Category Archives: Blog

Woman’s Guide to Financial Freedom

It’s a universal truth that women lack confidence when it comes to investing in the market.
Although women are independent, earn good money and have access to all kinds of online services and information that their earlier generations never had, yet they stick stubbornly to cash savings in an era of rock-bottom interest rates.
Instead of taking charge of their financial future, women either leave financial matters to the men in their lives or ignore the importance of planning for it altogether. When asked about it, Monica, 33, a marketing professional said, “I find investment tricky plus saving up a percent of my salary is sometimes a task. What’s the easiest way?”. Whereas Seema, 29, advertising professional said, “I want to understand the market, but I get bogged down in all the jargon and end up completely confused”. What we found out through this survey was that for these women, the certainty of outcome far outweighs any desire for profit. But not that they don’t want to take any interest when it comes to building wealth through investment but all they need is a proper guidance. So, if you find yourself falling to this circle, read on.

 

Learn well and be prepared

Learning isn’t all that difficult, especially for a woman. Plus saving money comes naturally to us. So why not understand where to invest to further grow your wealth. Get hold of any newspaper, a book, online reading material, even Wikipedia (for the financial terms) and read them over and over again. Do this regularly for at least a month or two. In time, you will develop an understanding of what is going on in the financial world. You will acquire fair idea of what is going on in the world of economics and financial markets. You can also turn to friends and family members who invest and can enlighten you with their share of knowledge. The key is to take baby steps but just don’t stop.

 

Take control of investment – like every other task

Stop making excuses like you don’t have money or understanding or time for financial affairs. Don’t let your household duties, child’s responsibility or work for that matter come in between your financial planning. Housewives always have the excuse that they don’t earn salary and have no money to save. But what if your husband wants to buy you a new luxury car? Have you thought of asking for a more modest car and having the extra money placed in a savings account in your name?

And when it comes to an annual holiday, you can always pick a humble destination. There are numerous ways of cutting back and investing that money. Saving even just thousand rupees a month over 30 years, yielding an annual return of 10%, will provide you with more than twenty lakhs. For working women, it’s easier. Simply start budgeting and allocate your allowance or salary more sensibly. Every penny you save can change your future. The key is take control of your earnings.

 

Women can’t be better investors than men – Just drop the notion

Women think they are not good investors and don’t want to make mistakes with the money they have. This impression they have of themselves is wrong. It’s just that men are perceived to be better investors because they are more aggressive than women and are prepared to invest in shares – the asset class that outperforms all others over time. The reason women can do better when compared with groups of men is that they tend to do more research than men and don’t act as aggressively. Women look at a lot more factors before making a selection (The hot deals we pick while shopping). So if women can be better shoppers, they can even excel when it comes to bargaining to shares.  

 

Take investment as a journey

Are you prepared for retirement? Your retirement can be 30 years or longer and you may seem you have enough time to plan for it. But start today! Learn about the different investment options and retirement plans that are available for you. You don’t have to be a financial genius to get started. Just have a clear picture as to what you want your retirement to look like. That picture will help you to stay on the road and propel you towards your dream.

To sum up, the first thing to do is recognise that you generally possess all the skills of building your wealth. The aversion to the risk of loss can be tempered by increasing your knowledge and finding a good adviser. Start reading the financial papers or articles today – invest 10 minutes a day in your future. And most importantly, remember that the money you need for your retirement may be available if you simply do a detailed budget and invest accordingly.

Stay updated with the latest trends on finance with us or for more details write to contact@sbsfin.com.

 

ELSS – Options for the Tax Payers in 2017-2018

Viren, a store manager with a leading MBO got hassled after looking at the Investment Declaration form, his HR asked him to submit. Instantly got in touch with a mutual fund distributor and asked for forms to invest an amount of INR 50,000, downloaded the form, filled, signed & shipped. The missing link here, was he failed to ask or mention – that he is looking for some tax saving schemes. Since most of the investors look at mutual funds as one of the leading money market instrument for wealth creation, Viren just followed the norm. Back in mind, he was also assuming that the investment would work as tax saving investment in the declaration form.

On realizing, the purpose is still impending, he decided to speak to us on tax advice and how we thought that the mutual fund he chose to invest in must be an ELSS. Let us learn more about ELSS here:

What is ELSS?

