Top Ways To Make Money, FD Vs SIP & Investing Mistakes - Stable Money Founder | FO 300 Raj Shamani

کیوں کوئی اپڑی میں پیسے دالے لوگ گھولتے بارا چاہدہ پر سند بڑھتا ہے ماکڑ تو میں بڑے وہاں پیسے کمہوں انڈیاز very forgiving country ہر آدھا سالمہ یہ بھول جاتے کریسے شلاتے when there is a difficult time when some of these investments will help you the earlier you build an emergency fund in your career the easier it is for you vırna uske baa it becomes very difficult because I am a very sadheed all of those things it's ne ghar shaa jathin sama jiniya hada Who has three mistakes who invest in young investors your company is entering and when you are exiting that is important if you do not have patience then do not put in such investments where you will take your job and regret later that if you keep this in place for a long time then investments give good returns so patience is another important thing because they say that there are seven wonders eight wonders compounding I will give you a little bit of money i.e. my money won't grow those who are fixing the deposit 5 to 6% return they get the maximum people and how can you give 9% if you close the bank then how will you get the money? in india 5 to 6% return and this is what we are going to get today's guest is a little problematic because they want to know this is a specific strategy that you can get more interest on the fixed deposit than the fixed deposit but do you know what the point is? and how many such things that are around the fixed deposit and we don't know so before starting the podcast give a link to the description and click on the quiz so that you can know what are the things and what myths you don't know till today and what is the mistake which you do because of which your finances are not that strong our guest today has founded the top founders such as Flipkart's founder Sachin Bansal and Swiggy's founder Shri Harshad who is a very big person has been very close to the company and is in their growth journey and is seeking their strategy and they have left everything and they have started their own startup called table money so we have tried to learn what kind of strategies that can be a startup which can solve the problems of the finance and they want to solve the problems of india and why are they saving the savings and how you are and how are they financially opportunities can be found and you can strong your finances so enjoy the show Swarabh Jain co-founder of table money so we are the 10th class teacher and 10th class you are a big girl big girl average how were you no I was average my mom always had that ambition you have to good I was never the top I was always like everywhere 60-70 right no no I was 80% but the top where I was 80% was average so school I was average sports I was average so if you remove me out of the equation in any situation except my family nobody would notice unnoticed no if I would not be able to do it same kid so to average unnoticed kids are talking today so to average unnoticed kids are talking today so to average unnoticed kids are talking today So to average unnoticed kids are talking today So to average unnoticed kids are talking today so to average unnoticed kids are talking today so to average unnoticed kids are talking today I am not the best between two right? I am not the best between two right? directors, pm, they should be able to students work in an IT company they are not only capable of learning, but they are very good at learning. So, after that you have done an iconic entrepreneur, India, one of the top entrepreneurs his name is Sachin Bansal of Flipkart, right? And now Navi, and now I don't know if I wanted to Angel in my sandwich, it's done. So, these Sachin Bansal, let me put out one thing very clearly. Sachin Bansal has given the whole startup ecosystem to you. You can fight with a big giant, えて Award shattered ups za ki ki i was make a next day's wiki meki ja ki ki hagaam kar na aagos aprepair kar rathar and unan bhola ki Sachin chi fostaav dekh rengar aur hagaam ne aap kaprufail dekh rengar aur Sachin ki tini kandishan thi ki koi akshe kualaise hona che kise ne chi fostaav pala roll kabe ki hi haga hona che aur koi x founder hona che agar ye tini mit kar tha fit the criteria to interview. اور بہت لکلی وہ تینو چیزے میرے پاس تھی. کیا پوچھا ہانا ہے انتریورم. انہیں انتریورم میں کہیستے دی پوچھا کہ اگر آولا کو ساوطفری کا میں لنچ کرنا ہے. تو کیسے گڑے. بس. اور پوچھا کچھ اور اینفمیشٹین نہیں. بس یہ ہے پرنا ہو مجھے پوچھا تن کو کیا پوچھا نہ ہے. اور وہاں سے پھر ہم نے crop in statement کو BREAK DOWN کیا, کیا کیا دیکھنا چھیئے, کیا دیکھنا نہیں چھے, کیا کیا کیوں جانا چاہتے, ساوطفری کا this that he go. 他 نے start up ke pari mi kuchak ki hapne kya kya kya galdia ki. I think Sachin's sabbh sabbh sabda talent hiye hai. Abo experience haiye ye ni patani. Is identifying the right talent. Is I don't think Sachin ke alava koi karpaya ka. Sach ekart nam ki company hai, flip kart mein. Jha boha dhadi company hai. Boh jha bha sabchin thay flip kart mein. Ta bha unka under ek intern tha o sneshi ru ke thva idea. Which now became a big company out of that. Or asya Sachin ne bohod betts liye. Mutch pe employees pe flip kart mein. Naavi mein. So jha boh na ne mujhe bula ki saarab you go and become the youngest CEO of a mutual fund company in India. For the first time. And go and talk to sevi, go and be part of all the mutual fund CEOs. Jha mera koi experience naith haus mein. Ta bha unka ne mujhe bula kya saarab may bi that is the only thing jokab kar eghi. Because, agar mein boh laglao, jha boh lagye karthi hai. Ya kar chukhe hai. Kap boh lag wahi karin ge jha boh lagye karthi hai. Naaya kaunso chega. So, I want her cheese mein nailog hune chai hai. Obviously, experience chai hai. Aap ko samajna hai ki Regulations kye se kaam karthi hai. Baakilog kye se kaam karthi hai. Aap ko ske liye team banao. Ya consultant zlao, jha boh help karein ye aap ko. But start fresh. Aar that is the only reason. Naavi mutual fund jha bha humne shuru kye ha. We built a team of only 14 members. Aak mutual fund sif chaada logong se kaam kar hai. Jha hap par aaj bhi mutual fund ki strength hogi 415 log. Hama paha lebo mutual fund thai jha nao ne India ka sub sil lowest cost index fund launch kye ha. Hama paha lebo mutual fund thai jha nao ne Vangarju US ka sub sil bada mutual fund hai. Uso ko India mein paha lebar li kye ha. Aap ko baat saar ye asi cheese hai. Hama ne jha bshuru kye ha ha. Dosa karoor thai. Aap khaa aj mutual fund naavi mutual fund ko chaat