Monday ‘Money’ Motivation: 5 things Edelweiss CEO Radhika Gupta wants to teach her child

When it comes to imparting personal finance and money lessons to kids, it is always better to start as early as possible. But more than the timing of giving such lessons to children, the content of it is also important. Who would know this better than Radhika Gupta, MD and CEO of Edelweiss Mutual Fund. In a series of tweets Sunday, Gupta shared 5 precious thoughts about money that she wants her child to learn first. Let’s have a look.

1. Money has a real purpose

Gupta wrote, “Money does have a real purpose. It enables you to fulfil your dreams, it makes the little and big things in life easier. It adds comfort, it enables moments of joy, for you and people who care for you. So earning money and saving money is important.”

2. Money should not define you

According to Gupta, one should never let money affect his/her sense of self-worth.

“But money cannot define you. Never let it affect your sense of self worth or your confidence, because it has the power to do that. Never let it affect how you are and behave with others either, because people are more than their bank balance,” she wrote.

3. Gratitude is an important money attitude

One should be grateful to what s/he has received from parents or in inheritance as each generation has works hard to create a fortune. So one should take whatever s/he has received and work with that to create more opportunities.

“Gratitude is the most important money attitude. You have more than I did, and I have more than my parents did, because each generation has worked hard. Use what you have to take another leap, to take risks, to create opportunities that we never had,” wrote Gupta.

Five thoughts about money, that I want my child to learn first.

— Radhika Gupta (@iRadhikaGupta) June 11, 2023

4. Greed can take you down

One should know the value of what is “enough” and never take a shortcut as greed can take a person down.

“Greed takes you down. Finance is one of the best paid industries in the world, yet the biggest and best fall hard because of greed. Know the value of “enough” and never take a shortcut to earn money. It can never be worth it,” wrote Gupta.

Also Read: Teach Them Young: The best time and ways to start teaching kids about money

5. Focus on your biggest asset – your talent

Money passed on to a child from his/her parent is not the real asset. According to Gupta, the real asset is a person’s own talent on which s/he should capitalise.

“Your parents have earned a living managing money. But first focus on managing your biggest asset – your talent, and you are playing in one of the best markets in the world – India. Learn to read, write, think, fall, rise, dream, create and build,” wrote Gupta.

In the end, Gupta says the child can learn to manage money much later. “ It isn’t that hard:). And when you do, mutual funds will help you and I hope you will believe they are Sahi!,” she tweeted.