Pops in a Pod Money and Parenting - Mrinal Ghosh
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Feb 21, 2023 
Mrinal Ghosh, a seasoned finance professional with over 20 years in multinational consulting, and a parent, shares invaluable financial planning tips for families. He discusses adapting budgets from singlehood to parenthood and the importance of financial education. Mrinal clarifies the difference between life insurance and investment schemes, while highlighting smart savings strategies for rising parenting costs. He also debunks investment myths, emphasizing systematic plans and the potential of property investment. A rich conversation full of practical advice for secure family finances!
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Focus on Personal Financial Basics
- Plan finances according to your income, expenditure, and future savings potential.
- Ignore changing budgets and focus on your personal financial basics for lasting impact.
Living at Home: Savings vs Opportunity
- Staying with parents reduces living expenses but missed investing opportunities can harm long-term wealth.
- Interest rates are declining; embracing investments beyond savings accounts is essential for growth.
Buy Term Insurance Early
- Choose term insurance purely for coverage without expecting returns.
- Buy life insurance equal to your liabilities immediately after starting work to protect dependents from debt.