7 Steps To Master Your Money | CA Rachana Ranade

"basic math 5000 I've given a multiplier of six okay now why is this so as per the basics of money management six months of your monthly committed expenses should be kept at a place from where you can quickly access that money"

"whereas Monal got a return of almost 10 percent because she had parked her funds in various investment assets"

"so how much excess was she keeping in her saving account that was 90,000 rupees, now tell me what is the problem in having 90,000 extra in your saving account is there any problem? Less returns"

"I feel this is a course which should have been discussed for everyone at the school level because I feel that we were taught about a lot of concepts at school which at that time we felt very important just to secure marks but they really did not have a great impact in our daily routines"

"What you thought about finances in school? Not that much not much no, no, not much one by one sure what was that one by one jump one by one by one two that's it okay not at all no no this is a collective answer do you feel teaching finances at school is very important? Yes yes collective answer"

"so it's not about only how much you earn I think equal importance is about how do you save? how do you manage? and how do you invest that money?"

"so basically you are not going to say I I want these many funds for party that's a necessary expense that's not one that's not going to happen"

"why because she has parked in different asset classes like like equity shares it will take two trading days right CA Madam is on her toes because she knows that for Equity if you were to sell the shares it takes at least two days to get the money in your bank account it is called as a T+2 settlement"