Interviewee: Mrs. Nilima SawantNilima is a Sr. Design Engineer working for an MNC, in the field of Oil & Gas. A mother of 2, her hobbies include cooking, traveling, and learning new things. She stands as a perfect role model and encourages people surrounding her with her sweet words. She is a firm believer in women empowerment and an initiative taker in the welfare of the women organised by the CSR committee in her office.
Ria: Tell Me In Your Point Of View What Do You Mean By Personal Finance. Is It Applicable For All Ages?
Nilima: According to my perspective, personal finance is saving at least half of what you have earned, which ensures a feeling of confidence in the time of need or any sort of crisis such as medical or personal issues. And of course, it is applicable for all ages from an early age itself because this imparts an ability of the child to save money for the future.
Ria: What Is The Purpose Of Self-Banking And Is It Effective Why Do You Think So?
Nilima: The main purpose of self banking is that it secures one's future and encourages one to start saving. Certainly, it is effective as it helps in setting goals and accomplishing them, like buying a house, studying abroad, etc.
Ria: Are There Any Advantages Or Any Disadvantages Related To This Approach?
Nilima: Personally I think that there is no disadvantage related to this, but back in those days when there was no net banking. So, people had to personally visit the banks for any type of transaction. And a lot of trouble was faced and a complete wastage of time. Whereas nowadays there are credit cards, debit cards, and many ATM facilities which makes it convenient and easy for everyone.
Ria: What Is The Motive Of Personal Finance And Is It Okay To Fail In Achieving Your Goals. Have You Ever Failed To Achieve One?
Nilima: The motive is nothing but to be financially stable to face any type of hurdle in the future. And of course! It is completely okay to fail, as you have tried as well as give your best in achieving it. I myself have failed in achieving some of my goals, but the only thing that mattered to me was that I tried. Failure is the first step towards success.
Ria: Whoa! Are There Any Tips You Would Like To Share With Our Future Generation?
Nilima: Tips for personal finance are that each person should prepare a budget sheet and accordingly plan their expenses and savings.
Ria: And As A Mom Too, What Efforts Have You Made In Persuading Your Children To Save Money And Use It Wisely?
Nilima: Being a mom I have always tried to build a thought of saving in their young minds. By gifting them a piggy bank builds a habit of saving money and teaches the importance of it at a very tender age.
Ria: A Personal Question To You From My Side. Suppose If You Were To Be In A Mall And A Very Beautiful Dress Catches Your Attention And You Really Like It, But You Already Have Been Saving For A Car. So, My Question Is Would You Buy It Or Compromise On It?
Nilima: I will first check whether I can buy it in installments if that option is not available, I would rather not buy it.Ria: Thank You, dear Nilima, for giving us your precious time. I really appreciate your opinions regarding your perspective toward personal finance.
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