Spent lockdown learning about stock markets, says Shreya Mamgain of Visit Health

As “Carpe Diem” seems to be the motto to live by, early investments for a secure future are often overlooked, especially by newly employed people. The right investments early in life, however, will help you manage your money and control your finances, which will help you accumulate wealth faster. To understand what money means to today’s youth in a growing world, this series examines students and young professionals and their perspectives on money and finance.

Visit Health’s Shreya Mamgain tells MintGenie in an interview how her counseling sessions with her father have turned into a two-way exchange over time. He is 21 years old, born and raised in Delhi. He recently completed his Bachelors in Business Administration from Indira Gandhi Technical University, Delhi and has just started his first job as a growth partner at a startup ‘Visit health’.

What does money mean to you? Is it the most important factor in your life decisions, such as what to study, career, etc.?

Money may be considered a basic necessity for survival, and in my opinion it also gives us power, independence, empowerment and all materialistic pleasures, but it is not the ultimate wealth in life. Money is definitely a vital consideration when it comes to most decisions in my life. I am constantly trying to determine if a particular option is worth it and how much it will affect my budget.

What do you currently spend your money on each month? Can you give a percentage breakdown?

I recently graduated from college and started my first job, but since I don’t have much responsibility right now, I immediately invest about 40% of my salary in stocks and mutual funds because I’ve always been passionate about investing my money. . The rest of my money is spent on shopping, food and other expenses, apart from the 10% I spend on commuting from home to work.

What are the things you want to spend money on?

Well, I think your experiences are what stay with you for the rest of your life and are a constant source of joy, so that’s what I want to spend my money on. Traveling the world, experiencing different cultures and going on exciting adventures with my loved ones is what I love the most and gives me the greatest pleasure. I love to go out and collect all these memories, because I believe that these life experiences also have a big impact on our personality and have shaped us into who we are.

Are you saving money? If yes, how often and what do you do with this money?

I invest most of my money, so maybe it counts as savings in a way, but I avoid using that money unless I have no other choice in that situation because it affects compounding. That’s why I try to save at least a portion of my income for unexpected expenses or when I want to make a big purchase.

What does having a job mean to you? What are the two main factors you want to consider when deciding to work for a company?

Having a job is important to me because it allows me to develop skills and experience that I will need throughout my career. Even if I change careers later in life, these learnings will always stay with me. After graduating from university, I feel like I entered a completely different world, and meeting so many wonderful and talented people has opened my mind even more.

I always wanted to work in a startup because I thought I would have more opportunities to grow and learn and I was lucky enough to get a job. While it’s a well-established startup, the workplace culture is huge. The need to collaborate with like-minded people who constantly motivate you to perform better is a significant motivator and promotes better synergies.

How do you feel about investing your money? If you have a certain amount of money set aside, do you want to invest it in the stock market, mutual funds or just keep it in your bank savings account?

Investing is the best way to make our money work for us and build wealth over time, thanks to compounding. To be on the safer side, I prefer to invest my money in various assets and build a portfolio. I spread my money across different categories, allocating most of it to less risky investments such as index funds, digital products and stable stocks. The rest of my funds are invested in risky stocks and cryptocurrencies.

Think you understand how to save and invest? If yes, how did you learn? If not, are you trying to learn?

I’m learning new things and strategies every day, so I don’t feel like I’ll ever understand, but I have a decent understanding of how to better manage my funds. Through YouTube videos and blog posts, I spent a lot of time during Covid19 learning about the stock market and handling money. This took me into a whole new world of finance that I had never known before, and there is literally so much to learn.

Do you follow influencers on social media and follow their investment advice?

Absolutely, yes. I see social media as a positive because it has given us the opportunity to access that knowledge and to learn so much from those who are really established in the field and are willing to share their experiences and learnings with us. Finding the right mentor is essential, however, as it’s just as easy to mislead your audience and give them bad advice. Therefore, I never blindly trust what they say or do, but it serves as a great compass.

Do you talk to your mom or dad about money and learn from them or follow their advice?

Yes, I used to talk to my dad about these new ways of managing finances when I first started learning about them. My father has always been my first teacher in life, but later it changed to a two-way exchange. He always seemed to share his knowledge and experience and I also explained to him new ways to invest his money because he can’t stop learning.


Understanding value investing

First publication: December 25, 2022, 09:29 IST

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