Exclusive! Open Conversations About Money with your Partner, Parents, and Family are Paramount, says Shreyaa Kapoor

Shreyaa Kapoor is a finance influencer creating informative content for her followers on social media. By skillfully assuming captivating personas like an HR professional, a banker, and a South Delhi aunty, she captivates her followers while shedding light on crucial financial matters.

In the middle of the pandemic, she quit her job to do something independently and started her own business, where she made strategies for small business owners. A year later, she ventured into content creation and now boasts a staggering following of over 750k on various social media platforms.

In an exclusive conversation with us, she spoke about the latest trends, the importance of managing personal finances, and common misconceptions about finance. 

Here are the edited excerpts from the exclusive interaction:

What inspired you to become a finance influencer, and what motivates you to continue sharing your knowledge and insights in this field?

The initial motivation was my own best friends who came from non-finance backgrounds. When they got their first paycheck, they were clueless about taxation on the same and how to invest it further. It was my initial push to start creating content for a larger audience. However, as a camera-shy person, I wasn't entirely comfortable with the idea of content creation. So I started creating static posts under the pseudonym "The money sapling". I slowly and gradually started putting out video content on the platform and soon changed the name to my own. 

Coming from a finance background - I knew firsthand how overwhelming finance jargon can be for someone not from this field. That inspired me to break down concepts from all tents of personal finance into simpler terms. 

How do you stay up-to-date with the latest trends and developments in finance, and what resources do you rely on for your research?

I read all major business papers regularly and not just limited to Economic Times, Mint, and Business Standard, among others. I have also subscribed to finance magazines like Dalal Street and Outlook Money. 

Apart from these, I also follow US-based financial blogs to get a more holistic view of macroeconomic developments.  

What are some of the most common misconceptions people have about finance, and how do you address those misconceptions in your content?

The biggest myth I have seen people have is that investing is similar to gambling, leading to unrealistic expectations from investing in general. 

The existence of this notion means people also expect investing to give them quick gains and make them rich overnight, whereas the purpose of investing is the absolute opposite. 

Through my content, I try to reiterate the nuances of investing and how to have realistic expectations from investing. 

Apart from this, I also talk about how one can develop the right investing strategy for themselves, considering their personal variables. 

What do you think are the most important skills for individuals to develop to be successful in managing their finances?

The essential skills that can put one on the path to financial freedom are self-discipline and, surprisingly, communication. 

Self-discipline is needed because it is easy to create a budget - the hard part is to stick to it. Discipline will help you differentiate between your wants and needs, setting you up for financial success. 

Communication is needed because money is a social subject, albeit ignored. Open conversations about money with your partner, parents, family, and friends are paramount. I have seen multiple situations where people do not talk about their money goals before marriage, and it leads to later stress, or parents don't talk about their money problems with kids, which continues the vicious cycle.

How do you balance your investment strategies and personal financial goals with your responsibilities as a finance influencer?

I practice what I preach. I talk a lot about the importance of automating your investments and passive investing, which is almost 60% of my portfolio. I invest in index funds and mutual funds every month through a SIP. 

20% of my portfolio is individual stocks that I have taken bets on along with my father, who is a Chartered Accountant. 

10% of my investments are in debt funds and crypto, and the rest 10% are in retirement funds. Talking openly about my investment mistakes has also helped my audience gain a deeper insight into investment strategies and hopefully learn from them!

What role do you see social media playing in the future of finance, and how do you think it will continue to evolve in the years to come?

Finance has always seemed an inaccessible space for many in our country. Blame it on the unnecessary jargon or the lack of financial awareness in our curriculum. Social media is changing that in a big way. It is a significant contributor in getting people to think about not just investing but also other, often ignored, pillars of personal finance like tax planning, insurance, budgeting, retirement planning etc. 

While I think an individual platform's relevance might change - social media is definitely going to be a significant catalyst in changing the relationship people have with their finances!