0:00

Hello, my dear listeners, and welcome back to the Kapil Gupta Career Pod Show, the place where we decode careers, success strategies, and life skills that truly matter as ever. And I'm your host, Kapil Gupta. And today we are diving into a topic that every student and parent must pay attention to. Financial literacy. Why? Because money isn't just about earning, it's about managing, multiplying, and securing your future. Let's be honest, most of us never thought how to handle money in school. We learn about algebra, history, and even organic chemistry, but not how to budget or invest or build wealth. As a result, many young professionals struggle with debt, poor financial planning, and missed investment opportunities. And parents they often find themselves unprepared when it's time to fund their child's education. Sounds familiar, but don't worry. Today we have a special guest who is here to change that. He's not just an expert in finance, but someone who blends technology and wealth building strategies to make financial freedom a reality. He's an engineering graduate, an investment strategist, and the founder of Financial Hero, a platform dedicated to helping professionals and individuals take charge of their financial future. He has worked with top banking and asset management firms, holds NISM certifications, and has guided countless professionals towards financial independence. His mission is to empower people with the right financial mindset and help them become their own financial hero. So bring in your pen and paper to note down the golden nudges shared during the podcast. I'm sure they'll help you being financially aware of yourself and pave the way to achieve your life's goals. Till then, I shall wait for you. Together, we'll explore why students should start their financial journey early, how parents can plan better for their child's future, and how India's youth can break free from financial limitations to achieve true financial freedom right away. Hello, Mr. Devaka.

SPEAKER_01 3:24

Hello.

SPEAKER_00 3:25

How are you, sir? Good afternoon. Sir Aj, we are here to help the kids, the teenagers, to actually learn from you and go towards the path of financial freedom. And I'm sure whatever you'll say will be priceless today.

SPEAKER_01 3:47

Yeah, sure, sure. So you are doing this very amends uh uh needed thing in this education and information age that we are lacking in that young age. Uh, people don't or students don't know much about finance, and that is very uh good initiative what you had taken today. Thank you.

SPEAKER_00 4:09

Yogari, I'm in the career space and I meet parents and kids all the time, and obviously there is a struggle when it comes to higher education, right? Either they are looking for educational goals and etc., but they could never figure out in an early age that if they would have done financial planning in the right way, they might not need even the education loan at a later stage, right? So that's why I thought key I should invite you for this podcast so that together we can actually help them. Right, very much right. So let's get started, right? Yeah, sure, sure. Okay. So for example, when I see, because it's it has been my struggle also when I was, you know, uh opting to go to college and you know, I would aim for the best universities, but besides that, there was always a dilemma, how will I afford it? Right. So most students actually think finance is something they should worry about later in life. Because even I was in the same way, okay, when I'm when I am a student, why should I be taking care of it? My parents can do that. So I was being a commerce student, still I was not inclined toward it. And today, after three decades, I understand that that was a huge mistake that I did at that time. So, why do you think financial literacy should start early, even in school or college?

SPEAKER_01 5:46

Right. So, as I see that uh basically finance is also a life skill, right? Like we uh do reading, writing, or cycling. So cycle chalana ni sika, it's very difficult. We just start with four wheeler only. So one reason habits. Second thing is the power of compounding. That very much is required at that young age to understand how it works. Uh, because in my profession, while I consulting people, I see like 40, 45-year-old professionals even don't know what is the power of compounding, right? He or she even don't know what is his or her net worth. So these two, three terms, which is very important for any individual to understand, and if they could understand it in the beginning of their uh career or at the starting years of their age, that will benefit a lot in that uh future uh years of their life. So, power of compounding is one thing that they should understand, and to uh get out of some financial trap also, that basic thing is very much required. Basic knowledge is ignorant. So that is also very uh uh uh I have seen that because of that less knowledge on that initial years, uh, people get into trap because a lot of selling happening on that basis of uh yearly and it's a good idea. They never talk about percentage gain, C A G R kind of terms. So you have to do basic knowledge up uh financial world. So these are three four reasons I see that people should get uh into this financial at that early age, so that basic concepts should be clear, and if you know the basic thing, you feel confident. So that also gives you a boost that next step is what? Because in that uh other countries uh include finance in their school curriculum also, so India should also do that thing, I think.