hano hazar karoor. Aar that is all because of some small steps small beds. Jha sachine liye hai. Aar asi bhaoth example saar naavi meh flip card meh. Which changes the thing. Tell me CEO s kyao tha. Chief of staff kyea position hoti hai. Qum hai faunders ke kloz hoti ha. Qum hai ka bhi chai tna hai hai. Kye haar ye wali position hil gay to ha. Ye bhaat da desaarable position hon jha kye. Chief of staff I think paha lep 415 lp hai tta tu thay nahi. Ye to thoda sa hame ne bho haozaf card zor wo sabhi kha hai tta tu. Aa haozaf card svan. Aa ha. To bhaa se hame kum ila hai. But ye roll wo se khaa fi ala gaya. I think chief of staff roll. Aap jis ke saat kama karoo si saap se ala gaya. Raj ke chief of staff bhoot ala kama karega jis se saarab ka chief of staff kama karega. Bhi khaa zhaare rikwaramant zalak. Jha bhae nha suigi meh chief of staff ala roll kyea tha. My roll was to drive newer projects. Jho ju siyo tha hai suigi ke wanted to drive but there was no team to drive that. Jha me ne sachin ke saat chief of staff ala kama kyea tha. Sachin chief of staff was kye se hame decision making ko unblock kare. Sachin doesn't want to be the blocker. Ki kye bi decision iske vajse dee le nahi huna chae hai ki sachin ne mo decision nahi le. Khaar bho mi rakam tha. Ki haurua ek keep unblocking the decision making within the Navi system. Ki jha par agar do organisations ja do functions ke bhi khaa decision making huna hai. Vahap es sachin ki huna ki ziruvat nahi hai. How we can keep unblocking that. So haare ka lagalag moti bho tha. I think my motive yehe ki, I want extended bandwidth for me. Ki zada time mille, ju day-to-day wali chise, ju kafi stuptured chise bho chief of staff la call. Because chief of staff aap ke sa dhi ithna klozli kaam kar tha hai. That he knows ki, founder kye sae kaam kar tha. Ki decision making kye sae huna hai. Ki kye goal hai ki, objective hai ki, ki bhaar bhaar aap ko replikit kaar na kye liye aap ko harja ka huna ki, ne he aap ka chief of staff hoke bho kare saakta hai. Do you think, haar founder ko ek see chief of staff rak na ji? I definitely think so. What stage? Muja lakta ki, jee tna jaldi kao hootna chhe hai. Ki, jee tna jaldi kao hootna chhe hai. And you want somebody to stand by you, give you the advice and so that you don't make the wrong decisions. The person that you trust. But after that, you need to have a chief of staff. And if you have a chief of staff, you are a sole founder. So, definitely chief of staff huna chhe hai. That's your extended arm. When you are not there, you still know the companies running away. I usually call this chief of staff to a fancy term. But, agar aap saal ho sa bachpansi business sa dik te hai, hao, la la company sa dik te hai. To write-hand man ho tada. Haa, right? Chief of staff is technically that. To that. Ki, pehli ho sao write-hand man, person bhol tajag ki, jee merao dhikta hai. Bho khat puraane zawane, munim ji ho tete. Raja saare, juh pula man sa dik te hai. To be the main thing, but bhoh saare decision le te tethi sli hai. Then, we write-hand person ho wa jo dee to deo operationan dik te tha bhoh kuch. Founder to ki ha, CEO to jee sain porshnaid bha tha. Saap sae loyal trusted and secured person. Fere uske bhaa, us mein, buddy buddy companies mein ye, bhi kis jin ki laat CEO sauthe. Vassistence used to be closer. 3-4 saal mein, wo see de exegutive assistant se business head. Business head. CEO, koi country head ki dhose jai ki gaaype lead and that used to be the position. Then, waha se ve founders office position mein ye, aur abhi CEO s ki taraf jahriye. So, at the end of the day, idea simpili hai ki, right hand to mare paa zik person ho na chi, jis te dee one pe to maraak, to moseke commitment level bhoh da bhoh saakarti aur competent level bhoh saakarti na. Tessa koi jo aap ko replikit kare dhose jega, bhi kis jega ho ni sagta hai. Aur aap ko chisopei focus karo ge hai. To baaki chisoon ko korn replikit kare ga, hois shadow of Raj in the company. Got it. Aap ne bhohla ki, Sachin Bansal ko 1% lok pyaar kirti hai. Mayon 1% mese hoong. Q99% lok pyaar ni garti hai. Aap na you said ki, difficult hank saat kaam kar na. To go incident bhaa, jhaap hai aap ko lga ki haare, aap baat difficult hai. Saan kaa, work ethic level, may match in ni garti saakta. Khaa paa ra saa, work koi exampil dhe ka, kis imploi ke saat de ka kutke saat de ka, what happened. I think aap baat interesting k example hai. So, bhohla, baat log fascinate ho jata hai. Ya, over well mho jata hai. When they see Sachin or when they talk to Sachin. For the first time or initial days mein. Aur mese aade haam aase kise ek muting ru me baat hai. And Sachin doesn't like people praising you. Absolutely. He doesn't like. He said, you call speed a speed. And you don't have to do praising. Right. Aur sugar coating, just to impress me. Because he'll understand bullshit very fast. Aur asi ki saam eating mein, somebody was constantly saying ki, Sachin aap na you je bata aath ha. It was a great idea. Aur haam na you implement kya nid work very well. Sachin aap na you je kia, uske vaj ja saa baat faid haawa haam na ye. And he stopped the meeting and he said kya stop doing such things. I understand, what are you doing? Kya sa kya ryo. So please I don't like this. Never do that. And it was such an uncomfortable situation for that person. And everybody in the room, because now they understand. So asa nahi hai ki, he will let go of that difficult situation. He chalo aathuraan komforte belethe me let go karta, I'll do it later separately. He'll make it clear to everybody on their face in an open forum. Kya rsa matkarao. And I think what I've understood out of him is he doesn't want to spend time to build that culture individually with people. He would do it maybe so many times openly that people understand. And aske baad, even if I had to do this, kya sachin, kya rsaachaggreedpa saan, kya rsaachaggha vijinari, kya raapne ye, socha aur ye ki, I've never done that in the past. After that. So I think that some of these things make it little difficult to work with him, because you never know what will come here. Most of the time or a little bit of culture, maa dekhha bhi hai, baki corporates me, that praising boss is a common thing. Do it unknowingly. But it's very very different here. So aapne, pellek start up start kya da. And that failed. Kya kya kis pare me tha was start. Our start up was in agri tech. And we, farmers, so we realize that your agri supply chain is very broken. The two KG's tomato is in