#MoneyViewChat A Recap of Our First Twitter Chat on Financial Dreams
Dreams, the very word makes us feel euphoric. After all, who does not have dreams? So we decided to kickstart our weekly twitter chat @MyMoneyView with this topic to see what our community thought of it. Let me say that the answers were revealing about what we all crave.
Here are the questions
Starting off with our first question.
Q1: What is your Financial Dream? #MoneyViewChat pic.twitter.com/5boGQNQHvrβ MoneyView (@MyMoneyView) September 29, 2016
Here were some answers
@MyMoneyView A1 – to have a buffer of extra incomes 4 leisure activities. Salary se toh zaruratein hi poori hoti hain π #MoneyViewChat
β Simardeep Singh (@simardeep88) September 29, 2016
A1 – my financial dream is to buy a villa! @MyMoneyView #MoneyViewChat #FinancialDreams
β Nakul.M.Dev (@nakulmdev) September 29, 2016
@MyMoneyView Travel the world in the near future! #MoneyViewChat
β Gokul Shanth (@gokul_shanth) September 29, 2016
@MyMoneyView #MoneyViewChat
Start Saving for Retirement Nowβ GANESH / ΰ΄ΰ΄£ΰ΅ΰ΄·ΰ΅ (@godsowntalk) September 29, 2016
@MyMoneyView A1. My financial dream is to live a life where I can do anything I want, anytime, without worrying about money #MoneyViewChat
β Vishal Kataria (@Vishipedia) September 29, 2016
From the conversations, most of us have dreams of being financially secure to do what our heart desires. So almost all of us wish to have enough money so that we don’t have to work for money, we can travel, own villas and pretty much indulge in what our heart desires.
The next question was:
Moving on to our next question.
Q2: How are you planning to fulfil your financial dream? #MoneyViewChat pic.twitter.com/PjT45ZNgom— MoneyView (@MyMoneyView) September 29, 2016
@MyMoneyView Mutual Funds FTW! With some specific stock picks! Also, removing ULIPs from my portfolio & checking my spend. #MoneyViewChat
β Varun (@_varunparikh) September 29, 2016
A2 Still trying to figure it out. Do planned investment to make money earn more money. #MoneyViewChat https://t.co/OHKnw958aG
β Rachna says (@rachnaparmar) September 29, 2016
@MyMoneyView A2. Make money grow magically by investing smartly and at the right time? #MoneyViewChat
β Mithila Menezes (@fabulus1710) September 29, 2016
@MyMoneyView #MoneyViewChat a2) smart investment in shares, insurance plans etc
β naushi shaikh (@Naushishaikh) September 29, 2016
@MyMoneyView By investing my money smartly and not splurging! #MoneyViewChat
β Minna pauly (@Minnz89) September 29, 2016
By having a personalised financial plan and executing it with discipline #Moneyviewchat @MyMoneyView
β Manoj Dronadula (@manojdronadula) September 29, 2016
It is interesting to note that most of our community places emphasis on investing money prudently. After all, investment helps you earn more money from what you already have. Disciplined spending, saving and investment are the steps in that direction.
Moving to our next question.
Q3: In how many years are you planning to fulfil your financial dream #MoneyViewChat pic.twitter.com/Z0qW3kg7Y5— MoneyView (@MyMoneyView) September 29, 2016
A3 About 10 years. #MoneyViewChat https://t.co/s9inOc7gnE
β Rachna says (@rachnaparmar) September 29, 2016
@MyMoneyView a3 – each financial dream should tied with a timeline. There are short term goals and long term goals. #MoneyViewChat
β Simardeep Singh (@simardeep88) September 29, 2016
@MyMoneyView A3. Before I die is a more realistic answer. Idealistically, before I hit 40. #MoneyViewChat
β Mithila Menezes (@fabulus1710) September 29, 2016
A3. It’s a lifelong process. Cost of Living, of healthcare keep increasing. So, Keep saving, keep living in my view.#MoneyViewChat https://t.co/1eWR1nYFpA
β Nabanita Dhar (@nabanita21) September 29, 2016
@MyMoneyView It’s a process but should be 10-12 years :/ π
β Varun (@_varunparikh) September 29, 2016
This answer varied from a specific time frame to individual time frames for different goals.
Moving on to our next question.
Q4: Do you use any financial apps or products to help you with financial planning? #MoneyViewChat pic.twitter.com/Tx4gdM3Cgv— MoneyView (@MyMoneyView) September 29, 2016
@MyMoneyView No, I am old school. I maintain accounts on excel. But I recommend #MoneyViewApp to all my friends back home. #MoneyViewChat
β Saru (@BaawriBasanti) September 29, 2016
@MyMoneyView A4 I used sms reading apps while on android. having shifted to iOS I haven’t found the right apps yet. Maybe #MoneyViewApp?
β Richa (@MumbaiMuggle) September 29, 2016
@MyMoneyView
A4) No, but I am taking advice of my CA friend and also collect information from Internet and social media #MoneyViewChatβ Hetal Vin (@VHetal) September 29, 2016
@MyMoneyView #MoneyViewChat
A4)
Yes I use money view Appβ Kabra Mala:)? (@maladarak) September 29, 2016
@MyMoneyView : A4 using Moneyview app it helps me to track on wht I spent through-out month, it rly helps me in nxt month financial planning
β Richa Ranjan (@richaranjan23) September 29, 2016
It is heartening to note that Money View App scores high when it comes to keeping track of finances. Moneycontrol.com, advice from finance professionals and seeking information from the internet are also useful tools that our community relies on.
Moving on to our last question.
Q5: What tips would you suggest to someone who's trying to save? #MoneyViewChat pic.twitter.com/Xlu7hq2DiG— MoneyView (@MyMoneyView) September 29, 2016
@MyMoneyView I would suggest stocks for people who have an appetite for risk and Mutual funds for the rest, tax saving schemes like (1/2)
β Gokul Shanth (@gokul_shanth) September 29, 2016
@MyMoneyView A5 Start small, saving is a habit you cultivate. #MoneyViewChat
β Saru (@BaawriBasanti) September 29, 2016
@MyMoneyView #MoneyViewChat
Learn Self Control and Know Where Your Money Goesβ GANESH / ΰ΄ΰ΄£ΰ΅ΰ΄·ΰ΅ (@godsowntalk) September 29, 2016
A5. Save a part of your income monthly.
Live within your means.
Don't borrow or lend.
Track spends.#MoneyViewChat https://t.co/tC34gEoSTz— Nabanita Dhar (@nabanita21) September 29, 2016
A5 Make sure you save consistently even if it is a small amount #MoneyViewChat https://t.co/0hSfrefoJM
— Soumitra Sengupta (@soumitrasen) September 29, 2016
Saving seems to be the most favoured advice followed by investment.
With this we rounded off a very interesting and lively session. You can see the entire chat here:
#MoneyViewChat Tweets
Do join us every Thursday between 7-8 pm IST for another interesting session of #MoneyViewChat with @MyMoneyView handle on twitter. See you there.
Nice! This was fun! Can’t wait to join in again π
Thanks, Vishal. We look forward to your participation.