Gen Z and Finance: Money gives you the motivation to strive for better, says finance consultant Nishtha Rawtani

From the perspective of personal finance, investment is crucial since it may guarantee your financial stability both now and in the future. You have the option to increase your wealth more quickly than the rate of inflation. Additionally, investing might increase your retirement financial stability or open the door for you to retire earlier than you first anticipated. However, there is still a long way to go before everyone is reassured of the advantages of investing.

In order to comprehend what money means to today's youth in a growing world, this series explores students and young working professionals and their perspectives on money and finance. Nishtha Rawtani of Jaipur, Rajasthan tells MintGenie in an interview about she believes money is a very powerful thing that can change your whole life. She is working as a corporate finance consultant with a leading consultant and advisory organization. She finds solace in music and enjoys playing badminton in her own time.

Edited Excerpts:

What does money mean to you? Is it the most important factor when it comes to your life decisions like what to study, career and so forth?

I believe money is a very powerful thing, you can change your whole life with money in your hand. It gives you the motivation to hustle for your goals and strive for better. If I talk about myself then I would say I am lucky enough to be born into such a family that I don’t have to consider money as a primary factor while deciding my future choices.

What do you spend your money on every month at the moment? Can you give a breakup in percentage terms?

I don't have a lot of expenditures because I live with my parents and have a work-from-home job, which means that my expenses for housing and transportation are saved. So, I would say a majority of my salary goes untouched while some goes into day-to-day expenses and the remaining is invested.

What are the things you want to spend money on?

I don’t have anything specific planned in my mind about the things I would love to spend my money on. However, my primary goal in life is to be successful enough so that I am able to spend without thinking.

Do you save money? If yes, how frequently and what do you do with this money?

I believe that saving money is very essential for everyone irrespective of age. As I said above, the majority of my salary is saved, and till now I haven’t spent it as such.

What does having a job mean to you? What are the top two factors you will want to think about when deciding a company to work for?

For me having a job means having something to look forward to everyday. So now, when I have off on weekends, I feel empty because I am not working. I think the top two things would be remuneration (obviously) and If I would be able to grow with the role I am being offered.

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

I don’t have any particular opinions on investing. I have started it recently so I am still trying to make my way through it. As of now, I have been investing in the stock market, my brother guides me with it so that’s an advantage.

Do you think you have an understanding on how to save and invest? If yes, how did you learn? If not, are you trying to learn?

I do have an understanding but still haven’t been able to master the art of saving and investing. As I mentioned I have started investing recently so trying to learn something new with each passing day.

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

Who doesn’t follow influencers these days? Social media is literally revolving around these influencers and their creativity. But I think advice regarding investing should be taken from someone you can trust and not some random influencer.

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

Before making any money-related decision I always talk to my parents about it. They guide me if it is the right type of expense/ investment or not. They have much more experience than us in terms of money-related matters so their advice would never be wrong.