ELSS stands for Equity Linked Savings Scheme. ELSS comprise a unique class of mutual funds that provide investors with tax benefits under Section 80C. Like other mutual funds, ELSS as financial products are also offered by fund houses and are handled by experienced fund managers. Therefore, when you invest in an ELSS scheme, you get to invest in a professionally managed tax saving investment option.

Why people Opt for ELSS Mutual Funds:

  •  Shorter Lock-in period
  • Tax Exemptions
  • Options of SIP
  • Optional Dividend & Growth option
  • Transparent & Trackable
  • Ease of Transaction

 

Comparison of select tax savings instruments across key criteria:

Financial advisor in delhi

Popular ELSS Funds for Tax Saving and Wealth Creation:

 

Axis Long Term Equity Fund

Launched in December 2009, this fund has grown rapidly and have the largest AUM. Axis Long Term Equity is a large cap oriented fund with almost 70% in large cap space.

 

Returns: 22% (CAGR) and 20% (CAGR) over the last 3 years and 5-year period.

 

Franklin India Tax Shield

Launched in April 1999, Franklin Tax shield is being generating a return of 24% over the last 17 years. This fund is accelerating and has beaten its own benchmark in 12 out of last 15 years and has generated over 20% (CAGR) and 17% (CAGR) in the last 3 and 5 years.  However, with almost 80% invested in giant companies, the risk of losses from possible market corrections is also high.

DSP BlackRock Tax Saver

Launched in January 2007, this is a large cap fund with 68% invested in the large cap companies. The fund focuses on companies with strong growth potential and higher valuations. The fund has delivered 22% (CAGR) and 19% (CAGR) over the last 3 and 5 years respectively.

 

ICICI Pru Long Term Equity

Launched in August 1999, the fund rests on a value investment style. This fund raised the bar and outperformed its benchmark for 13 among the last 15 years. The return rates have been 18%(CAGR) and 17% during the last 3 and 5 years.

 

Highly invested on the mid-cap and small cap companies, the ICICI Pru Long Term focus on attractive valuations and thereby reduced risk from market corrections.

 

Birla Sun Life Tax Relief

Launched in 1996, this fund is best for long term wealth management & generation. The fund invests through multi-cap approach and assures wealth creation by investing 80-100% in equities and sometimes in debt and other money market instruments. This tax saver fund has generated over 21% and 18% (CAGR) over the last 3 and 5 years’ period.

 

Reliance Tax Saver Fund

Launched in September 2005, Reliance Tax Saver focuses primarily on the mid-cap and small cap companies with 55% portfolio invested in such stocks. However, over the last 3 and 5 years, the fund has outperformed the average return by 5-10 percentage points.

The fund has generated returns of 26% and 21% (CAGR) over the last 3 and 5 years.

Well like all other mutual fund investments, the past performances of ELSS cannot be seen as a guarantee for their future performance but they are useful in giving us a direction for our Tax Planning Investments.

Please compare and match the funds performance with your financial plan & goals before you decide to invest in any of the ELSS funds.

 

For more details write to contact@sbsfin.com

Continue reading ELSS – Options for the Tax Payers in 2017-2018

Investment Trends, Risks and Opportunities of 2018

“An investment in knowledge pays the best interest.”

– Benjamin Franklin

Statistically and otherwise, 2017 has been a year of considerable and impressive transitional trends in the technology and economy, resulting in notable returns by distinctive companies. It is, however, vital that you stay apresenter of collusive investment that should expect not only financially uplifting results but also a balanced environmental and social return. Experts state that investing transformed itself onto a rather commeasured form in the year of 2017. Moreover, the blooming young generation of consumers and investors has initiated a new approach in parallelism to their money. In other words, they – like every other keen and enthusiastic investor – seek positive endowments.

Your primary motive for this New Year should be to patch capitalism as an element to embark upon proper elevation and enhancement in wealth and adopted financial techniques.

So, here are a handful of Six Financial Advices in regard to any investment that you must consider before commencing your idea for the year of 2018;

Comprehensive Analysis of the New and Upcoming Tools & Services

The dynamic change in technology and networking has enabled the workforce from all over the world to come up with new ideas and techniques, much in the field of investment as well. Internet has enabled an individual to pursue new and enhanced platforms that serve the purpose of assisting an investor at all times for various projects and companies.

