Meetup 2: Pain Points in Financial Goals

We organised our second Meetup on 4th August,2018. The main agenda of Meetup was the money management and how can one save from their earnings to have overall financial development. The session was Moderated by wealth coach ‘Harsha Garg’ of Wealth Gym.

We started session with money management. There are 4 major aspects of money. That is earning, savings, investing and spending.These 4 aspects covers all major aspects of money.

Let’s assume a person starts earning after graduating from college.As soon as she started working and earning, her major earnings will go on housing, clothing, food and travelling. Then rest may be to her family, savings, hobbies, education and investing .

Then a question was asked that “I could not able to save much from earnings and I spend most of the earnings. How I can save more ?”. After a long discussion with other fellows,everyone talks about a similar problem in general as they don’t able to save and thus not able to invest.

After a discussion on this, our moderator gave us an activity to classify your spends into 4 different quadrants.

This activity helps everyone on deciding what spend and what not to spend, and thus helps each everyone of us increase their spendings

Then A question arises ‘What percentage of earnings one should save?’ we debated a lot on this and found it his/her personal choice how much one should save.But one should follow cash flow in proper fashion:

Earnings-> Save-> Invest –> Spend