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Fin10 – A course on Personal Finance via email.

By Abhik Prasad on 24 Comments / 4392 views

Do you even know, what you don’t know, but should know about your finances ?

That might sound a bit confusing but is the state of affairs for most people when it comes to personal finance and managing money.

Over the course of various corporate workshops at Finqa, we realised that most people weren’t getting the need for Financial Planning or how it would make a difference to their lives. They had a fixed notion about investing, pre conceived fears and a lot of ignorance on various other topics (e.g. what’s the point of taking a term insurance if you don’t get any money back at the end of the term !! )

It was during one of our review meetings, when we realised that we need to have a service which would help people get financially aware and literate, in an easy to use manner. After a lot of ‘brainstorming’ we came up with Fin10.

The concept of Fin10 is simple:

  • You signup 

  • Get one lesson everyday on a particular topic, delivered directly to your mailbox

  • Spending just 10 mins daily, you learn something new about Personal Finance at your leisure (e.g. while taking a break at work)

  • Interactive in nature – You can ask questions and discuss more on the topics you need more information on.

  • After 3 months, you have a greater awareness of various topics on personal finance which will hold you in good stead when you need to make decisions.

Who is this for ?

This is for anyone who earns money, and would like to learn how to invest and manage money better. Age, income, sex etc etc no bar.

I already know about Personal Finance and managing money ?

Take a look at some of the questions which this course will answer. If you are sure you know everything about everything, then this course is probably not for you.

However, if you have doubts but don’t have the patience to read a book or google 10 million pages, this easy to understand, structured course might just be what the Financial doctor ordered.

And it costs just Rs 1000 for a 3 month period – or roughly about 10 bucks a day.

Think of it as a small investment in knowledge that will help you financially. Click here Signup.

Do let us know if you have any feedback / questions.

Updated on 31st May, 6:00 pm.

As suggested by Alok, here is a sample lesson – 

How to create a savings fund of Rs 12+ crs ?

Satya, 25 years old, is a software developer and earns Rs 50,000 per month after taxes. He is wondering what he should be saving on a monthly basis to create a huge corpus. This email will help people like Satya answer a pertinent question HOW MUCH SHOULD I SAVE and what can I expect in return? 

Yes, there are legal and safe ways to get rich over a period of time.

Let’s say you are a 25 yr old who earns Rs 50,000 per month after taxes. If your salary grows at 10% a year, you save 20% of your income, and your savings grow at 10% per annum,  you can have a corpus of Rs 12 crores when you retire after 35 years (See illustration below to see how your money will grow over time.

However, its not as easy as it sounds else everyone would have been a millionaire by the time they retired. The good news is that with a bit of planning, it is achievable.

So what are the key challenges:

  • Saving 20% of your salary year on year

  • Achieving an average annual growth of 10% per annum.

You will need to plan your expenses in such a way that you can continue to save 20% of your income every year.

Secondly, your savings need to be invested in such a way that they provide you with a return of atleast 10% per annum.

The key is to start early as the power of compounding also helps you. (A person who starts saving 5 years later ends up losing almost 2 crores )

Current

Salary

Rs 6,00,000
Salary Increment  10%
Growth in Savings  10%
Saving Rate  20%
25 year

Age

Salary

Savings
25  600,000  120,000
26  660,000  264,000
27  726,000  435,600
28  798,600  638,880
29  878,460  878,460
30  966,306  1,159,567
31  1,062,937  1,488,111
32  1,169,230  1,870,768
33  1,286,153  2,315,076
34  1,414,769  2,829,537
35  1,556,245  3,423,740
36  1,711,870  4,108,488
37  1,883,057  4,895,948
38  2,071,363  5,799,816
39  2,278,499  6,835,497
40  2,506,349  8,020,316
41  2,756,984  9,373,745
42  3,032,682  10,917,656
43  3,335,950  12,676,611
44  3,669,545  14,678,182
45  4,036,500  16,953,300
46  4,440,150  19,536,660
47  4,884,165  22,467,159
48  5,372,581  25,788,391
49  5,909,840  29,549,198
50  6,500,824  33,804,283
51  7,150,906  38,614,892
52  7,865,997  44,049,580
53  8,652,596  50,185,058
54  9,517,856  57,107,135
55  10,469,641  64,911,776
56  11,516,605  73,706,275
57  12,668,266  83,610,556
58  13,935,093  94,758,630
59  15,328,602  107,300,213
60  16,861,462

12,14,02,527

There are two key points to achieving this plan:

  1. Creating a custom plan based on your earnings and how much you can save .

  2. Identifying those investments which will give you atleast 10% net returns every year (A FD will give you a net return of 6.3% at current rates )

These are some of the things you will learn as part of the 3 month Fin10 course on Personal Finance.