 

Pursue efficient Fund Managers with Experience and Expertise

From cash equivalents to private equity; investments are offered at all fields. Henceforth, prior making a transitional decision as such that assists you in making the right move. One alternative would be to hire a financial advisor or fund manager. This helps maintain transparency and sustain consistent integration of management post investment.

 

Assort and Alter your Investments

It is important that you diversify your prospective and alternative investments instead of putting in your entire amount amidst one. This ensures a balance between the possible profits and losses. This could process somewhat like how mutual funds work or like the ETF.

 

Form an Architecture of Investment Literacy

Prior your first investment; spend time in understanding how the process works. The sole key to confidence is through spending ample time in formulating investment tools and techniques. This can be attained by making really minute investments with the aim to build up an affirmative understanding of the process. The second stream to uplift yourself as an investor is to follow the varied sources of information online. At SBS Fin, we are trying to introduce micro-learning channels to pass on the financial inputs in the briefest reads possible.

 

Ensure that you set Long-Term Goals

You should always keep in mind that making an investment holds equivalent risks. Stated so, the investment that you are about to commence should be in parallelism with a fixed, long-term goal that offers secure financial freedom despite the short-term fluctuations. This also ensures focused attention at your end. To understand, long term financial planning and its benefits – you need to sit the financial expert for financial goal setting as per your life phase.

 

Initiate Investing with Less Money

The first step always has to be a careful and smart one. Set a well-integrated budget for the next 6 months to ensure an ample amount for your investment. Now, decide on an amount that you don’t mind bearing loss upon worse-case-scenario.

Henceforth, investing helps your savings grow – only if you truly understand how the concept works. At SBS Fin, we want our investors to indulge and understand wealth management as well as the money market instruments. Try and inculcate the habit of being up-to-date with the trends of the stock market and analyzing its ups & downs for better investing strategies. The same can be followed and assessed on our mobile app SBS FinFit, the same is available on Google Play and App Store.

 

8 Tips to Assess if you are financially ready for Marriage?

Have you planned a successful financial union? Do you understand the nitty-gritties of getting into a wedlock and the add on that come with a blessed engagement called marriage?

If the answer to above question is yes, we are happy that you have planned a successful Financial union but if the answer is no – We would like you to go through the basics as explained below and do the needful.

Apparently in urban set-up, marriage these days requires team work – and demand equal contribution from both the partners. Money can’t buy happiness yet you need money for your needs. Money is a major enabler. It is the closest thing we can exchange for happiness. To survive in this material world, it is as vital as oxygen.

Getting hitched??Before even you plan your wedding expenses, honeymoon the first thing to discuss is finances. It is sensitive, never easy or fun but essential.Money is the biggest cause of friction in a marriage. There is no “my” money, “his” money or “her” money in a successful marriage. Regardless of who does or doesn’t work or who brings the most money; the successful married pool their money together, plan together,budget together, give together, spend together and save together.

While talking to few of my friends for this blog, I asked one of my friend why the conversations on money are so difficult. What she said made me smile. She said conversations around money are not sexy that’s why couples are reluctant to talk. On serious note I think we tend to avoid money conversations before marriage because they come loaded with lot of tension and fear of being judged. It is even harder than the ‘birds and bees talk’ which most Indian parent shy away from having with their children.

Not sure where to start??

Couples can start with discussions on money values-respective upbringing, grow up poor? affluent? respective family’s attitude toward money. How did parents handle money? This can be a touchy conversation, but it can also be liberating and create a habit of communication. The first & foremost part is to do your homework about the financial goals and life goals and also to figure out – how you plan to proceed with it as a team.

1. List your goals.
Do you want to own a home? Have one or more children? Emergency fund? Future career plans? Start a business? Do you plan to send them to private or Government schools? College? Do you intend to retire? If so, when and with how much money in your piggy bank?…how you will blend your finances

 

2. Figure out what each partner’s role will be.
The person who’s more detail-oriented might do the budgeting, account maintenance and check writing. The one who’s more interested in investments can track your portfolio, do research and make recommendations.

Finally planning your wedding expenses and honeymoon.

