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Infrequently we conduct pop quizzes with select enthusiasts to demystify certain financial aspects. It is typically by asking a single question and the response is captured through a survey. We call it as Pop Quiz! This is fun, exciting and insightful as it gives different perspectives and importantly help us to learn some patterns around the topic.
Sharing below the previous Pop Quizzes and the survey responses:
Pop Quiz 1
Pop Quiz 1
Suri's dilemma!
Suri working in a company as a Sales Executive and he earns a monthly salary of Rs. 45,000 including incentives. He is very efficient and the employer is very satisfied with him.
He is married and has one child of 5 years. He doesn't have any assets as his income is sufficient to maintain his family. However, he saves around Rs. 10,000 every month for the future of their child.
Suri got an offer to join a business as working partner wherein his salary will be Rs. 25,000 with a potential of earning over Rs. 1 lakh a month in 2 - 3 years.
Pop Quiz 2
Pop Quiz 2
A quiz on Women and their financial independence!
Pop Quiz 3
Pop Quiz 3
A quiz on investing in financial markets
Pop Quiz 4
Pop Quiz 4
A quiz on usage of Credit card for payments
Pop Quiz 5
Pop Quiz 5
A quiz on practices followed in financial position review
Pop Quiz 6
Pop Quiz 6
A quiz on Short-term trading in Equity market during the volatile market condition
Pop Quiz 7
Pop Quiz 7
A quiz on Estate Planning
Pop Quiz 8
Pop Quiz 8
A quiz on New Investment! - Summary as on 11th April 2021
What does this mean?
It is good that more than 2/3rd of us have started exploring investing in new Financial Product during the pandemic
One-fourth of people haven't started exploring new avenues which could be explored as it helps to learn and grow in new avenues
This trend of high population of us exploring new instruments is an indication that there is uncertainty in our current financial planning and the return that we are used to
Some of the possible suspects of new avenues are Equity Market, Mutual Funds, Commodities Trading, Futures & Options and so on. This is the possible reason why the market is bullish in India at the moment. While this is true, the chances of getting this wrong can't be ruled out. We need to be cautious about the diversification and exploring new areas.
Do ensure there is sufficient due diligence done before signing up for new products. Avoid taking tips on your financial decisions from others who may be good but may not understand your situation well. It is only you who knows what is required for you and what is the level of risk that you can take.
Be prepared for the worst and exercise caution in making sure you know what you are getting into
Cash is king - do not put your stakes that could potentially affect your liquidity
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