Tag Archives: finance

Saion Mukherjee of Nomura India on banks, markets & more

**Saion Mukherjee of Nomura India on banks, markets & more**



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Saion Mukherjee of Nomura India speaks on Banks, insurance, infra & pharma key overweights. How quality financials to benefit from the lower cost of funds and budget fairly acknowledged NBFC crisis. Budget reforms cap chances of deeper NBFC slowdown. Select corporates will benefit from a fall in the cost of capital and more.
To know more watch the video!

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you're watching this special chat with Simon mukerjea phenomena today they recently come out with a note begging the nifty target by March 2028 closer to thirty thousand levels so I have it this I on because you're joining us on the show today to take the discussion on markets and macros further thank you very much as I on you know you're a rare voice interact very very you know rarely to media media and regarding the your notes but the recent one was quite interesting one closer to 13,000 in such an environment where collapse of growth is really concerning almost every market participant what makes you constructive on the market at this stage so I think I you know the growth concerns have been there for quite some time and you know if you look at some of the segments specially consumption oriented segments like autos for instance we have been seeing bad numbers and it's getting reflected in the stock prices as well what makes us somewhat constructive is the fact that on the macro site if you see the way the cost of capital has come down or you know the interest rates have fallen I think clearly from the budget where we saw the government sticking to its fiscal in fact you know it has surprised us positively by delivering a three point three percent fiscal deficit number and also the other measures which have been announced in the budget whereby you know there is an intent to attract foreign capital I think the environment is set for a lower cost of capital which actually supports valuations for the equity markets the other factor which we have been worrying about is you know this whole NBA FC related issues and I think the key takeaway from the budget are one of the positives we felt was that clearly there was an acknowledgement of the problem some kind of a support was given now how effective is it that's going to be is something we have to wait and see but clearly there's a recognition of the problem and you know a statement of intent is there that the government or the policy makers would like or RBI would like to you know step in as and when the case may be so that probably eliminates the risk of a major slowdown or a very deeper slowdown so if you look at what our macro team or economics teams are forecasting is essentially a revival in growth so we are below 6% today but by the first half of calendar year 20 we are saying we will be closer to 7 or even higher than 7% growth so essentially our growth trajectory is upward from where we are today supported by a lower cost of capital so that's largely the framework which gets us in fact you know cost fallen cost of capital is the you know just gives boost to the valuations overall but cost of capital has been edging lower for some time now maybe the acceleration in bond yield fall is last couple of days and weeks but rate transmission was not happening they have been three cuts by when of which quarter do you see the benefit of lower cost of capital start flowing in corporate India but at a much more accelerated pace and mainly financials which you're you know essential argument is that will be the beneficiary of lower fall fall Anita you know since the elephants crisis came to the fore in in you know later last calendar year I think we have been grappling with lower liquidity in the in the banking system you know there were factors there were concerns on current account at that point when oil prices were kind of moving higher foreign inflows were also quite low because there was an impending elections and there were concerns around there so in general the liquidity environment was quite tight now for the first time I think in from sometime mid of June or early June we have started to seeing a good amount of liquidity in the banking system so I think you know a higher amount of liquidity is something which would be required for transmission of rates to happen so I think we are at that point and I am hoping and we have to wait and see how this plays out there is a reluctance to lend right I mean because there is an element of cautiousness among lenders so that's obviously is understandable but as liquidity improves it kind of helps at the margin to pass on you know the fallen rates so we are expecting you know rate transmissions to gradually improve from here on so your conversation with corporates mainly the financials and in BFC heads what is the what is the kind of feedback you get in your own calculation because first quarter you know the mother expected to be washout across sectors but sequentially do you see numbers improve from here on so you know essentially the interesting thing is that you know you you have corporates where what would be the beneficiary of this fall in cost of capital you know are or NBF sees or financial intermediaries who are beneficiary of a falling cost of capital because they are perceived to be somewhat better quality names right so they can have access to capital at a lower cost at the same time because there are lenders and intermediaries who are in stress they are in a position to gain market share so we are looking at pockets where companies are or you know the lenders are able to borrow at a lower rate and also gain market share in the end market right and the pricing still is quite good there so there is an argument for improvement in spreads for those financial intermediaries so that's the that's something which we are expecting will play out if you look at financials which obviously is you know one of the bigger contributors to our growth forecast earnings growth forecast over the next couple of years you know for this quarter our analysts forecast I was just looking at it you know for most of the NBS sees and corporate banks that we cover and which matter it's almost all almost you know 19 20 percent kind of a growth that we are seeing in operating profits of people for these companies so I think it's it's not really that bad it's showing signs of revival and on the asset quality side we are keeping a watch because there is incremental stress on NBF CS and HF C's but we at this stage believe that it's kind of assumed in our numbers but we are definitely keep an eye on that so the biggest sector financials we are quite okay with the kind of earnings delivery that you know we intend to see this quarter the other big worry in the mind of the market is the kind of announcement on