To be the most preferred networking platform for women to help
them cooperate & collaborate

Read Our Blogs

Become Financial Independent from today!

Women Empowerment

March 2018, I quit my job. I relocated from one Metro city to another Metro City. After  a decade of my experience into  Corporate Finance, I wanted to be my own Boss now. I was an aspiring entrepreneur and came to this City with Big Dreams and a stagnant bank balance. Fast forward my journey as an entrepreneur began, expenses shot up like anything and my bank balance was dropping low!!

My revenue generation was peanuts even after a year, while on the other side I was investing hugely on my self-development.

Why I am sharing my story with you is simply to emphasise on one thing which is Financial Independence.

Every investment I made right from self-development to my crazy expenses in entrepreneurship, was from my own pocket. I made sure every expense on me will be taken care of by me only... Just because I have no job today, does not mean my expenses will be covered by someone else.

Just because I am working from home today, does not mean I have lost my identity.

Let us take you on what I did that came as a rescue for me for a year and will forever be:

  1. 50-30-20 Rule of Money: Ever since I started earning till today when I earn in peanuts comparatively, I have followed this rule religiously. 50% of my income was part of my necessity, 20% strictly on my investments and 30% for what I wanted to do to enjoy my life. There had been cases wherein I breached the rule. Majority of the cases, the rule was breached because I wanted to invest/ save more and a couple of times I breached the rule so can travel with that money. I am a crazy Traveller by the way.
  2. Investment Planning: Being an Investment Banker myself, I planned my own investments. I was clear about my short term and long term financial goals as well as Liquid cash/ Emergency Fund. Having said that all these criteria need to be met precisely, I invested in self-analysed Mutual Funds, SIPs, RD (emergency fund), RD (as my travel fund), NPS, PF, had bought a couple of Gold coins as well (just for fun...and honestly speaking I felt good).
  3. Segregation: I kept my eggs in different baskets. So my segregation of Funds was quite simple. Long-term and Short-term funds were well planned. I also had a separate account for my Monthly Expenses. That too helped me in managing the fund till the end of the month, and I never ever fell short of my funds on the last days of the month.

The income that I saved yesterday is still managing my Expenses today!!

Nevertheless, be a Smart Planner, and beyond that be a Smart Investor.

Identify what are your Needs and Wants. This is the first step, once we are clear on this outflow of money is controlled.

Yes, we do earn and want to live a lavish life, Everyone does ... RIGHT??

But first, fulfil your NEED, and be ready with your Emergency Fund. Rest will follow...!!!

-NEHA TRIPATHI (Entrepreneur, Speaker, Trainer, Writer)

Admin

0 Comments

53 Views

Post Comments

Leave a comment

Looking for Work From Home?

To be the most preferred networking platform for women to help them cooperate, collaborate & grow together.