I met somebody a few days back and he asked me the following questions:
Why do you write a blog? What is the goal? What is India’s biggest financial planning issue? What are you doing to help the spread of financial literacy?
I liked the questions, but he must have felt that my answers were flippant…so read on, this is truthfully what I told him. I hope he understood it exactly like that.
I do not know why I write a blog. Frankly that is true. It cannot be for money – if you guys click on the Google ads, I make money. I have no clue of how to monitor clicking except depend on Google’s figures. This I cannot audit. So my customer (Google) tells me how many ads came and what rate they will pay me. One has to be challenged to accept this as a business model. It is more like an NGO!
I am not here to change the world: No, I am not here to believe that people read my blog, understand and implement. I also know that a survey will make me feel good rather than tell me the truth. More importantly this blog is not like a ‘do it yourself model’. I write on too many things – and some of it irrelevant.
I cannot sit on judgment over the quality of mutual funds, ulips, service by financial planners, banks, or about their charges. Yes once in a while I praise them, crib about them, make fun of them, etc. but I do this about relationship managers, clients, unions, auto drivers,…so it is more fun than learning.
Many of my friends, relatives, colleagues, ask for advise. Some take them, some do not. If I am a professional and get paid for my service, surely I cannot crib if they do not take my advise, can I? Or should I?
India’s biggest problem in financial services: No clue, neither too keen to set the world right. Problems will remain, solutions will be available those who connect the two will have to be paid to connect them. I just write about problems and solutions.
Financial literacy is perhaps the most abused word in the financial services business now. Others being ‘we are here to help the small investor’, ‘financial inclusion’, ‘investor empowerment’, ‘investor education camps’, nice to hear. However the ratio of financial education budget to financial advertising power is 1: 5 billion. This is like a Brazil vs. India football match. God help those who put money on India saying ‘I am patriotic’.
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