Young investors have the freedom and flexibility to explore investing and learn from their achievements and shortcomings. Because investing has a somewhat long learning curve, young folks have an edge since they have years to learn about the markets and fine-tune their investing strategy. Being comparatively more digitally literate, this younger generation can learn, explore, and use online investment tools and approaches to enhance their knowledge base, experience and skills to step into the investing world.
In this series, we aim to collect the views of students and young working professionals on investing and finance. Manav Meena of Delhi School of Economics tells MintGenie in an interview about how mutual funds provide a very low entry point for students like him to start off their investing journey.
A native of Jaipur, Rajasthan, Manav is currently pursuing a Master's degree in Sociology from Delhi School of Economics. He is a big music and esports enthusiast whose pop culture interests revolve around interacting with live streamers on platforms like twitch in addition to watching sit-coms and crime thrillers.
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?
For me, money defines a significant portion of my material choices in life. Whenever I see something I like, my first question to myself is, “Can I afford it?” More importantly, I do not earn at the moment, so I think of the money I have as someone else’s money. This may appear insensitive, but it helps me be more sane in my decision-making. As for money defining my career choices, it plays a role but not significant. Having fun in whatever career I pursue still edges out the idea of just earning a lot of money.
What do you spend your money on every month at the moment? Can you give a breakup in percentage terms?
I’m currently a student at Delhi School of Economics. Since most of my necessities like food, laundry and internet are covered by the PG in which I reside, my daily expenses are limited. Most of it is spent on trying out food places nearby (bout 50%) while about 20-25% is spent on conveyance and the rest are miscellaneous expenses.
What are the things you want to spend money on?
I would like to spend more on weekend trips, sight-seeing or in general, some sort of experiences and create memories rather than material stuff. As of now, that is pretty much limited to exploring food places but this is something I would like to explore more.
Do you save money? If yes, how frequently and what do you do with this money?
I do aim to save a fixed portion of my allowance as my own savings every month, however that line is pretty flexible since some months you spend more, some you spend less. But yes, however much I can spare, I regularly invest in a mutual fund and keep some money aside in my bank account.
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 for me is place where I get to express my potential, interact with new people, and get the necessary resources/tools to improve myself every day. Two most important things for me in a work environment are flexibility of work hours and being in an environment with like-minded people. Because I feel having to devote set hours to your work brings with it a risk of developing a monotonous routine with very little leisure time.
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 invest my savings in a mutual fund on a monthly basis. I feel investing from a young age is key for a secure future and mutual funds provide a very low entry point for students like me to start off.
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 have a basic understanding of how to invest money and where to do so with minimal risk. I am by no means acquainted with the tricks of stock market or playing with numbers, but I try to learn about investing as much as I can from informational youtube videos or catching up on finance related news. Definitely something I want to learn more.
Do you follow social media influencers and follow their investment advice?
No, I did watch a couple of reliable people like Rachana Ranade while starting off but I don’t follow any influencers for investment advice on a regular basis.
Do you talk to your mother or your father about money and learn from them or follow their advice?
I have had conversations with my parents regarding investing my money, particularly because at this stage of my life, it is their money I am investing. They are largely supportive of my investment practices, as long as it is in small amounts and in parts, and see it as a part of my learning process of handling money.
