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Disclaimer: This video is created for educational purposes only. The opinions expressed by the guest are their personal views and do not reflect our stance. We have no intention to defame or harm any individual, brand, product, country, or profession mentioned in this video. Our aim is to provide information to help the audience make informed decisions.
In this Telugu podcast with Mr. Harish Reddy, co-Founder of Stable Money (a digital platform for investing in FDs), we discussed aspects of personal finance, societal expectations, and the ever-evolving relationship between money and happiness.
The conversation leads into a broader exploration of money's role in happiness. Can wealth really buy happiness, or does it just create a temporary illusion of it? We also discussed the societal pressures placed on men, especially in their late 20s, when financial success becomes a major marker of worth.
From here, we get into the practical side of personal finance. The common mistakes Indians make with savings and investments are dissected, with a close look at volatile SIP returns and the concept of “too much money.” This segment provides clarity on how credit scores work and how to improve them, as well as tips on managing credit cards and understanding the fine print, especially when it comes to EMIs and interest rates.
We also highlight the potential dangers of fast loans and rapid credit card usage, explaining how they can lead to financial instability if not managed properly. The conversation touches on the ways credit institutions extract money from consumers and why one should approach these financial tools with caution.
As we move further into the podcast, we discuss why financial literacy is so crucial, especially in India, where money matters are rarely discussed openly within families. The lack of financial education can lead to poor decision-making, as evidenced by the rise in unclaimed deposits in Indian banks.
The potential for India to transition to a cashless economy is also discussed, with a focus on the rise of UPI and digital financial inclusion. While the benefits of a cashless system are clear, we also acknowledge the challenges posed by black money and the lack of financial discipline in certain sections of society.
The podcast also touches on the dangers posed by influencers promoting gambling apps to young, impressionable audiences. With the rise of such deceptive advertising, we explore how these influencers contribute to risky financial behavior, especially among younger generations.
Whether you’re new to the world of finance or looking to refine your existing strategies, this episode provides valuable lessons on managing money, understanding economic forces, and making smarter financial decisions.
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What We Discussed
00:00 - Introduction
03:42 - Women, Children & Dogs get Unconditional Love
08:44 - About Loan Eligibility & CIBIL
16:37 - Uses of Credit card
19:47 - Why Banks pitch for EMI
22:11 - Fast Loan & Credit Card Effects?
24:38 - Money can't buy Happiness
27:52 - How does Bank work?
30:05 - How Bank Earns
32:29 - What is Repo Rate?
35:45 - What is Inflation?
38:24 - Yes Bank Issue
44:43 - Stable Money
45:35 - Categories of Bank
48:20 - Is Trading good or bad
52:11 - Why casino never loose money?
53:38 - Why 90% Retailers loose money
54:26 - Fooled by Randomness
56:42 - Risk & Returns
59:19 - Heritage Example
01:02:29 - Why did Bank Start?
01:04:18 - Can't RBI print notes
01:06:39 - Money Spent on Weddings
01:09:11 - Family Planning & Finances
01:13:38 - Lack of Financial Discipline
01:18:42 - Impulse Buying
01:21:38 - Parents discussing Finances with kids
01:24:24 - ₹73,000/- crores unclaimed deposits
01:25:22 - Will India Become Cashless Economy
01:30:08 - Influencers promoting Apps
01:33:08 - Masterclass on Wealth creation
01:34:31 - Rule of 72
01:37:11 - When to start Investing
01:37:59 - How to build a Portfolio
01:51:42 - Why FDs
01:58:16 - Calculating Interest on FDs
01:59:50 - Importance of Gold Investments
02:04:41 - Renting Vs Buying
02:07:18 - Journey of Mr.Harish Reddy
02:21:44 - How much money is too much money
02:22:54 - Advice for 22 year old
02:26:26 - Learnings & Takeaways
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