divest him spend which is happens on the government side and people fear that one announcement and divestment and other the change of norm higher you know share coming into the market and lowering a promoter share is actually crowd out the market in a way and will increase supply but you have a control of you that it may not be midget and you know yeah I mean you're right so you know I think this investment target we have seen numbers you know closer to 80 thousand crows so they're about the fact is it has inched up higher compared to what was there in the interim budget it's not a very big number I mean there could be other ways of monetizing also which could include you know monetization of certain assets you know like toll revenues for instance which can get monetized so there are other ways of monetizing as well so the number per say compared to where it was in the interim budget has gone up but it's not really that dramatic you know to have a you know a completely different view on on divestments and the other question you mentioned about was changing in ownership yeah that's something which is a proposal at this point right which is the proposal to Sebby and it's something which we don't know how and how long so it's going to be a very gradual process no immediate or major supply expectation that we have however these things this increase in free float essentially could increase the weight age of Indian stocks in the benchmark indices you know which in turn would lead to inflows so that's something which you know we can negate the supply that we are you know kind of talking about and if you look at you know some of the very Maki names would you know figure there I think there is very good demand and there should be good demand for some of those people so when you were talking to the universe of clients all kinds of FI eyes what is the feedback you got regarding the the kind of higher taxation or surcharge they'll tell some of them will start getting now will be levied because of a opiez what's the feedback there so the feedback I mean obviously we have seen in the market reaction and the voices which have been raised so obviously incremental taxes is something which is negative it eats into the returns clearly now is there a way to kind of work around that I frankly I don't know I mean one has to wait and see how that plays out but yes at the margin that's definitely incremental for the set up for many of the investors today you're : autos most of the auto stocks are at 52 week low anyways apart from two wheeler which are seeing relative buying and you are structurally negative on it now how prolong could this slowdown be and how risky could it be for investors to try and hunt for value there at this stage or do you think at later stage perhaps there could be a case for relook they were at least for now it's a strict no no so you know autos actually we are probably it's likely gone more negative than what we were earlier so obviously you know the stocks have been correcting because of slowdown and one of the argument was that we kind of thought of you know the these are like well done companies generates a lot of cash flow so you know there's a high cash flow which should give support to these companies but what we are seeing is that there is you know continuous erosion or earnings cut which is still happening right I think you know given the nature of the sector you know it's it's we could see further cut in earnings so that worries us so we have cut our numbers but still there is a scope for further negative surprises as far as earnings are concerned and then on top of it we have to deal with the structural issue where you know the government is trying to make a push for electric vehicle in a very serious way I think you know I mean for the for the country there are a lot of positives which can come out over the longer term but it's and I'm sure a lot of you know the auto companies are taking steps to participate in in move towards electric vehicle but that uncertainty remains so whenever there is a disruption how that kind of plays out is very difficult to kind of predict so what I sense is that when you do not have an earning support and the structural overhang and and and some of the pockets the ownerships have been high so I think we may have to wait for somewhat more where we expect the multiples to in somewhat lower and then probably you know relook at these names and hopefully we will get some clarity on on the EEV strategy etcetera but that's not in the immediate future farmers space you have been positive on but now you believe that there's a bigger turnaround at clean selectively stocks have started looking positive there can you talk about any stuff frankly you've been positive it hasn't really you know worked out so far yeah I mean it's been very range found and you know we haven't seen a clear break out in those names and understandably because you know again you know we have seen big amount of disruption there and you know earnings volatility has just been quite you know significant but you know what we think is that we are closer to the bottom and maybe we can debate as to how long will it take for the earnings revival and the stocks to perform but I think at the margin risk reward is favorable and I think if you take a cup you know two years view I think a lot of the issues will fall in place so I think the biggest pain point has been the US generic space and what we are seeing there is that I mean it's still challenging but it's not deteriorating any further as far as you know the pricing environment is concerned and on top of that there is an acknowledgement of the issues and companies are taking steps to you know get this structure right get their cost structure right I think that's yet to kind of you know play out and I think the expectations are quite low on any of the new initiatives of the company of stake here companies have taken on speciality innovation etc which can potentially play out right so if you add up all I think the risk/reward is favorable though it has been a Lagarde for quite some time and it hasn't really worked in the last one year or so but we are holding on to our call and we think you know we won't lose much money from where the levels are yeah I mean it's debatable whether it's a one year or two year but I think if we have a two year window it's a good time to accumulate what's your view on utilities and some of the energy stocks for that matter because at least utility that also a beneficiary of lower falling heels and lower cost of capital are you constructive yeah so I mean we don't cover utilities stocks at this point but yeah I mean from a strategy perspective we have overweight in our model portfolio as far as utilities is concerned I think clearly again I think as you mentioned right fall in rates is is something which is positive for these names in addition I think as you know the growth revives over period