Krati is a Happy Kuverian. She is a 28-year-old IT Marketer. We spoke to Krati about her experience with Kuvera, India’s friendliest Direct Plan Investment Platform.
Please tell us about yourself, where did you grow up and your story?
I grew up in small townships of Coal India which were set up around mining areas in eastern Madhya Pradesh. I did my schooling from KV which was attached with the townships. The place I stayed was very small and one can say that if not for the townships, the area would have been covered by beautiful forests. I am an only child of 2 doctors and both my parents are really simple. Being in a small place our lives were quite simple and expenses were minimal.
For my graduation I moved to Bangalore to pursue B.E. This was my 1st experience on how much money a city drains out of you. I used to consider myself a miser but my expenses proved that it was not at all the case. Still it went on and after graduation I got a job. During my early career my father would keep advising me to start investing but I just used to turn a deaf ear to him. I did have some savings but I would spend it all in one thing or the other. The biggest challenge to follow his advise was that I could not understand how to invest and what type of investments were present in the market. My parents did try to explain things but it just bounced off my head.
What is your approach to financial planning?
Having spent most of my earnings till I was 27, I am now a firm believer that at least 30% of your salary should be invested for future. Now I have invested in 4 equity funds. I have planned out 2 of them for retirement planning, 1 as trip fund and 1 as personal fund for big purchases. Apart from this I have also invested in 2 liquid funds. One liquid fund is dedicated as an emergency fund from where I can extract money in 30 mins. In the other liquid fund I keep adding the money I have saved up at the end of the month and I am planning to start an STP from it so that my money gets me more returns than a savings account or liquid plan.
How did you learn about Kuvera?
My husband mentioned Kuvera as a prospective platform to start investing, he found it on reddit. When I read more about it on reddit & Market Maestroo I decided to give the platform a try.
How were you investing in Mutual Funds before? Did you know about Direct Plans before Kuvera?
I had never invested in MFs before Kuvera, however my parents used to invest on my behalf via bank Demat Accounts. And, no we had not heard of direct plans before.
Why do you invest and why Mutual Funds?
The main reason I invest is to save for future and for a rainy day. 2nd major reason is to have a better control over finances and do things in a planned way. Like I have a trip fund now, so I know that till I have reached a certain point, I will not plan trips where as earlier there was no such planning involved.
Mutual funds are very flexible and highly liquid. Plus you can start an SIP of as minimum as 500Rs which is great. The best part we can invest in Mutual fund right from our home and can track their progress. (Kuvera made it really really easy, so kudos to you all ? ) Compared to other options such as FD, KVPs, Gold etc MFs are easier to understand and liquidate. Plus the assurance that the money is being managed by professionals in a diversified manner is something that agreed with me.
What were the biggest problems that you have faced with investing and financial planning in India?
Lack of awareness material which explains how to plan financial investment in a simple manner.
I have been wanting to invest for years and I tried to find sources to learn but things would just bounce off my head. 2nd even if we do find out how to invest, the lack of a good platform is 2nd challenge. After listening to my parents I opened a demat account with my Bank and I must say the platform was horrible for Mutual funds. I could not make head or tail out of it. Moreover the bank guys kept calling with offers for ULIP and there was no STP functionality which I wanted to plan my expenses better. I was tired of chasing bank after bank for a good platform or any online solution which was trustworthy. At one point the whole exercise made me want to give up on investments and I was planning to just do an FD and leave it. Even though my parents used to invest, they were also not totally financially aware and were taking the help of an agent who was selling regular plans. I wanted to dig out the truth and get the full picture on my own and that was a struggle. Finally I turned to YouTube and found good videos by Market Maestroo and followed threads on Reddit to dig out more information.
In the end I am glad I went through the struggle and even helped my parents simplify their investments ?
Can you describe your experience with Kuvera?
Not to sound like a fan-girl but I absolutely loved it! The platform is super easy to use & navigate and provides just the information you need unlike other demat platforms which bombarded me with useless info.
Kudos to the whole team, I would pay for the services if you all had an option as it is genuinely good. A must try for anyone looking to invest.
What goals have you planned for?
So far: Retirement, Trips & personal fund
How did you choose which schemes to invest in? Will you recommend Kuvera to your friends and colleagues?
I looked at CRISIL rating of mutual funds on MoneyControl and counter checked on Kuvera about the policies before investing. The symbols associated with funds were helpful in making the decision.
I have been recommending Kuvera to anyone who asks me about Financial questions ?
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