Exclusive: 'Don't Wait to Invest!' CA Sakchi Jain Explains Why Starting Early Matters

Gone are the days when finance seemed boring. Today, young individuals are educating others on financial literacy in easier and more entertaining ways, simplifying everyday finance! One such individual is CA Sakchi Jain, a popular figure on social media. Hailing from the city of Ranchi, Sakchi has built a huge community in a short time. In this exclusive conversation, Sakchi discusses her journey, financial lessons, and more, offering valuable insights for individuals looking to learn. Don't miss this insightful conversation!

What inspired you to start sharing your financial expertise on social media, and how did you grow your community so quickly?

After becoming a Chartered Accountant, I decided to share my financial expertise on social media. Growing up, I drew inspiration from my father, who always ran his own business instead of working under someone. Watching him manage his business sparked my ambition to pursue independence and explore my creative side.

I noticed that many people, even those with good incomes, struggle with managing their money. My goal was to create content that's easy to understand and relatable, addressing everyday financial challenges.

Before starting, I took a deliberate approach by preparing a substantial number of videos, around 20-25. This thoughtful planning allowed me to begin with consistency and purpose.

What helped me grow was my dedication to regularly creating and sharing content, actively listening to my followers' feedback, and adapting based on their needs. Understanding their concerns has been crucial in building a supportive and engaged community.

What do you think is the most common misconception about finance among young adults?

Many young adults mistakenly believe their income will always rise, so they don't worry when their expenses increase. This often leads to poor financial habits and little savings.

Another common misconception is that they're too young or don't earn enough to start investing. They don't realize the advantages of starting early and the magic of compound interest. Waiting to invest means missing out on potential growth and financial security down the road.

What advice would you give to someone just starting to learn about finance and investing?

For someone just starting in finance and investing, my advice would be to begin with the basics. Start by learning about budgeting, saving, and understanding how compound interest works. It's important to start small; even small investments can grow significantly over time with consistency and patience. Consider starting with low-risk options like SIPs in mutual funds to get comfortable with investing in the market.

Remember, it's not about how much you start with, but the discipline of investing regularly and having the patience to let your investments grow steadily over time.

View this post on Instagram

A post shared by Sakchi Jain (@ca.sakchijain)

Can you share a personal experience where your financial knowledge helped you or someone in your community make a smart financial decision?

Some of my followers began using their credit cards wisely after watching my videos and started their first SIP, setting them on a path to better financial planning and security. Hearing these stories from my audience feels great, as I know I've made a positive impact on their lives.

What role do you think financial literacy plays in achieving independence and security, especially for women and marginalized communities?

Financial literacy is crucial for achieving independence and security, especially among women and marginalized communities. It empowers individuals to take control of their finances, make informed decisions, and plan for the future. By earning and managing their money effectively, they gain independence from relying on others for financial support. This knowledge also gives them the confidence to voice their opinions and make strategic choices, breaking down financial barriers and opening up more opportunities for equality and empowerment.

What is one financial mistake you feel many Indians make?

One common financial mistake many Indians make is spending more than they earn. This often happens due to a lack of tracking expenses and impulse spending driven by the fear of missing out (YOLO – You Only Live Once). Many people try to keep up with others without considering their financial limits. This behaviour can lead to debt and financial instability, resulting in a cycle of constantly paying off EMIs.

It's crucial to live within one's means, create a budget, and stick to it. Making informed spending decisions and prioritizing savings and investments can significantly improve financial health.

View this post on Instagram

A post shared by Sakchi Jain (@ca.sakchijain)

What's the most important financial lesson you've learned so far?

The most important financial lesson I've learned is that spending money is easy, but managing it wisely requires discipline. Starting early and consistently investing, even in small amounts, can lead to significant wealth accumulation over time. It's not about timing the market but staying invested for the long term. The earlier you start, the more time your investments have to grow, thanks to the power of compound interest. Discipline and patience are key to achieving financial success.

Did you have a mentor or role model who encouraged you to pursue a career in finance?

Yes, my father was my biggest mentor and role model. He encouraged me to pursue a career as a Chartered Accountant, and his belief in my abilities gave me the confidence to navigate the challenges of the profession. His guidance and support have been invaluable throughout my career journey.

What was the most challenging part of your journey to becoming a CA, and how did you overcome it?

The most challenging part of my journey to becoming a CA was managing the intense pressure before exams. There were moments when I felt overwhelmed and anxious, unable to retain information just days before the exams. My parents even thought that I wouldn't be able to appear for my exams. This is a common experience for many students. To cope, I practised meditation, took saltwater baths, and even went to the temple to calm my mind. These practices helped me get back to my studies, regain focus, and perform well in my exams.

How do you balance your professional life with your personal life, and what self-care practices do you prioritize?

I maintain a balance between my professional and personal life by spending time with my family in the mornings and evenings. I prioritize activities like talking to friends, reading books, and continuous learning to stay grounded and maintain a healthy work-life balance. Self-care practices such as meditation and regular exercise are also essential for my mental and physical well-being.

View this post on Instagram

A post shared by Sakchi Jain (@ca.sakchijain)

What's something that might surprise people about you, outside of your expertise in finance?

Outside of finance, people might be surprised to know that I have a strong passion for art and craft. I enjoy creating things from scratch and using recycled materials to make something new. This creative outlet allows me to relax and express myself differently from my professional life.

What's the best advice you've received from someone, and how has it impacted your life?

The best advice I've received is 'You have immense potential. Don't just think about it, work on it. Execution is crucial.' This advice has pushed me to take action, experiment, and learn from my experiences rather than getting stuck in the planning phase. It has encouraged me to be proactive and make tangible progress towards my goals.

What's something you're passionate about outside of finance, and how do you make time for it?

Outside of finance, I am passionate about art and craft. I make time for it by integrating creative activities into my daily routine. This passion not only brings me joy but also serves as a refreshing break from my professional responsibilities.

What is your message for aspiring creators, including something you wish you had been told when you were starting?

My message for aspiring creators is to prioritize consistency. Don't be discouraged by slow progress; stay committed to your vision and keep honing your skills. Success doesn't come overnight; it requires persistence, dedication, and continuous learning. Believe in yourself, take decisive actions, and you will see the results of your hard work.