I think and of course the push for electric vehicle etcetera I think the electricity demand expectation from a longer-term perspective is is constructive so yeah so the combination of the two make makes us over it on this particular space and talk to us about your recent interactions in the align community or some of your last visits in the region how are they looking at emerging market as a pack in India with in that pack because we are almost there for a rate cut cycle to begin in us as well we are in a middle but they are also starting off so how will India stand in in that view so you know in fact you know mind I mean I feel that there has been a material change in in way people kind of look at India I think before the elections in early part of this calendar year there was a lot of skepticism you know of course there was issue with growth the NBF see and I elephants crisis came up at that point in time on top of it you had an uncertainty around the elections I think from end of February we have seen increasing interest in India among investors and you know on a relative basis right in the region the uncertainties around trade war and India being less exposed to those uncertainties make it relatively more attractive compared to the other markets so my interaction do suggest that there is higher interest today than what it was let's say the start of the year and you also sound relatively less worried about the growth you know there's a lot of gloom and doom on the street at least regarding growth you think in the next couple of quarters growth will chuff out and we are almost at the bar so we may not I mean so it it will tougher as you said right so we have gone below 6% on on growth and if you look at our forecast which our economics team is expecting you know we are talking about six and a half or slightly more towards the second half of this calendar year and going up to seven plus in the next calendar year so yeah there is a there is a gradual recovery trajectory which we are factoring in so yes so that's something which is quite critical and we think that the potential deep slowdown is not our base case so when your clients you know your interactions happen with them where do you think they eagerness to buy life and hence the inquiry the highest where are they curious to know more about but still not wanting to step their feet in – and which are the areas they are completely staying away from even if you recommend something there yeah so I think clearly you know the banks and financials is one space which gets the most you know I would say interest clearly there is a story out there because there is a disruption and the market dynamics are changing and you know as we had discussed last time there is change in management which kind of August well for some of these banks so I think there's a fair amount of interest in the financial space also I think you know the government's focus on investment led growth is something which makes investors interested to look at you know infra construction space I would say these are the two spaces where we see a quite a quite a lot of interest I think autos again because the stocks are corrected and there is a lot of I do see eagerness you know among investors to look at that space so I think these are the areas the key key areas where I think we get a lot of interest obviously I think you know given you know India has been a consumption led story so there is obviously an interest there but you know what we find is you know one of the earnings expectations on consumption side is still still high and we just find the valuations too rich and there is a very limited scope for error so given the performance we do see a lot of interest in in these names as and when they correct but I mean what we think is that maybe it will be an underperformer from here on for quite some time sure you know one view I would like to get from you as a market participant as a strategist on the broader market you have your Universal mostly large cap but still an observation point of view because market did become extremely concentrated last couple of months only a select basket of stocks are moving up historically when this kind of phase happens low growth phase and broader market is shunned by a large section when does interest come back you know going forward you must have seen previous phases as well no growth phases or do you think market will be led by large caps or recovery will be led by large caps only yeah no I think you know it's very selective market I mean that's what we have been saying that you know one has to it's it's look at you know bottoms up you know stock selection of portfolio making I think I think there's a you know good time to look at the smaller and mid cap names which you as you said because of growth concerns etcetera they are kind of shared out if our hypothesis works out right where there's a revival in growth you already have lower cost of capital I think you could see a lot of confidence coming back to the mid caps and and relatively smaller names so from I think again you know this is a very good time I think to kind of look at that name and and of course there could be good names in the last cave space also but as you mentioned that you know this is this is a segment which has been more or less ignored by the markets and I find in in certain store that I cover the valuations are quite attractive and I think the expectations are a lot lower yeah the universe itself is at a five year low in terms of valuation so I'd like to end with the you know at this point of yours can we out of all the conversation the entire conversation I had with you can we infer that in the next three four years the current the six months from here would be the lowest in terms of growth and some of the weak parameters or high frequency indicators formed in the next six months perhaps could be the lowest we may see next three four years yes I think so I mean that's the base case that we are seeing so we are probably maybe a quarter or two quarter where we kind of grapple with you know the impact of the slowdown which gets reflected in earnings and that's when things starts to stabilize and you know the market I would say is forward-looking right so it tends to incorporate those things you know before the event happens actually so so therefore you know I think similarly when when the revival signs will start to pick up you know you will see revival happening so I would agree with your assessment that you know the next couple of quarters would be the time when we will probably you know the in terms of worry would be the bottom point and from there we would see a reverse so if one were to go about making a nice portfolio stocks or basket of stocks probably the next six months could be absolute all right and on that note I'll let you go thank you so much for your time thank you wonderful chatting with you yeah pleasure thank you okay I respect you