SPEAKER_00 8:04

Definitely, definitely, because I look at myself many kyagaltian kies, but I can see because you are into this space, and I'm sure teenagers be hung, middle-aged people be hungry, right? The parents who are actually you know looking for some, because now some kind of awareness is still there, but people are not aware of the way out. If a beautiful female connects with you, finance why will I invest just by looking at the beauty of a person? I should be looking at the knowledge of a person, right? So low or problems, what are some of the biggest money mistakes young people make in their twenties and how they can avoid that? Because we have students who both thing is like living beyond means.

SPEAKER_01 9:32

But obviously, minus it's not a good thing. So this is a simple math here, living beyond means, control, habit investing karna, safe can be habit new. So, early age start simply 500,000 rupees monthly, pocket money received investment, budgeting mindset. So I think uh that's why things piling up and badahota jata or teacher. If you have zero starting certain age, jaldi milrey, expert by default. So credit card use idea niota like in just a job like credit card use can start with debt trap hota, just thirty, forty percent interest in a parta. So that is also very or plus investment tips which is learning a time job trips, and uh next step you have a galati. So we see start at substitution or time compounding it. And then impatient. Ki just slow speed, seek to accident come chances. So mathematics proof.

SPEAKER_00 11:49

So, material thing attract. Exactly. By parents, restrictions, but chongi kitane shop pure karsakte. Or who jaled baji me hum gulti karte.

SPEAKER_01 12:07

Savings start canati young age or to the credit card or depth to basic or learning starting.

SPEAKER_00 12:21

In our family setup in India, many students rely on their parents for financial support. Right? Sare karchi bi voyutare, take bachogotu yekadia yatabitum parai karloba su. Many a times I have seen even parents. But even a parent is not you know aware of this financial system. So how can they start taking small steps towards fine while still in college?

SPEAKER_01 13:05

College or options. Uh like Magdika example, but now there are a lot of other places like even tuition. You can teach on or add value basically, so there are three, four ways you could create value and earn money. So it's basic cheese student ko ya first money generated. Right? So money either you should give some other person a product or service. In return, they will give you money. So, product and service though, or pasa milaga. Near age, you could give information in terms of entertainment, or idea though. So we have return. Or young age, product, service to the information, knowledge, idea, and then you could generate money. Even book review, which we there are a lot of n number of options. Or teasra to ideas and chota tarika okay, passes. That is investing. So you chart, clarity. So job, service they could product banarium company to through Pasa generator salary military. So yes, clarity, product service, and wutoham karing carrying active income kill. That will be a great help income start to them.

SPEAKER_00 15:02

Right, right. Thank you, thank you. That's actually making sense even to me.

SPEAKER_01 15:17

Right. Last seven, eight years, I can each as a hoti. You see that I life cycle of human beings, be a just a student, pick stages of knowledge student earning zero percent return on investment, invest nicer. AK job like three to five percent rate of in return. Kyoki Hamai salary PF cutraota or three to five percent, ten percent return. Just as Amari thought is a career growth, knowledge birthia, low gamma follow up canal, property low, real estate, may invest mutual fund equity low, then we start kiha up to mental growth or knowledge growth, or twelve, fifteen percent, or a karam zadahi, uh, aggressive and learn karma kuch or a investment carrier, global investment karia, uh, individual equity may invest knowledge, then we could generate even more twenty-five percent, thirty percent, thirty-five percent. So yeah, journey or your time, sixty years, thirty job while he earning seven, eight percent earning his talking about students more.

SPEAKER_00 16:35

I'm interested in the India education is getting expensive. Right? And actually, I have met so many parents who are actually struggling with funding their child's higher education. Or is it education loan kayak? But what are the best strategies for parents to plan and save effectively?

