On January 27th ,2020 ,Mr. Dhrupad Hindocha enlightened the students in the topic of effective money handling at New Classroom complex, SVNIT. The talk focused on different ways of money making and investing via mutual funds, share markets etc.
It was organized to make students aware about how they can save or invest their money in an effective manner to fulfill their future financial goals. The talk started with the basic meaning of investment which is money multiplication in simple words.
Further Mr. Hindocha focused on the reasons of investing our money. He explained that improper money handling can lead to its degradation. The value of money may decrease with time, thus a proper money management is really important. Then he suggested investing in some mutual funds or share market and preferred practicing in some dummy applications for amateurs. He also showed that how improper money management can make value of any amount 6 times less with an inflation calculator. With this he made us realize the power of compounding.
Some light was also put on income tax and its filing. He also explained different slabs of money investment and have own people filling in the slab of 2.5 to 5 lacs can get a rebate of full settlement. He also suggested to go for different allowance provided by company instead of allowing money. Further different methods to save tax were discussed. How saving money in different funds (like PF) could lead to a reduction in salary of 1.5 lacs resulting into shifting of income tax slab. Students were also made aware of its 3 year money locking law. Other investments like medical insurance, educational loans, EV loans were also discussed.
Later on ways on money investing in share markets were discussed. The ways of direct trading mutual funds, Gold and other investment ways were discussed. He suggested to make investments in several IPO’s and top companies. He showed the students how can 2,40,000 can multiply to 6,87,000 in 20 years through his calculator.
Summing up, The talk mainly focused on different ways of money making, saving and investment. It was a really an enlightening talk given by Mr. Dhrupad Hindocha and the crowd is grateful to him for the same .