If you wish to signup, please click here.

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24 Comments

  1. Signed up .. looking forward

  2. Thank you for signing up Jitendra 🙂

    In the mean time, if you have any specific questions that you might want answered, do drop us a line at info@fin10.com

    Cheers
    Abhik

  3. Can you produce 1 lesson here in the post itself? Will drive better conversions I think (rather than making people jump places)

  4. Thanks for the suggestion Alok. Just added a sample lesson.

    Btw, we have got a couple of signups from the Rodinhoods 🙂

  5. Abhik! I like the idea, but my feeling is you’re in a hurry to monetize it. Why can’t you give it away for free? That way you might get a bigger audience, and then possibilities of monetizing are limitless (ads/partnerships with banks, mutual funds, etc.). Or you can actually end up creating a funnel for your own finqa.

    And even though it’s only 10 min, can you guys limit the frequency to once or twice a week so that it doesn’t feel like spam?

    And if you could think of some “gamification” to keep users engaged, that’d be awesome.

  6. Rishi, we have been doing corporate workshops for free…and now we plan to charge for them.

    The reasoning behind it is that for something like this, most folks don’t value free stuff. 

    If you pay for something, you are more likely to make an effort to get the best out of it.

    This is a 3 month course…we are planning a 6 month course. If we limit it to two emails a week, then it will probably take 2-3 years to cover all the stuff we think people should know…

    Also, the thinking behind doing it as a email course is that you can always do today’s lesson tomorrow if you are short on time at your own flexibility.

  7. how about freemium? like basic lessons are free and more advanced stuff will cost?

  8. Yes I concur with Rishi, gimme a taste of things to come before investing in the same. 

    Lets say out of 12, give 2 free! 

  9. haha…you want 2, Take 5 here 🙂 

    https://fin10.com/web/category/sample-lessons/

    Here are some more by Ankur (Co Founder of Fin10) on Moneycontrol: https://www.moneycontrol.com/elite/profile/ankur-kapur-3365.html

  10. We need a “Like” button here! 🙂 

  11. 🙂

  12. Signed Up.. and Paid 😉

    Abhik, I have been waiting for the course from the day I met you and the team at TheRodinhoods meet in Delhi.. 

    M searching for a like button for the initiative. 

  13. First of all i would like to Thank Mr. Alok Rodinhood Kejriwal Sir to approve my join request !

    I am regular visitor of the site, Today i read this great article about Personal Finance, though going forward it is paid one. I have seen that how massive amount we can accumulate by time.

    The calculations shown here were static, so i prepared an Excel File where we can modify Salary, Growth Rate, Increment age etc. The reason behind doing this is to know my actual corpus after defined period and rate.

    Hope you all will like it, below is a link :

    https://www.4shared.com/file/sWluEpxVce/Financial_Freedom.html

    NOTE :

    NO INTESION OF ADVERTISING ANYTHING ! ITS A CLEAN SHEET WITH NO BULLSHIT !

    Thanks for everything 🙂  Hope someday we will meet B-)

  14. I have signed up for the course. Let’s see how things turn out 🙂

  15. Hey, Thanks Adarsh. We are working hard to ensure you won’t be disappointed…stay tuned 🙂

  16. Manoj, Thank you for your effort in creating this document. I tried downloading the file but there seems to be a problem with the 4shared.com link. Do you think you could email it to us info@fin10.com so that we could take a look.

    Cheers

  17. Signed in & paid. waiting for mails. Hopeful for better outcome. 

  18. Thanks Abhishek. We are sure you will find it useful.

    If not, we now have a 100% money back policy within the first 30 days if you don’t like what you get 🙂

  19. I have signed up too ….

  20. Yeah, plzz check out INBOX. already mailed it… and let me know if i have mistaken somewhere in calculations 🙂

  21. Thanks 🙂

  22. Also one more thing, after course completion, do u provide any extended support and any certification or something like that ?

  23. Hey guys, Thanks for all your feedback.

    Based on your suggestions, we have introduced a FREE Course and not just a trial.

    If you were on the fence, you can try it out now 🙂

    https://fin10.com/web/pricing/

    The Rodinhood Firehose winners have also been announced at: https://www.therodinhoods.com/forum/topics/the-rodinhood-firehose

  24. Abhik! This is interesting! 🙂 

    I have one more suggestion – I think the Sign Up/Register process (at least for the free plan/user) should have nothing more than email, password, and may be name field(s). The bigger the form, the higher the bounce rate. You can adopt a stepped/staged signup if you want people to convert to paid later on. Something to think about?

    Good luck!

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