the market and it's in the market. It's in the market till 40 rupees. And there are a lot of intermediaries because of the efficiencies are not there. So we started where we used to procure from farmers fresh and fresh vegetables and fruits and delivered it to the restaurants. Because we focused on volume. That was our start up and the name was Cruz, which was true price for the start up. We did that for a couple of years. We were in between, we had a bunch of mistakes as part of, as being the first time founders. And raised some capital. But eventually when we realized it's not working out because of the flawed in, we as a founder or as a team or the problem treatment that we are solving. A single problem with how, why failed was start up as a founder? As a founder, I think we didn't hire the right team or we talk a lot about team. Because we were so frugal and so optimized, so much optimizing for the cost. That we didn't hire the employees for scale. And I'll give you one example. We hired somebody for that specific problem treatment. Our problem treatment is that we have to reduce wasteage in warehouse. Right? So we had to do that. bhandi ko hair keye, jo wastage ko kumkar saktay, ho has done this as the same person in some of the other parausas. But, jab wo ek wear hao s dha s wear hao sze zohaya, jab wo s ek wear hao sme frutes ke sa da vegetables vi anilagay. And the complexity of that problem statement started going up, that person could in scale. Or jab wo skill nahi kar pa ya, what we did immediately is realizing, rather than realizing that as a problem, we got into that problem statement and tried to solve it R way and involved R serves. And when you are so granular, you solve any problem statement, then as a founder, you have to see the larger picture. You know, British military approach, team building, they have a good formula. So with this 23830, I never knew this. So, jab bi go naya idea doh loko s idea pe lago, test karnagali. Jab wo prove ho jai, tee nlo go lago. Jab wo idea up in running ho jai, tab aat lo go lago ho sko chalne gali. Jab wo proper actually business banjai, tab tee nlo go lago. And then the scale follows. So, this is amazing. And 23830, so kuchu vin naya project karnaata say karao, kki kki doh loko maapko ye samaj maa jai ka ki, Okay, idea doh loko ek devils advocate bane gao reik aakchali, optimistokat to and doh loko ye dhar sa idea prove ho jai kaa. And fast bich lenge, because both of them are not good. Yes. Firm wo prove ho jai ka tab tee nlo go arda ki, karna lenge, because both of them are focused on growth, karna actual karna gandga reik aakchali. Bo tee nga reik aakchali. Jab bi tee nlo jai, firm 8 loko, individuality, itnei responsibilitize do, ki 8 alagalak functions chalne hai go. Ki ek finance deik rai, ek growth deik rai, ek hiring deik hega, ek marketing deik leik ka, exales deik leik ka, multiple cheer. Right, so 8 people will do it. isiajlaisframesowsky ignorance is as淨 if you will do it, and then you ch get a shop and this is a design company. Now we need 30 people to do it and we can make this company very big if it rains. Its a great thing. And when you want toelect the first finding give me top 3 insights about India after working in these two large organizations. I think one of the things that I found is tier 2, 3 cities which we see at the top 6, 7 cities, 10 cities. They have a lot of money. Which we think is the biggest cities in the world because they are spending money here. They don't have credit cards because they don't have a single school and they have no loans. But they go international. They use flights. They use OLA, Swidi, Uber, all of those things. So, money is a lot of these things. They have a capital. Second is we call it India as a trust deficit country because by default we don't trust anyone. But I think one thing I realize that India is also a very forgiving country. People are very forgiving. So if you do mistakes, I think they will be okay to forgive. And it's very actually easy to build trust with people when you go openly and talk about it. So, I think when we started our business, yes, we gave our Navi, we also went to people. I think people trusted us very quickly. I want to try. It's okay to try different things. So, I think trust is another important thing that we understand. And third thing is, I think if you want to start, don't start with educating people. I think education, if you want to do it, it's a very long journey. And people don't learn as part of education because India has less patience. So, if you go to an education journey unless it's mandatory which is our education system, if you have any course which you don't know about, they will drop in between. So, this example from mutual funds. One approach was, they never taught mutual funds before they taught them about mutual funds. And then they get in. But what is happening in India is, they are trying to try because they have heard and understood what they are trying. Which is a little bit of work. They are trying making mistakes and learning on them. That's the best way. So, make them try the product rather than educating them from the day one. And one example, when we launched the first fund we launched a new fund offering in a mutual fund in a new fund. It opens on four days before then you apply it in that fund and you get the NFO units. People have done it and they have sent it for the first day. And why are they making a shop? And when I spoke to them, they said that the first day was a gain so we sent it. And they confused NFO with IPO. So, that is the level of awareness that people had. And we realized that if I first understood them that NFO is IPO, then they never try. Right? But because now they have tried, it's easy to tell them that what is right, what is wrong. And now they will improve on that and keep improvising, keep getting better. So, I don't think, and this is my personal experience. And people will have different point of use. Keep, don't spend too much time educating people. Create something for them in a very small sashay format. Let them try. And that's why we talk so many cases of FMCG where a group of sashay, 50% chocolate works beautifully well. So, you will get the shots on the category of the category. Don't buy the full category first. Shampoo's sashays will be found. You will get mutual fund in the 10th, you will get gold in the 10th, you will get FD in the 100th. Try them. And then it's now because you are connected to me. Now you have