Shekhar Golchha
Executive Director, HH Bajaj
When I was 20, I wasn’t working yet. So around that age I hardly ever had a lot of money. I was dependant on the pocket money my parents gave me, and they weren’t exactly generous with it. I remember that I only had two jeans and four shirts at the time. So forget about budgets for any leisure activities. In hindsight, I think it’s apparent that it was my parent’s plan to teach me the value of money. It must have worked because when I began working at around 22, I never really had trouble budgeting. By then I had understood the importance of being responsible where money was concerned. Another valuable lesson perhaps was also to be happy with whatever I had at the moment and to make the most of it.
Now being a parent myself, I’m very aware of the role I play to teach my child his responsibility towards his own finances. Though I want to try a different tactic. Rather than denying him monetary support, I like to give him access to money. This actually can be more challenging, but in process I hope to teach him how to exercise restraint as well as prioritize.
Raveena Desraj Shrestha
Chief Consumer Banking and Corporate Affairs
Mega Bank Nepal Ltd.
I may be a banker, but I have always been very spiritual. I believe the notes we carry around aren’t only pieces of paper but it’s also energy. Thus earning and spending is an exchange of energy and it’s in abundance all around us. I realize it’s a rather unconventional perspective, but I have found this approach to be beneficial.
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Most people have been conditioned to believe that it’s very difficult to make a good living but I don’t agree with that. Exchange of energy occurs everywhere, thus there are plenty of opportunities to capitalize on. We just have to be willing to take a step and make the most of it. Our only limitation is our own mindset. I lived by this philosophy even when I was young. I was always a voracious reader and I paid attention to the experiences my parents shared with me. Even when money was tight during my 20s, my college days, this helped me maintain my outlook.
If anything my belief has only strengthened. One obviously has to be prudent about how and where they spend, but having said that you can’t hold yourself back. You have to have the confidence to invest in this energy. There is a reason why people who have money make more money. Once you inhale, you also have to exhale.
Amun Thapa
Founder/CEO, Sasto Deal
You hear the phrase ‘money doesn’t grow on trees’ all the time, but I wish I had realized the fact by the time I had turned 20 because up until then, I was very careless with money. I was provided for so I really didn’t care where the money came from or how I wasted it.
But then I went to study abroad and you obviously don’t have much choice but to take up responsibilities once you are far from home. I had to pay for my tuition, books, car, and rent among other expenses. Since I was only working a part time job, the budget was incredibly tight. I still remember the feeling I used to get when my bills would arrive in the mailbox every month. Having to worry about your finances early on certainly helps build your character. Also these lessons apply in business as well. You learn to be savvy and operate within budget. Sasto Deal for example began in a garage. Likewise, we apply similar philosophies while investing in startups too.
Further I wish I also knew about investment when I was 20. I wish I had already realized that saving money in the bank alone doesn’t do much good. In fact, what a waste it is if you wish it to multiply and grow. It’s important to find good investments as well.
Sumit Kedia
President, Nepal Dairy Association
I guess I was like any other youth when it came to views about money. I hadn’t realized its real value out in the world or for my future. At 20, I was living in a hostel and my family used to support me financially. Money wasn’t difficult to obtain at the time so it wasn’t my biggest concern. I was more engrossed in my studies and friends.
But I do wish I had out grown my naiveté a little sooner because the moment you start working you get a harsh wake up call. When you start earning, each and every penny becomes important. It was then that I had begun contemplating how difficult it was to make ends meet. Soon enough I was also learning the ropes of corporate houses and tricks of the trade, so in a way you also realize the fun that lies in the challenge of managing your finances.
Still I think this change in attitude naturally comes to a person as he or she ages and gains more experiences. You can tell a youngster the value of money but you can’t make him/her realize the fact. Further, money is important but a balance within your personal life is just as crucial to be happy.