SPEAKER_01 17:06

SIP start parents early age. At least 10,000 years, SIP. What is SIP? SIP is like systematic investment plan, right? Yo monthly invest karik systematic investment plan bote manually a predefined mindset because I fifth of every month I will buy something or invest. Or bank product is automatic some amount will be deducted from your salary account, or SIP mutual fund may uh index fund may different. You don't have to worry, I have automatic investor basically.

SPEAKER_00 17:54

So karaoke fifteen percent percent senior citizen. So Joe youngsters and teenagers 15%.

SPEAKER_01 18:18

Parents long term uh loans, struggles, kids, journey plan karuki 5,000, 10,000 start though, and then in ten, fifteen years higher education, then your corpus will also increase to thirty, forty, fifty lakh. Okay, or education loan, which government loan layers, scholarship trying to education challenges and parents struggle a higher education.

SPEAKER_00 19:00

So, Ig Badaunki may have first year, second class or twelfth ke badusko, higher ed. Right. So kya ham ye in advance, like ten years in advance, ye and ki muelth, kitne pesuki zaroth hogi or ki aajagar Majis uh University ka dream karram. Aj muje patayovski fees. So I could estimate ki be after ten years or skill kitna invest karna parega so that I am somewhere near that figure after ten years.

SPEAKER_01 19:48

Calculate maths ki to beauty everything we can calculate, right? So just 10, 7%, 10% fees current fees growth. 10% growth, around uh seven years double. Just a seventy-two rule ten percent grow to double seven year fees some amount to double seven year or ten years, one point five times. Okay, amount X amount, or three X, five X.

SPEAKER_02 20:38

Okay, okay, great.

SPEAKER_01 20:39

Now that's the amount safe minimum Jo Hamtaki uh minimum expected return will be twelve percent twelve percent.

SPEAKER_00 20:53

Okay, great. Thank you, thank you. Coming to this, loans. So, loans are a reality now, right? So, loans. So, how can parents and students ensure that they take education loans also wisely without falling into a debt trap? So, I think that's a good idea.

SPEAKER_01 21:28

But loan lena, they can government organise banks, uh student uh loan percentage are luxury scheme, that is uh offer the lowest interest uh rates. And uh the bum borrow tuition fees borrowing, but the lifestyle can be hostel fees be included. Or a reasonable payment plan B Kare. Uh years but hang up to amount, rate of interest calculate. So minimum years, and then Koshiskane Jesse Katamot could start paying also repayment plan kayak, and aggressively you should repay also. So this will help your loan katamo and then for corpus start home.

SPEAKER_00 22:38

Let's say 10,000 per month. Is it wise to bank or I can pay more? But you may pass extra butcher as saving. Let me invest. So which is a better option?

SPEAKER_01 23:08

Yes, saving account, or art percent paymara loan children education look to Hamel loan the chie. Other Laktaiki, you could invest in ten, twelve, fifteen percent of growth mutual funds say individual stocks. So it's okay also to continue with the loan and go up bar up and thirteen percent of a difference. You should go key investor grow carrying a loan to EMI through Jaira.

SPEAKER_00 23:52

Jaira. Take care. Take care. Okay. Up coming to the basic question is a student pocket money. Then let us say, paza rupe, uske pass hai, depending on different criteria. Yavo egg dotion parai actually kuchpase kamali. So up he's trying to save some amount. So hazar se pah beach me and save karpata, ek my name. So what are some simple and smart investment options? Jovo explore kar sakta or shrukers, at least financial independence.

SPEAKER_01 24:42

Right? Civic mutual fund is subcoach, minimum five hundred start house here. So five hundred to thousand rupees key, other thousand to bachara, so thousand ki sip karde, nifty fifty ki. Or ski expense bot comote, the long term killy will grow twelve to fifteen percent. So best other five thousand batara bachara, to make a thousand rupees sip mega day, do has a PPF account, Kulua Sakha, Hannah, or ya gold ETF, does our day, or do has our makeup stock individual company blue chip company will ts in four C into Stanley, and a pantmasogi kuch, or key a sip. That's why I'm suggesting equity who say her man to a tracking kar sakta or Joviatha stock of pastor pay dalse. Yeah, Dalcepta. It's a overall growth. Nifty saves overall index by country makes economic growth or gold sales, provident fund was ki hai, or individual stocks overall ecosystem was a both basically.

