Money Management and Financial Planning

Welcome to Money Management and Financial Planning, where essential money managing skills pave the way to financial freedom. In this series, we’ll immerse in the fundamentals of budgeting, saving, and making wise financial decisions across various life stages and scenarios.

We’ll cover practical financial insights tailored to everyday needs from mastering the art of budgeting and saving to purchasing your first car or home. We’ll explore effective strategies for family budgeting, funding education, and planning for major events like weddings. We’ll also break down the Union Budget, highlighting tax reforms, employment schemes, and their impact on your finances.

Additionally, you’ll gain valuable knowledge on navigating career changes, preparing for economic downturns, and building robust financial safety nets. Whether it’s understanding personal finance principles or decoding complex budgeting methods, this series might offer the tools to elevate your financial management skills.

3 Seasons

Season

Foundation of Financial Literacy

Welcome to Foundation of Financial Literacy, where practical knowledge meets real-life application. In this season, we’ll delve into the core principles of personal finance that might empower you to make informed money decisions. We’ll begin with the fundamentals of budgeting and saving, exploring how to master your monthly finances. You’ll gain insights into buying your first car and navigating the complexities of homeownership. Life’s milestones like planning a wedding or funding a college education will also be covered, providing you with actionable steps to stay financially prepared. Additionally, we’ll tackle important topics such as managing family expenses, adapting your finances during career transitions, and safeguarding your wealth during economic downturns. With this season as your financial compass, you might be better equipped to lay the groundwork for financial well-being and turn your goals into reality.

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E01: Money Mastery The Art of Budgeting and Saving

05 mins

Managing your finances is a crucial skill, especially in a diverse and dynamic country like India. In this video, we’ll cover the essentials of budgeting and saving to help you take control of your financial future. You might learn how to track income and expenses, create a practical budget, and allocate funds toward essential expenses, savings, and discretionary spending. We’ll also introduce saving strategies, like setting specific goals and automating savings, that might help build a strong financial foundation. Additionally, we’ll explore investment options such as mutual funds, fixed deposits, and PPF, that could guide you to grow your money over time. Understanding tax planning could also be essential. We’ll discuss how to optimise tax benefits through instruments like ELSS and NPS. Managing debt and setting SMART financial goals are other crucial elements we’ll explore, that could help you achieve long-term objectives. Financial discipline and awareness of cultural and socio-economic factors could empower you to make informed decisions. By mastering budgeting and saving, you might be able to pave the way to financial freedom and security.

E02: Buying Your First Car What Should You Know

03 mins

Buying your first car can be both exciting and overwhelming. However, careful planning could significantly ease the process. You could start by thoroughly researching and budgeting for your purchase. Allocate approximately 10-15% of your monthly income towards the car loan EMI, while also accounting for additional expenses such as fuel, maintenance, and insurance. Selecting the right car is crucial; assess your needs by researching various models and reading reviews. Explore financing options such as car loans from banks or non-banking financial companies (NBFCs), which could cover up to 80-90% of the car’s on-road price. If opting for a used car, consider used car loans that might have slightly different terms. When choosing a dealer, visit multiple dealerships to compare prices, negotiate effectively, and request a detailed cost breakdown to avoid hidden charges. Ensure that you have all the necessary documentation ready and opt for comprehensive insurance for enhanced protection. After registering your vehicle with the Regional Transport Office (RTO) and finalising the purchase, conduct a thorough inspection of the car. Maintain the vehicle with regular servicing, familiarise yourself with driving regulations, and keep in mind the car’s resale value and depreciation.

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Bites

Surviving a Recession What Financial Moves Should You Make 193 views

How to Manage Finances Amidst Career Changes 134 views

How to Plan Finances for College 637 views

How to Plan Your Finances for a Wedding 349 views

Your Rupee Roadmap Understanding Personal Finance Management 153 views

Expense Expedition Charting Your Financial Course 81 views

Season

Advanced Financial Strategies

Welcome to Advanced Financial Strategies, where we decode complex financial concepts and unveil tools that could help you take control of your money. In this season, we’ll look into advanced budgeting frameworks and techniques that might help you optimise your financial health for long-term success. We’ll explore diverse money management methods like the 30:40:30 rule, 50:30:20 rule and other budgeting formulas designed to balance savings, spending, and investments. Our videos will also unpack practical strategies for managing everyday expenses, such as dining choices and creating tailored emergency funds for medical needs or unexpected repairs. Additionally, this season highlights estate planning and how understanding your psychological approach to money might influence your financial decisions. Whether you’re aiming to strike a financial balance or preparing for unexpected challenges, Advanced Financial Strategies could assist you in making impactful financial decisions.