skin in the game. It's easy to listen to those people who will listen to you. So, I think these are the three learnings that I had that don't spend educating people so much before they try to educate them twice. I think people are, people in India, they trust you a lot. And in India, they are very much like, as you go down the city, there is a very large market. But they won't be able to tell you which one is very good. I was reading a stat about the most luxury shopping in India. So, all luxury websites, they told me that they are top three cities. What are your one cities? So, most of the time, Delhi, Bangalore, Kolkata, Chennai, Hyderabad, there is no shopping here. All the shopping, your Lodhyana, Chandigarh, and go even deeper. I forgot the name, H.C. Namhtar, city, there. So, now, your experience, your insights, your learnings, you said that I will start a new one. Right? Now, it was very comfortable to have a job. Why did you even choose to start a startup? I think after working with Harsha and Sachin, I realized that and I am telling you all the issues. I have done a lot of things when I saw them. So, you actually realized that it is like this and I did it. So, that is an important thing. And I think I think people who understand a lot of things like the fact that I take a lot of decisions from the framework of the first time. I think my big decisions are more of a gut. And it has always worked for me. And I thought that if I don't move from Swiggy to Swiggy then that was also a good life. But, in the name of Navi, I have a big opportunity. And if I stay here, I won't get it. So, I have to move. I have to go back to the mountains and I thought that this is the right time. Professionally, personally, my friends are healthy. My wife is working. This is a good time. In the next 10 years, without any personal headache I think that starting is something to do with and you are also a founder. One thing is, we know that our true potential is that our mistakes are being made and our strengths are being made. And I thought that this is a great time. Where you have to make a big change then I will be able to give my life 10 years. July 2022 is a very new year. I had no idea that what you want to start in the field. So, I started watching my own notes and what happened in Swiggy's and Navi's. So, I got some experiences of mutual fund. It is a very big India where there is no financial awareness or there is no awareness or I will talk about it in the next 10 years. But, for this, I have to do something for this. So, that happened. And from there, my co-founder, Harish knew each other from college and that is the 15th year. I spoke to him. And we started thinking what to do and what not to do. And that is how we landed on to stable money. So, in India, it has been 7 years. Gold, real estate, bonds These are all those instruments which you get a fixed return which you would have known that much money is going to be found So if someone's investment is there if the money is 65% there is no innovation in there People are still working in a traditional way So we thought that there is something here a lot of companies have become a grow, zero is a grow where stocks and mutual funds are there and they are also helping people to invest in capital markets But where people have now invested a lot of money in a huge amount we thought that there is a big opportunity and about FDs there are two FDs which exist for 7 years There are so many misconceptions and so many bad understanding and I would like to ask you one question If I say that it is FD of 8% or it is FD of 9% and if you put it on 100 then how much will you make after 1 year? 1% 1% But FD calculation is not that FD of 9% is actually a quarter interest So after 1 quarter you will get a 4-up divided by 9 and it will return to its investment So after 1 year it is actually not 9% it is 9.3% is what you get It is just that government has said that RBN has said that rate is a defined and I am able to save my parents for 30 years and this question I would not know that if it is 9% then actually you get more returns in FD and I am sure that many of your viewers who have seen FDs they will not know this question and they have many questions So I would like to have a question from them about FDs which is very simple and basic which I would like to show your viewers through you and if anyone answers them then we would love to share our 6th table with the hamper to them as well If you give all the right answers If you give all the right answers I am sure that 25 customers will get to know about these things So you are saying that if you have any FDs then you should have a little bit of money Yes I think that I agree and my goal also through this is that Raj is a small FD and that is only to have that safety net of liquidity so you can save the account money You can save 2-3 lakhs of accounts which have been read for a month which I cannot use but you can do it I think you can do that Even it gets you whatever 10-20-30-40-40-40-10000 extra that is incremental that is a smart thing to do For people whose families are and there are many responsibilities they should have a amount because that is called as an emergency fund which can be done or when the job can be done or when the market is crash or when someone else can do the requirement For example if you know that you want to buy a house for yourself which is your own house and you have to take it in 8 months so you don't have to take it in the right price that is the initial deposit or the loan that you have to invest in that should be an FD because you have to get a house for the day and you have to pay it if the market is 10% down what will you do I think there are a lot of these use cases for which I think that FD is a great investment tool and many people have lost the FD I think I think that FD is always bigger as an investment tool and you have to have a small FD that is the goal of our investment that you can move a little bit and you can get a little return on that FD like on mutual front we talk on the returns of FD but I want to cover that because today there are so many lucrative options people say that 12% of the market is bigger so I am a big money here but Raj I will tell you when I told you that the end day is a very forgiving country and it is also true that we forget this in every 8-10 years that every 8-10 years I have seen the 2 sessions of my life and then when there is a difficult time then some of these investments