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Our aim is to increase awareness of money among people.  The usual way is we write an article thinking what we need and then wait for readers reaction. This time we thought of  a different approach, see perspective from the view of a 20 year old with a job, no kids. Subbu, our reader, was kind enough to accept and share his thoughts on money, financial planning,investment,insurance. Subbu has Btech in Computers. His hobbies are Internet, reading, movies. Reading is restricted to self-help books, magazines, articles on money, finance and anything related to India’s current affairs. So without much on

What do you feel about money?

Money is something which is to be spent well(wisely). There is no point in saving money if we’re not planning to spend it for our needs.

 How important role does money play in your life?

That would be obvious. It plays a crucial role.

 What do you do with money : Give to parents, spend, save?

First I spend it for my needs. I spend a lot on Petrol, clothes and food. Food dominates the expenditure since I don’t prepare it at home.  As of now I don’t need to give my share home. Yes I do save almost 1000 a month.

How do you save?

I save 20%. But it’s actually my company that saves it for me. 20% from my salary is deducted every month and this accumulated amount is credited to my account every 7 months, kind of like bonus. But this amount is definite and regular.

Other than this I’m personally able to save only 7% from the remaining 80% of my salary. My salary is 3.5 LPA, you can do the math now. I started a separate account in addition to my salary account. On the receipt of the month’s salary I transfer 1000 or 1500 through online banking and this is done every month. I don’t withdraw or swipe cards from this account. I keep this as a contingency fund just in case I run out of money in my main account and I’m in immediate need. There is almost Rs 8000 as of now in this emergency account.

What are the expectation of your parents from you in financial terms?

From the looks of it, my father has high hopes. In a few years, maybe 6, he’s expecting me to have a salary of maybe 1 – 1.5 Lakh/per month. It’s not what he said directly to me. It isn’t also something which he forces on me to achieve. I was able to make this out from his talks that when I get more settled in the coming years, we’d buy a bigger plot for ourselves and build a more comfortable/spacious house than the present one. Plus, he knows that my area of expertise is lucrative.

Do you have education loan? Are you repaying it?

No and no.

Do you pay your credit card bill on time?

I don’t own one. I’ve received many calls marketing them to me. But I was always skeptical and it is about the fee/charge these cards levy you. But I’ll study more online now as my need to get a credit card is increasing which is mainly due to foreign retailers.

With whom do you discuss about money?

Sadly I don’t have anyone as a personal choice. Without doubt I can ignore my age-peers( 20s) friends for seeking help. Whatever I’ve known/learned have come from online interactions with knowledgeable persons.

What do you fear most about money?

I fear of loosing it without any gain. If I’ve spent money lavishly or meagerly on something I should be sure that it was worth it.

Do you invest? If yes how do you invest?

Yes, the big question and the most formidable subject for me. I always dream/yearn to invest money. I’ve always read about it and I will not give up until I do it. The venues I know are : land, gold, stocks and forex trading. But I have been lazy for quite a bit and haven’t been on to study them in detail. Else I would have been already investing well by now. I’m very curious and eager to learn about the latter two. It is challenging and quite lucrative if played well. But it needs much research and time before you can gain your feet. Well they are on my TODO list and I will do them one day. I wish someone take an effort to compile brilliant tutorials for us beginners in one place for stocks and forex-trading. Most of the info are scattered round the Internet and it’s very difficult to separate the head from tail

Luckily I was suggested to choose a safe option by my Manager – PPF. I invested 50K into it 6 months ago. I’m planning to make another investment when my next salary-bonus arrives. The crystal clear explanation given on your site(Understanding Public Provident Fund, PPF) made me much confident about PPF accounts and I took the plunge without further ado. Thanks :).

 What are your thoughts about Financial Planning ?

I have thought a lot of financial planning. It’s what drew me to websites like Bemoneyaware, Onemint etc. I thought about Insurance but it didn’t seem profitable. Yes, people say Insurance shouldn’t be thought of as Investment. But if you do the right investment which fetch good profit then why go for Insurance when the Investment-money is at hands for disposal at any time?

 About a personal financial planner?

I didn’t know such services existed. I knew of financial experts who’d help you plan your portfolio for investments in stocks/shares once you subscribe to their company’s service. Other than them, I didn’t know of any other. I’d hire depending upon the money they charge.

Are you satisfied with yourself?

Even though I dress up well and look pleasant when I get out I feel a big void inside me. The void created by lack of knowledge about many current affairs that govern life and society. Finance and political matters would be a quick few to name. While I’m pretty good at my profession I feel that there is a very big group of people of my generation out there who’d  fail at the practicalities of life. That is where I’m striving to achieve.

Our website has articles on of salary, credit cards,debt, loans, investing,insurance which will be helpful for readers in 20s-and-30s  

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Thanks a lot Subbu for sharing your thoughts on money,investing,insurance,parents expectations,personal financial planner.  Things have changed so much in two decades, from when I was in my 20s but could identify myself with him about money, spending,parents expectations, no one to talk to money about, not sure about where to invest. But the times have changed. I see people in Credit Card debt, buying home well because they have to buy and job scene, low growth,pink slips. Do you identify,agree  with Subbu? Those you are not in 20s what would you like to tell people in 20s regarding money? Those in 20s are you in same boat as Subbu? What are your fears, aspirations?

If you are in 30s,married with kids or without kids or in 40s with kids or retired and would like to share your thoughts on money Please let us know by dropping an email at


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