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E01: Mastering Financial Alchemy Advanced Budgeting Strategies

03 mins

Budgeting is an ancient art of financial alchemy that could transform income into a powerful tool for achieving financial goals. In this video, we’ll explore advanced budgeting techniques that could help turn your financial challenges into opportunities. We’ll start with zero-based budgeting, where every rupee is allocated with purpose, and go all the way to the Envelope System, a simple yet effective method for managing expenses. These techniques might help you learn how to take full control of your finances. We’ll also dive into the classic 50:30:20 Rule, offering a balanced approach to spending, saving, and enjoying life. Additionally, we’ll cover a few modern strategies. Be it automated savings and investments, which might help you save effortlessly, or expense tracking apps for real-time monitoring of your spending. We’ll also look into annual budget planning that could provide a broader perspective and help you prepare for irregular expenses throughout the year. We’ll highlight the importance of emergency fund planning and explain the debt snowball and avalanche methods. This could help you safeguard against financial surprises and tackle debt. By mastering these techniques, you could unlock the secrets of financial success and pave the way for a secure future.

E02: From Wallet to Palate Decoding Eating Expenses

03 mins

India's rich culinary landscape offers diverse dining experiences, each with its own costs and benefits. Understanding these options could help you make better financial and lifestyle choices. In this video, we’ll break down the expenses associated with eating out, ordering in, and cooking at home. Eating out could range from affordable fast-food options to expensive fine dining. Quick meals might cost around Rs. 200-300 per person, while fine dining could exceed Rs. 5,000 for two. We’ll also explore the growing trend of food delivery, where hidden costs like delivery charges, service fees, and taxes might inflate the bill. It could turn a Rs. 800 meal into a Rs. 1,000 one or more. Cooking at home could offer a cost-effective and healthier alternative. We’ll discuss grocery costs, utility expenses, and the overall savings of home-cooked meals. While it requires effort, cooking could foster healthier habits and allow for culinary creativity. By evaluating these choices, you could decide which dining option aligns best with your budget and preferences, balancing convenience and cost. This might help you uncover the true cost of your meals and optimise your dining choices!

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Bites

Surviving the Storm Building Your Shield Against Unforeseen Job Loss 258 views

Rainy Day Fund for Fixes and Trips 154 views

First Aid for Finances Creating Your Medical Emergency Fund 396 views

From Debt to Prosperity the 70 20 10 Rule 121 views

Savings Spending and Success Decoding the 30 30 30 10 Method 95 views

Crack the Code of Financial Balance The 40 30 20 10 Formula 74 views

Budgeting Like a Pro The 50 30 20 Rule Made Simple 59 views

Striking the Perfect Balance Unlocking Power of 30 40 30 Rule 111 views

How Your Brain Influences Spending and Saving 703 views

Season

Understanding the Union Budget 2024

Welcome to Understanding the Union Budget 2024! Join us as we break down the key highlights and impacts of this year’s budget in an easy-to-understand manner. These videos could provide insights into how the budget affects individuals, businesses, and various sectors across India. We start with a concise summary of the budget in under five minutes, giving you a quick overview of the major announcements. Dive deeper as we decode the budget’s impact on taxpayers, employment schemes, and financial opportunities. Our videos also focus on start-ups and MSMEs, outlining the policies and incentives tailored for their growth. The videos also explore key tax reforms, including changes in tax regimes and the scrapping of indexation benefits. After that, we’ll discuss the allocations announced for education, skill development, and tourism, showcasing the government’s focus on widespread growth. With these videos, you could gain a clear understanding of the Union Budget 2024 and how it can shape India’s economic future.