will help you because you need to keep your money in the market and if you have a lot of money in the market or you have a lot of money in the market and when the market is correct for whatever reasons then you will be so scared that you will lose your money but if you keep your money in that time then today in 4-5 years and after that in 4-5 years you will grow more but how will that comfort come when you have a safety net that I can keep this money for a long time because I have my requirements now and for those reasons we believe that fundamental you can learn a lot on YouTube but I want to go through education and this is one basic now that can be 5% 10% 20% depending upon people and the risk but some of these things how many people should be saved for emergency fund and you can put emergency fund in FD I think how many people can make emergency fund in 3 cases because you will not be the same one that is young in 20s but there is no responsibility which is ok now the responsibility of the mod is not his wife so the single that is one use case second use case the same young but the responsibility of the mother is not his wife but his mother or sister and if you keep your money in that time you will not be able to keep your money and you will not be able to earn money and you will not be able to earn money and the third use case is that maybe 30s 40s 20s whatever that is his wife and his children so these 3 use cases so how much you should keep in emergency fund so 65% of the household savings is getting into fixed income which I told you FD savings account gold bonds like instruments India and 35% almost half of the fixed income 35% of the household savings is somewhere in fixed deposit and savings account now this is the national average which is over a period of time so there is some merit to it so we think around 25 to 30% 35% should always stay into some liquid assets like fixed deposit, savings account or anything that you feel is a more liquid asset so 25 to 30% eventually but now you have told the other use cases here I think if you have been in many cases that maybe your parents have kept their savings then we have got tension we have got a lot of tension so we can use the savings if we have got a lot of tension then we can use the savings where I want you 10 to 15% amount you first put it in the Dismar but the back up is not the back up but the back up is not the back up I believe that you start with 35% for the initial 1 or 2 years build your safety net and then you keep producing that so that eventually you start with 25% which is in FDs but initially when you are in a job when your requirements are less then you can save your FDs and improve because your safety net is getting reduced you will be able to take risks faster how much income how much money you have spent I should be able to fund my money people have told me in formal I say that the 12th month is very important for how long the impact of the macro-situations will behave and if there are many things that are in the 7th month that macro-situations is poor job is not there emergency in terms of health comes in so 6 minimum 12th month is a great emergency fund that if you have got 50,000 rupees then you will have 12 to 12 that is to keep the 6th month if you have a 6th month emergency fund then you are very comfortable just to ensure that when your salary is 1,000 then your liabilities will be increased then that you have a 6 lakh emergency fund or 12 lakh that is always important that my income is 12 months and that is why initially over a period of time you will have to do only small percentage I will give you some money I will not grow if you are saying full salary see if my full salary சالری ہے 50,000 ھ پہڑی کی بوری سیف کر ہوں گا تو ایک تو یہ پوصیبل نہیں ہے Right And if I am 50% of salary, சالریத میں رسپونسپیلٹیزوں گی 10 چیزوں گی میں لائیستائی لوگی You will be able to save 10% of salary. Right I am very very saved, சالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں پچھے سالریத میں ایک ہوا چیpetی میں لگا تھا چھوڑاگا یا ہوا لگا تو دھوڑی پہے سے بڑھی گیژ ایتے تو this is like a great way to go. -Right. نوی یہ سینکی ایک ماچ سے کی 50 سرگر سالڑی ہے تو چھے کروڑ کا امرجنسی فندھ ہونہ چی ہے و ریسی لگ کا. -Yes, yes. -یلگ کا. اسی لگ کا, sorry. اسی لہا ہم اس کو پرسنی فاننس بھی قولتے کی بیکہز اب ہرے کنوانزی زلگا لگیا. جسے for example, I know what is the health of my parents. چھیلاکنی مرلے چارلاک بھی مپٹنٹ ہے. انہف ہے. -Yes. یا چھیلاکنی مجھے شاید آٹھ لگگی گا بیکوز my parents health condition and everything is like that where I will have to save. آج ان کو health insurance ملنی سکتا آجہمارے پاس backups نہیں ہے. all of that right. یا فر میں جیس جاوب میں ہوں, اس جاوب کی گیارنٹی نہیں ہے. so I will fast track that. so I think that is one formula کی چھیلاک ہونہ چی ہے. بوس سے plus or minus, آپ جتنا کر پا. the only question is the earlier you build an emergency fund in your career, the easier it is for you. ورنا اس کے بعد it becomes very difficult because there are a lot of unknowns family, marriage, all of those things will keep. اتنے کر چاہتے ہیں. ساوما جی نہیں ہا تھا. then you don't realize کہ where are you going to be. True. -True. True. so with emergency funds specifically, my personal believer was that I should not be a cam. I am a very youngo whatever right. and I read which was very very killer line, that in India, more than 75% people, have emergency fund. -True. which technically means that people, only one, a disease, or a lawsuit, is far from them, actually to completely change their mind. -Yeah. and they will go down from poverty lines, they will be shackled, they will be loans, they will take a lot of money, they will not give us money or they will come in poverty. Only one, if they were killed, or they had a lawsuit against one person. and I was like this is true. and in this case, last two years, I have helped insurance a lot. I have made a lot of money, that if anything happens to me, then my parents should get something. and if something happens, then I have to pay a lot of money to help them. I have taken so much maximum, so much money. plus after that, then I started my debt fund. and then, after that, after that, after that, I started my savings account. I started my company's savings account. Not my personal account, my personal account, I will be in 10-12000. But it's similar, sort of thing, because I own the majority of it, so I can take it out. So I started after this. Before this, I was a little bit tired, I always had such