 

All this will give you some clarity and enable you to enter your marriage with a better understanding about each other and what is important. Remember you are a team and you need to work together.So let us understand the essentialmoves to make, prior to getting married and talking finances with your chosen life partner.

Smart Financial Moves for Life Partners for a Solid Financial Foundation

 

3. Complete a financial fitness assessment.

Before you share your financial story with your significant other, you need to know exactly where you stand. Your financial fitness assessment should include important information about your current financial status. At a basic level, complete your net worth statement and review your recent expenses.

Once you are done with the above, create a spending plan so you can start proactively telling your money where you want it to go in advance. Some other important financial measurements include your savings ratio, debt to income ratio, and emergency savings. But a financial fitness assessment should also include a quick examination of your financial attitudes and confidence about your knowledge of money matters.

 

4. Create a debt reduction plan.

You don’t necessarily have to completely eliminate your credit cards or education loan debt to walk down the aisle with confidence. But it is recommended to at least have an action plan in place to do so as quickly as possible after exchanging your “I Dos”. Lot of Millennials delay getting married until they pay off education or personal loan. Bringing the baggage of debt into a marriage can be a major stressor on a couple. That’s why couples should spend time understanding each other’s current debt obligations. But instead of just identifying the potential problem, focus on establishing a debt reduction plan to deal with education loans, credit cards, car loans, or other obligations as quickly as possible.

 

5. Be sure to make time for money talk.

Many a times we don’t want to talk money fearing judgement. Money talk prior to getting married requires trust and honest communication. Just remember that this process is not designed to dwell on the past. It is a way to use the past to guide future financial decisions in your life together. But if some financial baggage exists, it is better to expose things early on so you can create effective solutions as a couple.

 

6. Schedule regular money talks.

Don’t stop with a one-time exercise. Make this exercise a regular event. This is the best way to avoid having your partner become your biggest financial enemy.

 

7. Assign roles.

Couples must assign roles to manage finances as a teamFiguring out how to consolidate accounts can be a challenge. Sometimes it helps to establish a joint savings account for expenses before getting married to set aside funds for the wedding or honeymoon. You also need to discuss how you currently handle day-to-day financial decisions. Are you a better long-term planner or are you well-organized and prefer to pay the everyday bills? This will help you start creating an initial game plan on how to consolidate accounts and whether it makes sense or not to keep separate accounts initially.

 

8. How will you make major financial decisions?

Will you have spending rules such as a 24 hour waiting period for purchase over a certain amount? Do you feel comfortable using credit cards for everyday purchases to receive cash back rewards or does the thought of using credit going against your financial belief system? Are you going to use automatic budgeting tools which are easily available on iTunes or Google play store?

These are all important decisions that need to be made before walking down the aisle. So, Honey let’s talk about money first before we decide on the engagement ring.

For more details, feel free to write to us on rashi.bhargava@sbsfin.com

 

Habits that hinder your wealth management goals

“If money management isn’t something you enjoy, consider my perspective. I look at managing my money as if it were a part-time job. The time you spend monitoring your finances will pay off. You can make real money by cutting expenses and earning more interest on savings and investments. I’d challenge you to find a part-time job where you could potentially earn as much money for just an hour or two of your time.” 
― 
Laura D. Adams, Money Girl’s Smart Moves to Deal with Your Debt

The former bridge that connects your dreams, ambitions & goals to reality is hard-earned finance. Wise financial and wealth management is an affluence and beneficial task. It moulds class in your ways of living and enhances your personality as you grow.

There are, however, a few habits that cause to be barriers to an efficient wealth and finance management in your life-

  • The Race of Fitting In

We live in a society that has its own, self-formed rules, norms and cultures. In such a fast-paced environment, we tend to get influenced by trying to submerge within the crowd in order to be accepted by our fellow mates. People tend to choose an extravagant lifestyle in order to outsmart one another without keeping basic facts in mind. Materialism has got individuals to overlook relevant elements like financial security, repayments of debt & seeking satisfaction in real life.

Whether you are an entrepreneur or a professional – you are bound to be unaware of what happens the next second. The traditional buzz of consumerism and materialism is slowly taking away the wealth, freedom and peace of mind of three out of four people all around the world.

