Meet Preetha Wali for the ultimate financial independence.
Preetha Wali is a Financial Educator and Co-founder of financial services startup Pay It Forward. She believes financial literacy is an essential life-skill, and her startup conducts financial awareness programmes in open forums, institutions, and corporates.
She is an English language and literature graduate from Ethiraj College For Women and a journalism and mass communication graduate from Madras Christian College. Preetha has won the HerRising award by JobsForHer in the Learning and Development category.
Preetha writes about personal finance, money management, and financial independence. She says, “Make a plan based on a structured versus the present haphazard approach, based on one’s goals and not tips and tricks. It has to be all-encompassing, instead of the present piecemeal approach, and more importantly, based on understanding rather than some hearsay and misinformation.”
She adds that to plan successfully, one should divide their financial goals and should always have an emergency fund and the right kind of insurance. She advises her readers to put down their goals, divide them into short, medium, and long-term goals.
Further, they should work out the future cost keeping inflation in mind, and do the appropriate asset allocation to meet that particular goal. However, Preetha warns, “Not every asset is for every goal.” For instance, fixed deposits are fine for short-term goals, but they are definitely not meant for long-term wealth creation.
“While this may sound overwhelming or oversimplified at first... As you go along and make it a habit, you will be subconsciously doing the right thing to create your path to financial wellness and freedom. This is the shortest cut!” she adds.