a long range of time, that the entire money comes, the whole all-in extreme, 90% of the money I was investing in, to grow the business, 10% of it, I would invest in equity, I would stock, and then crypto, and then NFTs, and then start-ups and bunch of other places. But that is very, very important. And it has helped me give that cushion in my head. You are 12 months old, I have made 24 months. And I was debating. But, with me, I never saw that I should make emergency fund before I started. Maybe it's a right way or wrong way, I don't know that. I always saw that, if I am earning 100 rupees, then I should give so much of the emergency, I should go to so much of the growth, I should go to so much of the midway. So, more risk, moderate risk, and low risk. So, I will divide it and start doing it. No, I think I know 12-15 months, because I know that, in life, in startup, I will take a risk, where time can be very long. I don't know when the success will come. Same. And for that, we should and we can afford, we should build that, and I am with you, that if I can do it for 24 months, then nothing like it. Because you can take big beds, you can take big risks. Your things. And India's problem is the same. Raj, that because we are, we are in such a situation, if we have any shining object, we will jump on it. Why crypto had more than Deemat account investment? Because everybody thought it's a, opportunity for me to come on of that. So, if we make emergency fund, then emergency fund, that gas, that I understand, will have three options. Emergency fund, I have a little money, which I will take out at any time, and I have to pay more money to the market, that's emergency fund, that I have to give access to. Now, there are four options, emergency fund, one, you can keep your savings account in my account. Right. The other, you can make FD. The third, you can put it in gold, it's a little safe. And four, you can put it in debt funds. Right. Which is the best concept in these four? See, I think debt funds, your debt mutual funds, I think that's not a great option, because you give that too, 7-8% return to the return, because for mutual fund, now, after Franklin Templeton's issue, then, it's that people invest in safer bonds, your debt mutual funds, where the returns are generally less. So, if it's good enough, you get FD for the 8-9% that's better. And first, the taxation benefits are not that. So, debt funds and FDs, that's a better option. Okay. Saving account is not a great option, because you can make 2-2% and today, you get FDs and mutual funds, enough liquidity options, that you will get a click on it. So, savings is definitely not good, because you get a lot of return there, you get FDs again, 9-9.5% return, and liquidity is not that fast. And today, you get a premature return in FDs, then you get a penalty of 1% so it is still significantly better than the savings account. Now, the option is gold and FDs. So, the gold is also price sensitive. If you see, in the past year, the return of gold was 15%. The average return of the past 3 years is 30%. But, I think, if you look at the duration of the return of gold, the return of gold is 30%. Or something like that. So, gold is also a good lower. Today, it's around Rs. 1000. You can see it today. It can be Rs. 70000 that day. Because, markets are up, inflation are in control. When, in the market, there will be a lot of liquidity, your gold price will come up. So, that is also some risk that is available for you. When you go to the beach, then it might be a price sensitive. But, as I was saying, gold in long term is a great investment. But, short term, it's not. But, gold and FDs are one of the two gold options. You can keep higher in FD funds. Imagine, for emergency fund. Maybe lower in gold, gold too. But, gold for some point in time could be up and down. Okay, so, my family is in FDs. They believe in FDs. Actually, I won't say much because they are in a very real state. They believe in FDs. But, when they have fixed for short amount, they have to pay for the fixed duration. So, they make FDs for everything. And, today, they have a sweeping option. That's the problem. They have to pay for everything. So, the people who are fixing the deposit. 5 to 6% return. Why do they get the maximum? And, how do you give 9% to them? Because, maximum banks give 6% to them. Right. All the big banks, they have to take the rates. They have to take the rate of their public. They give 5 to 6% to them. How do you give 9% to them? So, FDs can't be given in India. Even stable money is not FDs. FDs are only given by RBI are regulated banks and NBFCs. So, you can buy FDs from our platform or from the other. They will only give FDs of NBFCs. So, we have to take more than that. And, the rate of the big banks is 5 to 6% I will tell you a lot of staggering numbers. This is also a number published. 35% of FD is in top two major banks in India. 35% and that is 5 to 6% Considu banks say SBNHTFC. Yes. So, it is such a large amount. And, only 1% of FDs are earning more than 8.5%. And, there are good small finance banks which are offering this. So, now, we are talking about the ones that are not in the right place. These are those small finance banks. The first is the microfinance issue. Then, they are doing small finance banks in RBI and such license. Now, what is FD? You always have FDs. You contract with banks. That you have FDs. This FD will guarantee you the same amount of FDs. Then, the bank gives it loan. Corporates, individuals, car loan, house loan, multiple things. And, there are more rate of that. The number of its number which you are returning. And, this is their profit. Now, many times, even in their loan losses, they cover up and keep the margins. Banks. Now, these small finance banks, jinn logan ko loan dhitiye, they give loan at a higher interest rate. Right. Or, what is the higher interest rate? Ya, for some higher interest rate, why is it taking place? Because, shayat logan ko ya, on SMEs ko ya, on company, sko bade banks loan dhitiye. Risk your bets. Ha. It's a risk your bet. Ya, fir, wo jinn small finance bank, generally is a very regional or a state level kind of a bank, wo state, wo logan ko bhaat atchise jantai. Yek chi zmushishachin ne bhoot interestingly boliti ki, agar me, raste bhi chanung aur sologun se baat karo. To me, pse pachis logan ko loan dhitiye, agar me, nko jantai onto. But, agar abh dhikho, agar yeh hi logan ki liye apply kare hai, to sif chaar se paant logan ko loan bhi