  • Absence of Basic Discipline

Discipline refers to following a code of conduct or wise behavior to flush out the disobedience & negative perspectives from your life. In simpler words, it is the ability to deny on doing a particular action when others are about to commence it with due respect to moral ethics and acceptance of right versus wrong. Not many are aware of this, but discipline brings along freedom as it comes – the freedom of not living in the guilt of doing something your conscience does not allow.

But, how does discipline affect your wealth management goals? Lack of routine, overhead and unwanted expenses, investing your hard-earned money in unhealthy habitual expenses etc. can hinder your progress in life with each tick on the clock. It is like a vicious circle of disturbed behavior where true content gets far away from your reach at each moment of continuity.

  • Loss of Initial Purpose

Success is said to be a journey, not a destination. Being said that, there has to be an initiation point. This provocative point is called purpose. Your entire future, savings, investments, ideas & concepts in life are solely dependent on this purpose. Sense of direction is a very important part of your life. You should be aware of your goals, integrating each step before execution and taking former efforts to record your progress from time to time in order to remind yourself of where you stand.

Proper alignment of your financial goals can only be accomplished with consistent hard work. And so, for efficient hard work – you must know true relevance of the fruit you are set to attain since day one. Commitment and devoir are the secrets to true success.

  • Incorrect and Absurd Investments

Investment decisions can be tricky and hard to understand at times. In times as such, always remember that salt also looks like sugar. In other words, do not end up believing and investing your hard-eared money on just what you’re shown in the first go. Always follow three golden rules before making an investment (big or small): Analyze, Improvise & Appraise. The motive is never to arrest the idea of investments, rather it intends on rearing the habit with intelligence and wisdom.

Each and every minute agreement should be under a legal and logical supervision before any decision is finalized, let alone a penny invested. Never hesitate in taking professional investment training before speculating and venturing out – for you should always intend on being better than the best. Saving on shrewd investments can help you save the money for better investments to enhance your financial security or status in a trillion ways!

  • Consumer Debt

Debts are broadly divided into two categories: good & bad. Good debts comprise of acquired investments which return profits, a portion of which helps repay the liability timely & make furthermore investments. While a bad debt or a consumer debt encompasses of unwanted liability and unwise investments which lead to financial crisis at its peaks.

Loan is served with the purpose of providing financial support which ought to be paid back with the respective interest rate. Utilizing loans for holidays or personal reasons that provide temporary comfort (lacking an occasion or relevant purpose) can be sheer stupidity. Hence, it is upon you as to where you wish to invest such a monetary form that holds liable responsibility and accountability to another financial institution as the repayment is bound to cost you more than you withdraw initially.

“The speed of your success is limited only by your dedication and what you’re willing to sacrifice” 
― 
Nathan W. Morris

If you think you need to mend ways in your life and value your hard work by choosing to be financially strong, independent and intelligent for circumspection and efficiency has never let a man down, start now. For regular updates on your Finances, please visit & subscribe to our website, www.sbsfin.com

Career Mistakes to avoid for better Financial Dynamics

“Write your own book instead of reading somebody else’s book about success.”

Herb Brooks

Career refers to a particular professional lifestyle choice that an individual makes in order to independently sustain in life and the society he/she lives in – earn a living and contribute to the economy. There is an immense competition in the society and hence, you need to integrate your ideas and strategize each step prior action.

One of the biggest snags that latch along with even a passion-based profession or career prospect are career mistakes which ought to be avoided and prevented upon for a better formulated future and management of financial dynamics. At SBS Fin, we work with lot of Millennials who are passionate and live a life of dreams and their idea is to fulfill each one of their dream – and that is where financial dynamics become significant.

Whether you are in a part time career, full time career, making a side income through your hobby, you must know the significance of financial fitness. Your life goals must have a financial goal as that forms the basis of all life goals.

How you are prone to make unwise decisions and career mistakes that incur a loss of assets and finance?

  • Overconfidence in your work
  • Rigid mindset about the future
  • Misunderstanding what you really want with momentary-influenced choices
  • Devaluing the company you work in
  • Lack of communication with co-workers
  • Distraction and Pessimism
  • Indecisiveness and escaping the reality

The root cause of a tremor in the management of financial dynamics with all due reference to career mistakes is misunderstanding the time value of money. As a practice we are not taught money management during childhood or even growing up years and the repercussions lead to complicated financial dynamics and the millennials struggle as they grow the corporate ladder parallel to their wish lists.

