Popular finfluencer Rachana Ranade has some financial advice for women on the occasion of International Women’s Day. The Chartered Accountant-turned-finfluencer gave details about where she spends her money, her favourite investment instruments, and some financial advice for women in India in an exclusive conversation with Business Today.
Ranade told Business Today that she invests most of her money in stocks and mutual funds. She also noted that she prefers gold and foreign stocks over cryptocurrency investments.
The popular finfluencer also noted that she splurges her money on electronics and explains how before shopping for anything expensive, cost per use needs to be kept in mind.
She said, “Before you buy anything just ask yourself whether you really need it or not. I say you have to calculate the cost per use. So just as an example, if I were to buy some expensive headphones worth like Rs 40,000 or Rs 50,000 and if I'm going to use it only once or twice, the cost per use is like crazy high. I should not be spending that much amount. If you feel you're going to use it a lot many times then spending makes sense. Always calculate the cost per use and then make the decision of shopping.”
The Chartered Accountant also shared her advice about dealing with trolls and her own strategy for the same.
“I definitely get trolled. I am no exception. But I don't really comment back to them. If it is a genuine troll, for example, if I've gone wrong somewhere, I would definitely apologise to every comment. But if it is just like nonsense trolling I just ignore it,” Ranade said.
Ranade also shared some advice for women to excel in life. She said, “I should not be boasting about myself but I think the best advice for women nowadays is to give your hundred percent, be fully dedicated.”
She also shared some anecdotes from her time studying to qualify for the CA exams.
“ I know that even while I was doing CA, I knew that I'm not amongst the brightest kids, I always knew that I was average or a little bit above average. But then if you know yourself, you have to work accordingly. So I said there is only one thing that is under my control which is 100 per cent hard work. I remember studying for like 15-16 hours while I was in CA finals. So that is that. That is who I am, 100 per cent dedication is what I always give,” she concluded.