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Bille Sai Dinesh - Week 2 Assignment
Bille Sai Dinesh - Week 2 Assignment
Bille Sai Dinesh - Week 2 Assignment
1) Do you value being financially healthy and are you taking any steps to become
financially healthy?
Based on my findings by talking with friends, relatives, colleagues, most of them value
being financially healthy. I can say it has two parts.
When I talked with people in rural and semi urban people most of them respondent
that they are taking steps by investing surplus money in fixed deposits, buying assets
like gold and house and planning to get rental income. Some of them lending money
for some fixed rate of interest.
Most of them are not aware of any kinds of investment avenues apart from the
investment avenues mentioned above. Even the educated people in those areas are not
aware of other investment avenues. So, there is no proper financial education in those
kinds of areas.
In case of Urban and metropolitan cities, I can see the value for being healthy is more
as some of them are well versed with various kinds of investment avenues and has some
knowledge on financial planning. Most of this section people also don’t know all
investment options but most of the things they were aware because of increase usage
of internet facilities and education etc. Most of them investing FDs, Mutual funds,
Shares, Real estate and other businesses. All are taking steps and choosing the
investment options to achieve short term, medium term and long-term goals.
Based on my discussions 60-70% were relying on FDs and Fixed income options.
Need of awareness of financial products and investment options in INDIA.
Behavioral change has to bring among the people. Most of the people thinking
investing in stocks or mutual funds is like gambling.
Personal Finance apps available in India are for the following purposes:
• Tax Calculation
• Stock investment Trackers
• Managing Income and Expenses
• Splitting Bills
• Digital Locker for important documents
• Credit Score
One needs to choose as per requirements.
It should cover money management, budget and debt related queries, tracking expenses,
Savings, investment, real time finance news, EMI calculators, Security most important, freely
available than paid service.
A single comprehensive app is awaited