How to Save, Invest & Buy a House on ₹30,000 Salary | Money Matters Ep. 124 | Ankur Warikoo Hindi
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Money Matters is a series where I have conversations with normal people such as you and I, on your personal finance issues. It is important to note that I am NOT a financial expert, I am NOT SEBI registered, and I am NOT qualified to give financial advice. Everything that I say in these videos is purely through my own experiences.
So these videos do not offer any stock tips, or specific mutual fund recommendations or get-rich-quick schemes. I am not selling any product or service through these videos.
None of the brands that I mention in these videos have paid me to mention them, unless I explicitly say so (and I will say if the video is sponsored).
This also means that my advice may not always be the right advice. So incase I make a mistake, the best way to correct me will be to share your point of view in the comments, so that everyone can benefit from it.
I am not perfect, nor claiming to be either and would love to learn and grow. The idea is simply to help people with their finance journey and through their story try to help others who may have a similar story.
Siya earns around ₹30,000 per month, contributes to her family's expenses and has a big financial goal - buying her own house. In this Money Matters episode, I sit down with her to understand her income, expenses, savings and responsibilities, and create a simple financial plan that she can actually follow.
I explain why I would first build an emergency fund and get health insurance before starting long-term investments. We then create an ₹8,000 monthly investment plan across a Nifty 50 mutual fund, gold and a flexi-cap mutual fund, and look at how consistent investing could compound over the next 10-20 years. I also explain why I believe she should wait before taking a home loan and build a stronger financial foundation first.
00:00 About Siya
01:08 Expectations from Money Matters
02:13 Current finances
06:10 Plan for finances
09:57 Future projections
10:46 Questions from Siya
11:45 Closing remarks
#PersonalFinance #MoneyMatters #warikoo
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