TomorrowMakers

How I manage my finances
Mukesh Keswani
Businessman

I run my own fabric business. I have recently bought a house and a car. So I have large sums of money going into EMIs. This makes it even more important to have a tight hold on my finances. I have kept both EMIs on auto debit on the 10th and 25th of the month. This way it does not put undue pressure on my business. Also, auto debit means I don’t miss an EMI.

In term of savings, I invest in SIPs and have created an education fund for our daughter. We want her to pursue her dreams and go to study abroad. So we are working towards it. I and my wife also have life insurance policies to create a safety net for the other spouse and child in case something unfortunate happens. This also helps in tax savings. Our entire family loves to travel, so we have also created a holiday fund to take some time out every summer vacation. 

I also want to start a retirement fund, but do not have the financial means to do so currently. I plan to start that as soon as my car EMI ends.

How I did it

Praveen Nair
Retiree

Ever since I retired, I have looked forward to the festive season with added zeal. It is the buzz that I need once in a year in my laidback post-retirement life. I like to celebrate the occasion, get the house painted or renovated, buy gifts for my dear ones or go on a vacation. These things… Read more

Swati Mehra

A couple of years ago I was over the moon after landing my first job. I celebrated regally during the festive season that ensued, only to land in a financial soup for the next few months. With gargantuan credit card bills and barely any cash left, I had no other option but to default the payment… Read more

Rohansh Pathak

It is highly unlikely that all the expenses made during the festive season were worth making in the first place. This is the time of the year when unavoidable expenses are bound to upset your budget plans, and you can do little about it. However, I have made it a point to have a look at the… Read more

Shubhra Banerjee
Homemaker

I am a single mother of one. I lost my husband just 5 years into my marriage. Life has been a struggle for me, but I have managed it and today I have no complaints. 

I was a young widow with a 3 year old son when my husband passed away due to a heart attack. My parents were my rock… Read more