Investing money great advantage, but how and where you invest matters, says student Anubhuti Sharma

Updated: 21 May 2023, 11:36 AM IST

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.

Anubhuti Sharma, a fourth-year BA.LLB student at Vivekananda Institute of Professional Studies

The importance of investing and saving money has gained significant attention among the younger generation in recent years. With the rise of financial literacy initiatives and increased access to investment platforms, more young people are recognizing the importance of building wealth and securing their financial future.

In an interview with MintGenie, Anubhuti Sharma, a fourth-year BA.LLB student at Vivekananda Institute of Professional Studies, shares her approach to saving money. She explains that whenever she needs to make decisions about saving money, she always prefers to follow the advice given by her parents and it has given fruitful returns every time. She has an interest and inclination towards Cyber Law, Intellectual Property Rights, and Health Law, and she aspires to excel in that field.

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?

Money is used as a means of exchange that is acknowledged by people for the expense of possessions and amenities. Money to me is not everything, but something which is very essential for an individual in his/her life to fulfill one’s needs and aspirations. Yes, it is a significant aspect when it comes to my career growth, lifestyle, and education.

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

Since I am a college student, 60% of my pocket money is spent on traveling, while the rest is either spent on food or books. All these expenses include traveling via public transport like the metro, autorickshaw, etc. Again, during internships or court visits, 70% of the money is spent on traveling.

What are the things you want to spend money on?

I usually prefer spending money on traveling abroad, clothes, different accessories, food, electronics, etc. Although, I try saving money and utilizing it on necessary goods, since my parents keep instructing me on how saving money at this age would help me in the distant future.

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

Yes, I do save money every month from the pocket money which I get. I usually don’t use the saved money and keep the same for the future.

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?

A job to me means a responsibility in which I would excel and showcase my caliber. The top two factors, which according to me are essential while deciding on a company to work for, would be, the reputation of the company and decent working conditions.

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?

According to me investing money is a great advantage, but it depends on how and where you are investing the money. When it comes to saving money, bank account savings is always a safe option and that would be the first preference for me. But, if a certain amount of money is set aside, I would like to invest it in mutual funds because I feel that it is more convenient, low cost, and has tax benefits as compared to other options of investment.

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 not have full-fledged knowledge on how to save and invest money. However, the partial knowledge that I have, has been collected by me from my parents, my grandfather, and the bank officials. Furthermore, I wish to learn more about the new methods of saving and investing money.

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

I do not follow any social media influencers for investment advice. I learn about investment and savings from my family or from various e-platforms…

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

Yes, I certainly talk to my parents about money and investment and how have they saved or invested their money. Whenever I have to decide on how to save money, I always prefer following their advice, which eventually turns out to be the finest guidance.

Financial Planning: How Indians save and invest money
First Published: 21 May 2023, 11:36 AM IST