Below are a handful of ideologies with parallel financial mismanagement consequences which can act as a reference for you to clear of what the concept demands-

Analyze your skills and widen your scope of attaining potential

An individual should be wholly aware of his/her skills and strengths. Some people can be sharp at analytical skills while some might have strong logical skills and so on. The primary purpose is to enhance your existing skills and increase focus on creating progress. If you make regular expansions in your professional skill sets by exercising certain skills with mind games or by reading, it is bound to serve the purpose. It is important that you stay constantly focused, less over-confident and up-to-date about your field of profession in order to move forward.

Financial Dynamics Precaution: Investing money to achieve your goal is not the problem – the problem lies in being unable to understand your skill set and making the investments in wrong places instead. Life is all about risks but it is not wise to follow the same while handling finances in link to your career prospects. If you are in a stage where you are contemplating a career switch, trying an alternate career – the same should not impact your financial dynamics. Similarly, constant learning and skill building can be attained for growth if you have a balanced financial dynamic.

Do Not Settle

You must undoubtedly love your job. But that does not entitle you to permanently settle for what you do without exploring all your options. What inspires you now might just appear to you as an eye-candy in the times to come. Try to understand what the company/business expects of you and where you stand as an individual. Apprehend the goals that you have set for yourself, while simultaneously give your best at each opportunity you get to stand for your organization.

Financial Dynamics Precaution: We breathe and function in the upcoming Internet-Economy that helps us be potential to earn more money than we usually do. You should be consistent but not lazy and futile. Life is all about moving forward with the right pace, meaning do not hesitate in doing anything within your reach to maximize your income by moving forward in your field of profession and focusing on big money events in order to gain money and invest it in yourself. If you plan on boosting and pushing your income at an initial stage –  you tend to open doors of opportunities for a brighter future. Whether we work with solopreneurs or SMEs, our financial fitness expert Rashi Bhargava believes in not settling- she maintains one should not settle especially when it is about Emergency or Health corpus.

As a financial planning and wealth management company, we do not believe in settling as well. Whether it is the financial literacy, financial fitness tactics, physical fitness for financial fitness, wealth management tactics, portfolio updates etc, we believe in keeping our clients updated about the new products in markets.

Maintain the Focus & Remind yourself of the reason behind your Choices

Indecisiveness is the last thing that should come your way if you expect on outshining yourself from the past – to a better future. There can be instances when you would feel distracted of or think of negative things while you imagine yourself with your professional / career choice, years down the lane. This is a common feeling. The primary reason for which you need to analyze your skills and passion is to be aware of how inspired are you of your choices and of how much do you really value its worth. Not each opportunity comes your way casually, you have to earn it! You should feel satisfied with your career choice and be honest to yourself about it. You should ensure that your financial investment towards it and the energy devoted in attaining what you have is priceless and should serve the purpose of helping you spree at each opportunity.

Financial Dynamics Precaution: Always remember the motive behind each financial investment you opt for. For instance, if you plan on taking a loan for your education, it will hold value; whereas, if you choose to take loan in order to plan a trip with your family, friends or associates with the idea of repaying back, remember that it isn’t as worthy of the financial liability as it looks. Focus and confidence in self are the primary keys to attaining your prospective goals and you stand nowhere if you choose to ignore the basic financial equation: Income – Expenses = Savings.

Face the Reality

There is no guarantee or a form of security that ensures a consistent future. Focusing on factors like the stability, reputation and worth of your organization in the market plays a major role. No external factor can ever be secure and ascertained, except your internal will to grow and do better – hence you should be flexible with time and keep tabs of the circumstances around you.

Financial Dynamics Precaution: It is essential that you address to real-time common issues in finances within your environment. Always keep a backup financial plan for bad times and circumstances. Don’t just focus on curbing expenses, try to enhance your income by pursuing side-jobs or moving onto better jobs if the financial offers are more advance.

Henceforth, you should learn as to how and where to invest your assets, time & efforts and seek a brighter future and never stop believing in yourself!And if you think you need a personal session on financial goal setting, feel free to write to us on: contact@sbsfin.com

Mental Wellness for Physical & Financial Fitness​

WHO defines Mental health as a state of well-being in which every individual realizes his or her own potential, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to her or his community.

