Money Talks Weekly

Hi All,👋

I am planning to write a weekly blog with my learnings around savings and investments. Hope this might interest you, we will email to our subscribers on weekly, Wednesdays.

Thank you for the support on Social media🙏, it is nice interacting with you. I run a stock brokerage firm in Kochi, Pentad Securities. Personally get a lot of opportunity to speak with many people on their money matters💰. I am planning to share these learnings via this blog going forward. Please share your feedbacks.

In Kerala, we generally are good people😍. Hard working, save money from their job mostly from outside Kerala and bring in Kerala. We have good productive population outside Kerala. Always, wonder and wish to see good paying jobs to be available in Kerala itself. It is going to happen soon.

Today, I want to speak about the power of automating your savings. Most of the people in middle age, worked in any job would have taken any loan and paid EMI💳. EMI is an amazing tool for bankers to collect their loan in automating and smart way. All the banks🏦, income is generated out of this EMI. Same time, it is the reason most of us compete our loans on time. Most of us, won’t even look at how much interest charged or any other charges levied in the EMI.

This technique is really working well for banks make their money. Same tool🏹, we should be using for our savings. Don’t expect ourselves to write a cheque and save regularly for future. Whenever we see extra money in bank, we like to spend or environment around us force us spend. End of the month, no balance, no savings.

Solution🥷 for this – Automate you Savings ✊via SIP🛄 ( Systematic Investment Plan ) to Mutual Fund or Auto debit for your salary account to separate account. SIP won’t be new for you, It is a simple automating system from your bank account to investments in specific investment tool (it could be Mutual Fund or Equity or Gold 🏅or list goes on ), you can specify the date📅, money 💰 to deposited. Also you have the flexibility to stop any time, withdraw any time ( depends on the scheme)

When you do this automation, Keep a goal🎯 for this investment. Let’s say, I want create 1,00,000 as an Emergency Fund by 31-Mar-2024. If you can do a SIP of 10,000 per month. You can achieve this goal, also you gain the confidence of having an Emergency fund and you have not spend 10,000 INR each month. This hack can be done for all your goals, save more and Spend less.

You may already doing this, it’s good👏. You can look for another goal. But if you have not following this, Please start Today !

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