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E01: Summarising the Union Budget 2024 in 5 Minutes

04 mins

Excited about the changes announced in the Union Budget 2024? Check out this video for a quick summary of the major points announced by the finance minister. First, we’ll talk about the 9 key focus areas under 'Viksit Bharat' announced in the budget. Next, you’ll understand the changes mentioned for the New Tax Regime. The standard deduction is proposed to increase to ₹75,000, and the tax slabs have been revised. We’ll see how income up to ₹3 Lakhs is tax-free, while income above ₹15 Lakhs attracts a 30% tax rate. You’ll also learn how pensioners might benefit from a family pension deduction increase from ₹15,000 to ₹25,000. The video further explores capital gains tax. Long-term capital gains are set at a 12.5% tax rate, with an exemption limit of ₹1.25 Lakhs per year. Next, the video will discuss revisions to customs duties and proposed TDS and TCS changes. The latter includes a reduced 0.1% TDS rate on e-commerce transactions. The budget also mentioned additional investments under PM Awas Yojana and PM Surya Ghar Muft Bijli Yojana. Finally, we’ll explore new schemes worth ₹2 Lakh Crores for youth employment and upskilling. Similarly, larger Mudra loans and enhanced support were announced for MSMEs.

E02: Decoding the Impact of the Union Budget for You

05 mins

The Union Budget 2024 introduces significant changes to India's tax structure, impacting salaried individuals and investors alike. For salaried employees, the new tax regime offers an increased standard deduction of ₹75,000 and revised tax slabs, potentially reducing tax liability. Consider the example of an IT professional Sunil, who earns ₹10 Lakhs annually. As per the changes announced in the budget, if he files his taxes in the new regime, he can now save up to ₹10,000 in taxes. The budget also modifies capital gains taxation on listed investments. Short-term capital gains (STCG) tax has been increased from 15% to 20%. For long-term capital gains (LTCG), the tax rate has been raised to 12.5%, but with an increased exemption limit of ₹1.25 Lakhs. So, if Sunil chooses to sell off his investments after earning a profit of ₹10,500 in 9 months, he will have to pay 20% tax or ₹2,100. Alternatively, suppose he holds on to his shares for 2 years and earns around ₹23,000. Now, he will have to pay LTCG tax. But since his returns are less than ₹1 Lakh, he is tax-exempt. The budget brings a notable shift in property taxation by eliminating indexation benefits for LTCG on property sales. Despite reducing the LTCG tax rate to 12.5% for property, the removal of indexation could result in higher taxable gains. These alterations could lead to increased tax liability on property sales, notwithstanding the lower tax rate. These changes collectively reshape the landscape of personal finance and investment strategies in India.

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Bites

Indexation Benefit Scrapped What Does it Mean for You 153 views

Indian Tourism and the Union Budget 2024 185 views

Education and Skill Development in Union Budget 2024 119 views

Union Budget 2024 Tax Reforms and Changes 263 views

8 Highlights of the Union Budget 2024 521 views

7 Highlights of the Union Budget You Might Have Missed 151 views

Seasons

All

You could start by setting clear financial goals. You might have to create a budget that fits your lifestyle and track income and expenses. Adopting disciplined spending habits and reviewing your financial progress could help you stay aligned with your objectives.

You could focus on paying off high-interest debts first, like credit cards. You could consider debt consolidation or negotiating with lenders to reduce interest rates. Sticking to a repayment plan could help manage debt more efficiently and reduce financial stress over time.

An emergency fund could serve as a financial cushion, helping you handle unexpected costs such as medical emergencies or job loss. It could provide financial stability during challenging times. This could minimise reliance on high-interest loans and offer reassurance when faced with unforeseen events.

You could consider mutual funds, Public Provident Fund (PPF), or National Pension Scheme (NPS) for steady returns and tax benefits. Aligning investments with your risk tolerance and diversifying your portfolio could help balance growth and security over time.

You could boost investments through tax-saving schemes, diversify with equities and SIPs, and explore real estate. Consistent contributions and smart portfolio management might help build wealth and ensure financial independence for early retirement.

Bajaj Finserv Direct Limited ("Bajaj Markets") offers to its customers, various financial products and services through its digital platform as a registered Corporate Agent with IRDAI, registered Investment Adviser with SEBI, registered Third-Party App Provider (UPI payments), and as DSA or Digital lending platform of its Partners. Further, Bajaj Markets also offers a marketplace e-commerce platform to facilitate transactions between customers and sellers on-boarded on the platform. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522 Corporate Agency (Composite) Registration no.CA0551 (valid till 10-Apr-2027) Investment Adviser, SEBI registration: INA000016083 (Validity - Aug 11, 2021 - Perpetual)