Mental health, mental illness, Physical health…. these words are fast gaining popularity in the world of working professionals, millennials and young children. Since we cater to these age groups, our annual theme of client engagement is kept around fitness and its significance for financial fitness.

When we interact with our clients, for their financial goal setting or their portfolio management or even during the redemptions, it is understood that we are all living in a complex, interconnected world – there is an interconnection between the mental, physical, and financial health spheres, with an imbalance in one affecting the balance in another.We are all running from one thing to another in our daily lives without taking a breather to think and reflect.Mental health is becominga serious issue. There is a lot of talk on direct relation between physical fitness and financial fitness but little has been spoken about mental health and its interconnection with physical and financial fitness. Stress is no more a buzzword, it is serious and has started taking a toll on good health & everyday productivity. The new age prescriptions are not about medicines but they are about Detox. We need to stop at least sometimes and look back and need to look at our own self, we can also consider at it is, do I really need to do this?

Despite our limited view and understanding of mental health as something quite separate from our physical selves – study after study has shown just how connected mental health is to other health measures, like physical and financial fitness. All 3 issues seem to be separate issues but they affect each other in multiple ways.

Mental stress has shown to contribute to chronic illness like High BP, Obesity, Diabetes. Conversely, people with chronic physical conditions like diabetes have twice the likelihood of experiencing a mood or anxiety disorder when compared to those without a chronic physical condition.

Similarly, poor financial health/fitness (Debt/lack of savings) can affect physical well being, economic productivity through stress and other factors. The fitter you perceive your financial situation, the better your physical and mental health.Same way factors like lack of sleep, relationship issues, poor physical fitness go hand in hand with poor perception of financial health. This works vice-versa but health is prime as that will enable us enliven our financial dreams and also to fulfil our bucket-lists and wish-lists. And if you have  good health, you certainly are going to have good life.

Our first client engagement activity theme was Physical Fitness=Financial Fitness. Before we take up mental wellness in depth, here are the quickie hacks on Good Posture & Muscle Health:

 

  1. Stretches and Movements are good in daily routine.
  2. Practice exercises for upper body even when you are sitting at your workstation
  3. Stand on your entire foot.
  4. Always sit with back upright.
  5. Challenge your balance
  6. Maintain a routine regime for exercise – it can be as little as 15-20 minutes a day.
  7. Always follow good posture – as that is the way to healthy muscles &brings agility.

But as my understanding grew and my first   hand experiences of being a care giver to mentally ill patient at home forced me to think on mental health too. Majority of our clients in the age bracket of 25-45. We are rather unfortunate to be working in challenging times where stress is part and parcel of our lives. We are constantly running to meet our deadlines at home and work front. We no longer have the luxury of job security. Increasingly youngsters are complaining of health issues like high BP, Anxiety, obesity, back pain, depression….

It’s high time we start factoring in mental health, physical health and financial health as part of integrated strategy for ourown well being and well being of our clients,employees and other stakeholders…Their mental well being, physical health and financial fitness are all ingredients for happy, productive and successful stakeholders.

Because we understood the need of the hour, our Lap of Fresh Air Fitness was around Physical Fitness and Mental Wellness.

Following are some basic take ways on mental wellness from the session by Clinical Psychologist Ms.Alisha:

 

  1. Sleep well and maintain a minimum 7-8 hour sleep every day.
  2. Develop a routine for meals and follow that at least 5 days a week.
  3. Do not ignore sleep disorders – consult an expert
  4. Say no to junk food
  5. Keep a check on your emotional health. Detox from gadgets and have more of real conversations
  6. Exercise regularly – body & brain both.
  7. Reading is a good exercise for brain.
  8. Breathing is a good exercise for mental health.

Couple the above tips for mental wellness with the physical & posture tips as shared in Lap 1 and Lap 2 of Fresh Air Fitness Engagement programs of SBS Fin. Work on your health and maintain a good health corpus, both of these combined will ensure Financial fitness and freedom for your future life.

To know more about the Lap 2 of our Fresh Air Fitness event or to speak to our experts for Financial Health Corpus & planning, write to contact@sbsfin.com