SPEAKER_02 25:49

Okay.

SPEAKER_01 25:50

So we both have a disclaimer, equity support Nikarr, but me job life to Mujelaga Passage. So this Savalse had knowledge, but it's very important to quote here keep Passage, do things or fair entrepreneurship jobs. So risky I have also tried that. Lakin Zaruini some low business karpani, job ma'am, leadership, skill, communication, hierarchy, and sarichi, sales, marketing, egg businessmen. Took a hike up to already business children, Tata Billa, money, it's a businesses, houses, you know, proof the last does this allow me. Unke sat up as a part owner. So yeah, opportunity. Green investing, passa banana, equity. Business partner karpare or tiny lagare, and they are enough experienced CEO, marketing, yeah, employee, business, product, or milk business and we are growing, our money is growing through that. So intention individual stock match stock may equity manager.

SPEAKER_00 27:36

Okay. Cool. That makes sense actually. So up to Nam Lily Mutual funds, stocks, assets. Lickin as a beginner, challenge Ajayaki Bata today.

SPEAKER_01 28:03

Suruju step out. Right. Subse basic cheese security on a chip. So subsequent insurance karana, liability job, or health kill. Agar up married hair to liability killy, insurance karana, ki bay other twenty lakh insurance and one crore cato. Basic rule salary hair initial years, ten to twenty times of insurance, just as a salary growth, a lifestyle growth, or insurance value but health insurance are a company there is a ticket of private coach lake health insurance. So ye do no meet, then you start collecting kiby to three to six months emergency fund. Ticket. Salary access to come second, three to six acts upka, ek liquid may have d may rana key kabi zero per to emergency fund can you use. Yeah first can be upki saving over here. Us may up divide karank fifty, thirty, twenty rule, which this may upka fifty percent you have need peck hercho, thirty percent up expectation, want peck hercho, and a twenty percent saving. Use twenty percent of divide gurke, which be a pep of office cut rather, then you go to fair nifty me, mutual fund me, or other apolapta sixteen, to individual stock man. So yeah, Tariqa best.

SPEAKER_02 29:30

Okay, good, good.

SPEAKER_01 29:32

Or a clear goal we track things a return area or according to Lagraka time neither picnic or stock, so go to mutual fund yeah, index fund is best for uh uh economic time.

SPEAKER_00 29:50

Okay, okay. So up the index funds. Again, youngsters investing with the pocket money pays in that. So because you need a lot of money to start investing. Or even the middle class, or actually, or even after working for 20, 30 years in a job, the person is still struggling. So if you have what is the mindset shift do they need?

SPEAKER_01 30:45

You need a lot of money to uh start investing. Agar kisik cost those are those are the country fraction of share will dollar cake dollar kilenio agar was share cost or those or dollar top chow one fourth, fifty dollar key less. India may be at least minimum one share line.

SPEAKER_00 31:22

Sorry to interrupt you like in terms of rope nipaya, this is IPO ka had to keep share market method shares, Joey shares on key price bojadauti. Ticket Sir Lok IPO say low up IPO kill ad arte osme a Dasurpeca share a pan Surpe premium ticket or furbo get a minimum saw shares, Khidne put any up to Firbo eight share caselega. Ya minimum investment casekariga.

SPEAKER_01 31:51

Do market primary market or a secondary market. To Joe Baki company listed, eh? They are into secondary market, Jape, hum shareholders say share karidre. But the kissy do selected to hum caridre, oh platform based. Minimum investment upka juhe fifteen thousand to happen, a lot lena parta, who around fourteen, fifteen thousand start rather. So minimum IP lena to start can up to otherwise list on the other ski calls dosorope, to updo punch less. Okay. IPM lot lena at least fifteen thousand. Come seca.