Volatility Disguised As Opportunity? | Sridhar Sivaram of Enam Holdings To ET NOW

**Volatility Disguised As Opportunity? | Sridhar Sivaram of Enam Holdings To ET NOW**



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With the markets in oblivion and no certainty for earnings, is a deeper market correction on the horizon? Watch Sridhar Sivaram of Enam Holdings as he shares …

3 Things Society Doesn’t Want You To Know About Money

**3 Things Society Doesn’t Want You To Know About Money**



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In our culture today, you might hear people say things like:

“It’s impossible to graduate from college without taking out student loans.”

“You can’t buy a car or have nice things without debt.”

“The only way to become a millionaire is to be born into a rich family.”

But believe it or not, our culture doesn’t always tell the truth. Shocking, I know.

So, in the latest episode of The Rachel Cruze Show, I’m going to set the record straight. You’ll learn:

• Three truths society doesn’t tell you about money
• How a school teacher paid off $40,000 of debt in just 14 months
• The proven plan to become a millionaire, no matter your income

Resources (everything mentioned in this episode):

Become a Financial Peace University Coordinator!

The 7 Baby Steps:
Smartvestor Pro:
Investment Calculator:
Zander Insurance:
Financial Peace University:
Everyday Millionaires:
Show page:
– Well I hate to be
the bearer of bad news, but society has been lying
to you about your money. And as your money BFF,
I'm here to make sure that you know the truth. (upbeat pop music) Listen guys, society is not
always going to tell you truth. Yep, you're going to hear that
you have to go into debt for things you want, and to live a life where
you control your money and your future is impossible. But I'm here to tell you, that's not true. So today I'm going to show
you how to do some things that society tells you are impossible— things like winning with money right now, no matter who you are, not going into debt for things you want, and becoming a millionaire, because it is still possible. So I'm going to bring on Elizabeth who did the impossible and
paid off $40,000 in 14 months. And then we're going to have Chris Hogan back on to talk about how everyday people are becoming millionaires. Because again, society tells you, "To be a millionaire, you
have to be rich and famous." But that is not true. So I thought it'd be fun to see what people are
saying out on the street about these topics. So I sent
out my friend, Will Smith— not that Will Smith, sorry,
a different Will Smith— to get some insight, so take a look. – Hey guys, Will Smith here. I'm out here in Nashville. Let's go see what people
have to say about this topic. – Do you have student loans? – Yes. – Yes, quite a few. – Yes. – Do you think student
loans are a normal thing? – Yeah, I would say they're very normal. College is super
expensive, so most people who go to college, yeah, have them. – I think most millennials, particularly, have student loans. – Do you think it's possible for someone to go to college with zero student loans? – Do I think it's possible? Yes. Do I think it's likely? No. – No. – I think you'd have to have either parents or
somebody helping you out. – Do you have a car payment? – I do have a car payment. – Yep. – Yes, I have a car payment. – If you were going to buy a car tomorrow, how would you pay for that? – I would probably
put a small down payment and finance the rest. – How long would it take
you to save to buy a car? – With my income, I feel like it would be at least 10 years. – Maybe, two to three years. – How many millionaires do
you think there are in the US? – 100,000? – 1,000. – Somewhere in the 40,000s? – I would say, maybe,
anywhere between 100 and 200. – What if I told you there
were 11,000,000 millionaires? – That's shocking. – Do you think you'll
ever be a millionaire? – No. – Fingers crossed, maybe, one day. – We can hope. – And what is your plan,
to becoming a millionaire? – I am going to become an actress. – Maybe, not teach yoga anymore. – Make wise decisions with my investments. – Probably, get internet famous. That's what most people do, right? – Do you think you could ever
