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

Kunal and Nita
Software Professionals

We are a family of five, with two kids and my mother who takes care of the house. Nita and I are both software professionals. Initially, with the kids, we found our expenses spiralling and were not left with anything to save or plan for our future. 

We decided to classify each major… Read more

Vaishali Pednekar
Teacher

I believe life is too short to not to indulge in things that make you happy and I love myself some retail therapy. However, I found myself in a financial disarray a couple of years ago. Sometimes I was overspending and falling short on my bills, but mostly it was just poor planning.

I… Read more

Payal Singh
Media Professional

I have just started working as a journalist. Though as a newbie my salary is not a lot, I still make it a point to save. My parents are middle-class salaried people who have built a great life by saving small amounts for years. They have taught me the importance of saving. With the help of my… Read more

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… Read more