Mrs. Mrin Agarwal shares her insights on investing during a crisis. She is a financial advisor and a wealth management expert. Mrs. Agarwal has been in this industry for the past 20 years. She is the founder of Finsafe, a financial education organization. Along with that, she co-founded Womantra. It is a financial awareness program for women. They help women to be financially independent. Mrin Agarwal has shared with us wonderful insights on investments that will help the college-going students.

Why is investment important?

Money is very important. It is the means of our survival. During any crisis like the pandemic of COVID-19, it is the saved money that helps us to survive. According to Mrin Agarwal, we must save at least 40% of our income. Along with that, we should build emergency funds for at least 6 months of expenses. This fund will help us survive if any crisis takes place. Before investing you must have financial security in terms of health cover and insurance.

How to begin investing?

For the 1st year, one must learn how to invest. They should be through investment options. It is advised to start with mutual funds and equity funds. If there is a minimum amount that one wishes to invest, these are the best options. She also suggests to not invest in trading and stocks as they do not generate long term wealth. Another investment to avoid is in gold. Gold has less economic value. Along with this, she shares a lot of tips, check it out on the Expert session with Mrs. Mrin Agarwal.

Also read  What opportunities are available in the field of Commerce and Management: Expert session with Ms. Vaishali Parekh

The budgeting rule:

She believes that we must use the 30-30-40 budgeting rule. This rule suggests that 30% of our income should be spent on expenses, another 30% on EMI’s or borrowing, and the rest 40% should be saved. By saved she means invested. As if we have cash reserve there are increased possibilities of spending that money. She also gives us tips on how to be mindful about saving, check it out on Expert session with Mrs. Mrin Agarwal

Tips on investment for students:

For higher education funding students should focus on scholarships. Along with that, they must also learn to save pocket money. Generally, students prefer spending all the money that their parents might give. Rather they must save some and fall into the habit of saving from beginning.  The parents face a hard time finding their child’s education. They cut down on their expenses and use retirement funds too. The students must take action to help in whatever way to ease their burden. Along with that ma’am also talks about careers into financial planning, to know more check it out on Expert session with Mrs. Mrin Agarwal

Want to build knowledge about investments and have financial freedom, check out the amazing tips by Mrin Agarwal on our Facebook page!

 

 


Facebook Comments

Related Posts

Also read  How to pursue Multiple Interests! Expert Session with Dr Abheek Ghosh