Kartik Aaryan says family manages his money, point out when he spends too much: ‘Itna khaana kaise khaya jab diet pe ho?’ | Lifestyle News

When it comes to matters related to money, a lot of us find ourselves clueless and turning towards our parents for help. Bollywood actor Kartik Aaryan is no different. In a conversation with Anupama Chopra, he revealed that his family is the master of his finances, tracking all his bank accounts and making purchases on his behalf. “Mujhse ye sab sambhalta nahi. Mujhe ye tak nahi pata mere account mein kitne paise hai; hain bhi ki nahi (I can’t manage all this. I don’t even know how much money is there in my account, if I even have any), ” said the Chandu Champion actor.
When asked if he is given pocket money or allowance, Kartik Aaryan revealed: “I have to ask for their permission. Mujhe car leni thi aur mummy ne mana kar diya, ki ‘Paise nahi hai‘. (I wanted to buy a car but my mom declined saying there’s no money).  I have to accept that, I don’t even know which account to open, which one has what money. If I go to a restaurant and the bill comes too high, my parents would call or message me saying, ‘Itna khaana kaise khaya jab diet pe ho (How did you eat so much food if you are on a diet?)?’
Maintaining a working knowledge of finance in this day and age has become crucial, and Kartik Aaryan’s instance underscores that point.
Mukesh Pandey, director of Rupyaa Paisa, says that in this era of economic instability, cyber-attacks, and constantly evolving investment opportunities, financial literacy will prove to be your greatest asset. When getting started with money, here are five fundamental financial principles you must know to protect your assets and build financial independence:
1. Budgeting
A well-structured budget is the backbone of financial stability. Follow the 50/30/20 rule: 50 per cent of income for necessities, 30 per cent for discretionary expenses (entertainment, dining out), and 20 per cent for savings and investments. Use fintech applications to track your spending and improve money management.
Maintaining a working knowledge of finance in this day and age has become crucial. (Source: Freepik)
2. Build an Emergency Fund
An emergency fund can come in handy for unexpected expenses—medical emergencies, job loss, or urgent repairs—that can derail financial stability. Financial experts recommend saving three to six months’ worth of living expenses in a highly liquid, interest-earning account. This ensures you don’t resort to high-interest loans in times of crisis.
3. Learn basic credit and debt management
A strong credit score (generally 750+) is imperative for favourable loan terms and interest rates. A good credit profile is maintained keeping the credit utilisation ratio below 30 per cent), paying bills on time, and avoiding unnecessary debt build-up. This practice will ensure your financial credibility. You may set up auto-payments to never miss a credit card repayment due date.Story continues below this ad

4. Start investing early
Investing is key to long-term financial security and wealth generation. Minimise risk diversifying investments across equity (stocks, mutual funds, ETFs) for growth, bonds and fixed-income instruments for stability, and real estate and alternative assets for diversification. Understanding and leveraging the power of compounding will efficiently generate wealth.
5. Buy insurance
Insurance is the first primary risk management tool. Having health insurance, life insurance (especially term insurance), and disability coverage protects one’s finances in case of unforeseen events. Evaluating premium versus coverage, policy exclusions, and claim settlement ratios would help ensure the right selection.
DISCLAIMER: This article is based on information from the public domain and/or the experts we spoke to.