taha hai. Bikos, data is not enough. On logan ko jantai onto ke aspirasiant samaizuna onto logan ko integriti samaizuna is very important. So, you just small finance bank, jinn states me, kar teye, ko on states ki logan ko vahapar unki deeper connect se collection zach hai. To vahapar, wo on logan ko loan dhitiye. Arun logan ko, zada return, zada rate pe loan dhitiye. So, let's say ki agar koi bang zada rate pe loan dhiti sakta hai. To vaho, zada interest bhi dhiti sakta hai, customers ko. So, agar koi ek small finance bank, aap ko nos ade na persendir hai. It's also because, wo aage loan zada hai me dhitiye. Aar agar koi bada bang kaap ko paant saada pan dhitiye, wo aage loan kamis bhi dhitiye, cosmuseum P recover because bhooz adha risk nye dha baad e small finance ban cobra nos ad nae person qajure te vaha paragar Correcto Ka baagas paan salak ka paas saark Thya distala ke pa allegedaak paan saade paarsh paaak chalak pa transparency bangks ko kuj bhi huja hai indu no bangks ko ves cry paonch lack rupe aapko di yes van jowi ki fu li onikan subsidy Reay dm dhi si ji si ko aur buonu na insurance lehrak hai too paanch lack takh ka paesa indi vijwali haar bangk hai correct aad ke paas tine bangke hai ek saade nao dehra ek nao dehra ek saadea hai dehra ek dehra ek dehra ek aur ek paansh dehra too paanch paanch lack rupe karke bhi slak rupe dal saakhte jo bhi slak rupe inshod hai God and agar bangk bhandu adha goi he too fir kye sa peh sa miling hai paash lak bol to diya naig deh deh dehne bangk wali wad kye sa dehne kap dehne kitna timei nao tha hai kitne iwar lain wailag nao vaad heh kitne paapad bhi leh wailag nao vada hai yeh vitao nere aating lain wailag nao ke zirwat nao yeh bhi kye zirwat nao yeh bhi kye zirwat nao yeh bhi kye zirwat nao yeh bhi kye zirwat nao yeh کیا کیا تریقا ہے, ایسا کو فامولا ہوتا تھا سا فعلو کر لے تھے, I think formula is, but look at it, but look at it, and the formula is, because its personal finance is very personal to me, and I'll tell you, JAP TAK, I think it's like a two lakh rupees per month, your salary never goes up. Taptak, you should just keep investing in yourself. That's the formula to go from 50,000 to 5 lakhs. It's, you know, you get money, you forget everything else and just focus on the new skills that I can learn, I may also do new courses, programs, conferences, or new people, or new businesses, or startups, or I can do so much work on myself, or I can invest in investment, or I can invest in time, I can do it if I'm a editor in a daily learning, then how to become the best editor of the world, so that I can get a replacement. So the formula, a 5,000 rupees, it's 50,000 rupees, and 50,000 rupees, it's 50,000 rupees, and it's 50,000 rupees, the difference is only, that you invest in yourself, how much effort you get, how much you invest in yourself, that's the biggest investment, that you invest in yourself, you'll get a lot of actual growth in life. Oh, that's amazing. And that's the formula, people don't follow, people are looking for it, I think that's it. I'm a fatacca, which you buy, and the money you spend on the night, no, buy such things, that you'll spend your life, and that's the skill, and that skill will come, when you'll spend time on the money. Correct. No, no, I agree. And you don't have enough patience, because it's not like, you'll have to do it for 6 months, and you'll have to do it for a year, you'll have to keep it at it. And for a year, you're as in years. Yes. And then there is one point that comes in suddenly, you're the one that comes in suddenly. Yes. And this, by the way, this formula is only 50,000 to 50,000, for the people who have to follow. After 50,000, this formula comes in team building skills. It comes from 50,000 to 50,000. Then 50,000 to 50,000, maybe investment management, investor management, shareholder management, then you'll have to learn a lot on that. This skill, self-investment skill is only for people who want to go to 50,000 or five lakh. After that, you'll have to do more investment in investment, you'll have to do more on other people. That's a different ball game. That's a full-level analysis. That's true. Don't waste your time. If a person says, "I'm saying this, I'm learning it", he'll be able to save five lakhs. But I want to control it. That's true. I think that's what I think you need. Different set, and you've said that you're saying, you're putting five lakhs on yourself, then you'll have team, then you'll have mentors, then you'll have well-thedvisors, and then different stages where you'll have to keep safe. And as soon as you go up, you'll become a risk-capitate. Because you can't lose that. Today, you're very young. You can afford to lose all of these things. Because once you start making money, your lifestyle gets upgraded, your expenses get increased. And if you think about it at that time, even if you don't have any savings, you're still in risk. Today, because I think, my personal life was until I reached 50,000 months ago, right? I was only a month ago. Till then, my lifestyle was very frugal. Yes. It wasn't that good. So, it wouldn't have made like a huge difference if I'm making 10,000 or 50,000. Because I was getting up. Because for me, the best thing that I think majority of people today have become like this. Right. Right. At least, the good colleges have gone to some of their homes, they've given them their place. Right. So, you live in their homes. So, you have to rent them. They get free food. Because your parents give you food for your parents. Right. And after that, your money increases even if you're in a family. Right. So, if you do these three things, then the responsibility is zero. Right. Then, your responsibility is not anything. Right. Because, you can also move in the metro and city. You can't do anything about it. And I think, I think, I think, parents should also and I don't know how many parents they see. They should also support them in initial years. It's okay for them to try other things, seek other things. So, that you can they themselves understand their skills or their love. Where are they? What I really like doing. After watching the podcast, there's no convinced that I don't have to keep my money. I don't have to keep my fixed deposit. I don't have any money to save my money. I'm just getting the money. I'll put it in the stocks. Or, I'll put in crypto. Because, I earn more from there. Right. I don't believe. My salary is 25,000 to 50,000 a month. And I I'll just get the money. I