Is a Rs. 20 LAKH Business Loan at 22 a Good Idea?! | Money Matters Ep. 80 | Ankur Warikoo Hindi
Published: 2025-09-24
Status:
Available
|
Analyzed
Published: 2025-09-24
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
It is recommended to get health insurance for parents aged 50+ due to the high likelihood of medical needs.
"At the age of 50 having parents insurance is a really good idea and the likelihood of needing it will also be high."
Correct
There will be a waiting period for insurance policies covering pre-existing conditions.
"So there is going to be a waiting period for a peed or a pre-existing disease pre-existing diseases insurance."
Correct
Term life insurance is recommended for the sole stable income earner to protect parents from financial hardship in case of their death.
"So life insurance is definitely something I would recommend for you because Abhi you are the stable income earner of the family. That means if God forbid anything happens to your life, your parents may be in a financial situation you don't want them to be in."
Correct
A 50 lakh cover term insurance policy can be obtained for approximately 500 rupees per month for someone born in 2004.
"Because you're extremely young right now, you will get it the cheapest. What is your year of birth? 2004. So if you take a 50 lakh cover which I think is a good amount for you to start with, you can get it for 500 rupees a month."
Correct
Business loans are best suited for machinery and equipment, not rent deposits. A better approach for studio setup might be to find a partner who owns property and is willing to collaborate.
"The machinery, yes. The equipments, yes. To some extent, the interiors also perhaps, yes. So, my suggestion is the following. You should instead of looking for a business loan or to set up a business in the first place, try and look for somebody who has a shop which they do not know what to do with and are happy to open up the studio with you."
Correct
Seek a business partner who owns real estate but lacks experience in running a makeup or cosmetology studio, allowing them to provide the space.
"So look for a potential partner who does not come with necessarily money but comes with this real estate but with no experience of running a makeup studio or a cosmetologist studio because that person will be able to give you the shop at free."
Unrated
If the rent deposit is secured independently, a business loan can be used for interiors, machinery, and equipment for the studio.
"Now if you can somehow arrange for the rent deposit and everything that is required to pay the landlord as a security or a collateral then the only amount left for a business tour interiors, machinery, equipments, etc. that can be arranged through a business lo"
Correct
A comprehensive business plan with revenue, expense, and profit projections, demonstrating early profitability and loan repayment capacity, is required for a business loan.
"You will have to create what is called a business plan. A business plan is revenue projections, expense projections, thus a profit projection showing that you are making money either from day one or very quickly in let's say whatever. And there is steady income that can support a business loan EMI."
Correct
Numerous government schemes exist to support women entrepreneurs and business owners, which should be explored for funding.
"And what are the government schemes that I can avail of that can get me this business? Because there are at all points of time numerous business schemes and government schemes that are running specifically to support women entrepreneurs and women business owners."
Correct
An alternative to starting a studio immediately is to focus on steadily increasing freelancing income over 1-2 years to self-fund the studio.
"My third option for someone like you Kana is don't start a studio. Instead try and build your freelancing income steadily and over a 1 to 2 year period save money to do it on your own without the need for a loan."
Correct
A yearly income goal of 4 lakhs is proposed, with savings from this income to fund the studio in two years.
"Your goal should be 1K 40,000 four lakhs every year and save I will have 8K invested in the next 2 years which will then help me start my studio on my own money. That should be your aim."
Pending
Instead of building a personal studio, cosmetology services can be offered by renting space in existing studios.
"With cosmetology you can pitch cosmetic services but instead of making your own studio go to a existing studio and rent their services for that service."
Correct
Propose to partner with existing studios or clinics by offering services to your own clients using their setup on an hourly or daily rental basis, acting as a visiting cosmetologist.
"So go to them and say hey I want to become a partner because I have my own clients. I want to service my clients but I need your setup. So will you give this setup to me on a hourly or a daily basis and just say clinics may visiting doctors where you will become a visiting cosmetologist"
Pending
The 12,000 surplus from stable income should be invested aggressively through SIPs in Nifty50 index (6,000), Flexi Cap (3,000), and Small Cap (3,000) funds.
"This 12,000 in my opinion can take risk, can be slightly aggressive. So what I would do is the following. I would start SIP number one of a nifty50 index of 6,000. I would start SIP 2 which will be a flexi cap SIP of 3,000. and I will start a SIP3 which will be a small cap SIP of 3,000 which is a total of 12,000."
Pending
100% of freelancing income should be invested: 50% in a liquid fund, 25% in a gold mutual fund, and 25% in a corporate debt mutual fund for stability and consistent returns.
"My freelancing income now freelancing income whatever you make ideally you should invest 100% of that. 50% of it should go into what I call a liquid fund. ... 25% into a gold mutual fund. ... And then another 25% in a corporate debt mutual fund."
Pending
An investment portfolio of 10 lakh rupees is projected within 2-3 years, combining risk and stability, to provide financial freedom by age 24-25.
"So you will easily have about 10 lakh rupees in 2 to 3 years with a combination of risk as well as stability giving you the freedom to do whatever you want to do by the time you are 24 or 25."
Pending