SPEAKER_00 32:37

Okay. How do basically low vahipe hesitant to Yateaki Pandra Zarupeto Henny?

SPEAKER_01 32:51

Ek Tarika, eight cheese available market, or Wah Milri Ham Jake, or Hape competition, demand supply game, to hape come a cherry milra. The Waipio Ata to Matlab investment banker or Sarilog Milkena to public. Demand luck the movie release of the hype.

SPEAKER_00 33:21

Right, right. So Abja middle class kibakkaramsa. So Aksar, because they are always short of money. So they are hesitant to introduce their kids also to financial management. So you awareness coming, but how can they make finance fun and educational at all?

SPEAKER_01 34:18

Then in return money milta to upcoam demand over you money, Hamare, active income, or future may upko be stress, but hum unko de takealo abisa pocket money mil reapco, to pocket money sap cases, thousand rupees keep pocket money at three hundred, four hundred book caridro yaku, toy caridro to rest kitne but sme unko si canach at least fifty per cent you had need package, thirty percent which want to pack her, and uh or twenty percent safe current. The king percentage game because knowing percentage of everything is very important. And then very chalk, mindset banja. So just a Mabi Kart to man Jovi pocket money they thought starting to collect cutography and a bank at the account Kulwadia to Madla Buddhictake, it's my interest milga to longer tacha passing birthday, the bo Patalakta, but the excitement to touch a birthday may I say papa invest. Right, right, right, right. Sarika was plus both fun game, monopoly joki uh kids game that also helped to grow that financial knowledge to kids. Okay.

SPEAKER_00 35:35

Monopoly and Monopoly, or we had my share cursor just coming to the end because this is really uh becoming interesting. So your mission is to help people become financially independent, right? And you have always mentioned that. So if you had to give students and parents just three golden rules to achieve financial freedom, what would they be?

SPEAKER_01 36:13

First, you calculate your net worth. So net worth calculate up net worth net worth positive asset calculate karo liability calculate karo ka loan child so main your asset fixed asset, this is real estate, which uh the fixed return giving asset just F DPF, PPF over business time type of uh investment, equity, mutual funds, bonds is type. So in Tino go club karky positive asset karuge and then liability loan. So net but net worth to calculate your net worth first net worth or financial freedom number. So ideally, it should be around ten times your current take home salary caste, C T Cas. So example letto this lakamara or eight crore by eight crore financially free. Freedom twenty lakh or target two crores asset create hoja, joke thus percent return melee, to merek twenty lakh milega, to make free ojonga a free onga to time freedom. Firapko enjoy a job may a business. But you should have a feel ki by Ham freedom achieved or just as a year's birth amount up to salary, but you to be target birthaga. Kabina kabi as a break even. Right? So yeah net worth calculate karna, fit up no financial freedom number calculate karma, or do you invest up karate consistently invest karter or parallel income generate karpato or jaldi achieve perfect, perfect.

SPEAKER_00 38:00

Thank you, sir. Thank you for such insightful conversation. Mantu karata or upse pucha jai. But yes, because of lack of time, podcast invite or financial freedom because yes, it is a very, very important life skill. It is a cause of stress in our lives. So we have to skill up career growth or better financial uh growth so that in the years to come they can have real, real good value of their lives, they can enjoy their life actually. Right, sir. So thank you. Thank you for coming, sir. Thank you, thank you very much. Thank you. Wow, what an insightful conversation. Financial literacy is not just about money, it's about freedom, security, and opportunities. Now, whether you're a student looking to build a strong financial future or a parent planning for your child's education, the key is to start early and stay consistent. A huge thank you to Mr. Devato for sharing expert insights and simplifying finance for all of us. If you found this episode valuable, make sure to share it with your friends, siblings, and parents because the sooner we learn, the better our future. And follow Financial Hero to get more tips on wealth building. I'll be sharing the link in the description so you can definitely go ahead and connect with him. Subscribe to the Kapil Guptaka Airport show for more expert conversations and got questions, drop them in the comments or DM me. Till next time, stay financially smart and take control of your future. Thank you.