don't have to waste my money. I don't have to spend 2-4% 5% interest. I don't have more interest. Okay. So, how do you do that? The non-believers. Which they say, "FD, I have to keep my money. I have to pay my money. Right. Which is the larger narrative. Which is quite true. If you get all the cases, which are the personal responsibility. Right. So, how do you convince them? Which they say, "FD, I have to pay my money. I don't think I think that for these people, and many people, I get the money. And for these people, the most important narrative is not because they have made the same the same thought. There are a lot of people who advise that this is the right thing. And I have made a lot of money. So, you can make it. Follow me to make this money. Right. And I want to say that, I am very grateful to all of you, and through mutual fund, through start-ups, through these good founders, or now we work with the same investors. We have talked to all of them, and talked to them, and the people who have made a big money. Right. Over a period of time. I will talk about the short term, because you are maybe just lucky. In short, you have made a big money. But those who have made a big money consistently on long term, they have no strategy to use this. I will keep all my ex in one basket. It is impossible to do that. You will find one or two exceptions. But we talk about averages and mediums. And if you are genuinely exceptional, then it is different. But 99.9% people are not exceptional. For those people, this is the advice that the rest of the world has made money consistently, not in last five years, but five, ten, fifteen, twenty, thirty years. These people have followed the strategy of portfolio allocation, not keeping all ex in one basket. It helps in multiple ways, your focus, your time, and everything. So, if you see that, I don't know how to do it. But those who have made money, always keep on making money. And maybe you can go up as high as angel investing, as a riskiest investment, or crypto, as a riskiest investments. But you need to have your portfolio across, you can't have everything in stocks and mutual fund. And now, the market and today, we are doing what we are doing today. Now, we have seen so many people who have 100% of their money in them. And they are struggling. Now, it would change. We are India's story, but we are China's story. So, in 20 years, the stock market has given zero percent return. Why do we think India? India will not face this. I genuinely believe from my heart, patriotism, numbers, because it might not be this. But it could be. Then what will you say? And these people will know where we are found, that, don't invest in stock market. When the market is falling, then you will not get any people. And that's the thing. You are scared, man. No, I think I am not scared. Because, as you have a goal, that you want to make people aware of YouTube, I think our goal is that, we want India to have that emergency fund, so that risk, people can risk their lives. They can do it, which they want to do, which will help in growing India. And this is one way of doing it. India and I would say the same thing, which I told you, it was the best formula for me, and if you want to follow someone, which is the formula for me, if your inconsistent income is there, then go to the consistent return investment. If your consistent income is there, go there and balance it. And that was the best. Because I think, in my life, I will do my business for the first time in my life. I have a lot of money, double triple multi-bagger for me. So, I will earn money from here. So, I will do my business here. So, I will keep some income in this. So, whatever I earn from money, then I will try to make it safer, consistent investment. My majority of the risk investments are less. No, no, and Raj, that is India. India, has a lot of less people, who are just, and they are the people who are bankers, who are well-tidious, they are the ones who are working, and they will make money because they are doing the same thing for the day and day. Exactly, for the business. Yes. And if you are not doing that, then you need to follow the strategy that you said. It has to have a balance. So, if someone thinks that they are doing the job, they are doing the business, they are doing the particular skills. If they are making more money, then all of their income, majority of income should be in safe investments. But if they are thinking, no, I am saying that they will not make money, they will not make investment. And I will take care of the investment, I will work from 8 to 20 hours to 8 hours. Then it is a different case. Absolutely. Because how to feel my feel, Joby your strength, 1% log, crazy payse gamate, n% log, 30% log trend ke saapse gamate, baaki log payse do baat, Budo baat, And you know what you are doing, and what you are doing is, you need to invest in this one percent of people who want to invest in this, they are building that skill, to make more money and they will, and actually, finding out that leverage and getting that returns, do that. That's the thing, perfect, thank you so much, it was pleasure talking to you, Jensus. Thank you so much, I think he said, "Will I Jensus up?" I don't know, but my dad told me that's why I wanted to say that. No, it was pleasure and I always enjoyed watching you. So it was an honor to talk to you about this, about the work of the Mokha Miloar, who share our thoughts and philosophy with you. Thank you so much for doing this, I really hope that people will make their own emergency fund after they take this opportunity. And because this is a new year, so now I start with thinking about how I can do it. In fact, if I don't do it, at least, click on the link, and I feel like it's a new year, and that's my objective with this. Absolutely. Thank you so much. Thank you so much for watching this episode. You know that you have to do three things. Number one, subscribe to this channel because you will get a better and better guest for you. Number two, comment on which guests you want to see on our podcast. And as a questioner, you will want us to ask them. And number three, this episode will definitely share with one person in which a positive change will be made in life. We will learn something from this podcast and we will get the information of this podcast from our life better. Because one conversation is enough to change someone's life. I'll see you next time. Until then, keep figuring out. [Music]