TomorrowMakers

This is how I took charge of my finances
Mr. A. Sarma
Retired Government Employee

Having retired more than a decade ago, I often look back at the investment choices I have made in my life. Times were much simpler when I started out as a government employee. Risk-free saving schemes were far more rewarding and there were not many options to choose from while investing. I had invested small amounts in the national saving certificate scheme early on in my professional life. They used to double in five years back then and I just used to reinvest the amount that matured after five years. So by the time I retired after 40 years of service, I had reinvested in my NSCs eight times. This meant that even a 1000 rupee certificate turned into 2,68,000 through repeated reinvestments!

During these four decades, the value of land increased many times more than those NSCs. So did I miss out on the nation’s growth by playing it safe? Should I have diversified a bit more, albeit within the limited options available? It’s for you to decide. As for me, I am not complaining about the return that I got, as it covers my retired life well and truly.

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