teach a class about finances? – No, I don't think I could ever teach a class about finances. – Not yet, no. – If someone asked you
to teach a class on personal finance tomorrow,
would you be able to do that? – No, but I would love to take that class, if it was offered tomorrow. – All right, let's jump into it. You can buy a car without debt. Mmm hmm. It may not be a great car, but you save up and
you pay cash for a car. You can go to school
without debt. It's possible. You may not be going to your dream school, or your teenager may not be
going to their dream school. Stay in state, go to a community college, work, scholarships and
grants, all those things, and you can still go to school without debt. And, you guys, you can
become a millionaire. We'll talk about that
later in the episode, but it is possible. But, there's a few things
that you must do first to set yourself up for success. (whimsical piano music) Number one: You have
to change your mindset. One thing I noticed, through
all those interviews, is that people really believe
that they just can't do it. And dealing with your
money, it is 80% behavior. It's only 20% head knowledge, okay? So understanding how money works
is only a very small portion of it. But doing it is actually
what's going to cause change. But, in order to do
something, to have action, you have to have hope. You have got to believe that you can. Number two: Stop believing the lies. Yes, society is going to tell you so many things about money. Everything—that debt is normal,
and the only way to succeed and to get what you want
is just the avenue of debt. That's the way it is. Guys, if that's what you believe, then you're going to be normal. Now, let me break it down for you. Normal—78% of Americans
live paycheck to paycheck. That's right. Their money comes in, they pay all the bills,
all the credit cards, all the car loans, all the student loans, their mortgage—everything.
It goes right back out and they have nothing. They have to wait for next month's paycheck. So, if you'd like to be
normal, you can be normal, but if you're sitting there, thinking, "That doesn't sound fun,"
or maybe that's your reality and you think, "Mmm, I can't do that." You get to change. You really, really do. Which is number three: Get on a plan. You have to be intentional. Now, this is not going to happen over night, but you have to stick to the plan. And the plan we teach,
over and over and over, is the Baby Steps. The Baby Steps are seven
steps that get you from zero savings, full of debt,
living paycheck to paycheck, all the way to living completely
debt-free, building wealth and being tremendously generous. Now, if you're not familiar
with the Baby Steps, make sure to click the link below, because that video is going to show you everything about the Baby
Steps, so that you can get to it. Guys, it works. I'm telling you, it works. And now, I'm so excited,
because I have Elizabeth coming on, who did the
steps. She's doing it. She did the impossible
and made it possible. And now, she is even teaching
people how to do it herself. So, take a look at her story. – I felt out of control. I
felt chaotic. I felt no peace. I had $40,000 in student loan debt. I had no idea how I was going to pay off the student loan debt that I had accrued. I'm a teacher, so I had heard,
"Oh, they'll forgive it after a certain number of years." So, I spoke to the student loan company and they said that the plan that I was on would never repay my student loans. She said, "We will forgive
your loans when you are 50 years old, or whenever you repay it all back." And that was my moment of reality. Once I started working the
Baby Steps in Financial Peace, and saw the momentum of
my debt snowball starting, I felt so victorious.
I felt like I had won and I had beat the system, almost. After I paid off all of
my student loan debt, my coordinator reached
out to me and he said, "You have a story to tell. And you did this on a teacher's salary, which
people can really connect with. And they think that that can't be done." It began to click for me,
that I had something special to share. So in December, I
decided to be a coordinator, and I led my first class in January. And it's so inspirational to
me, because it challenges me in the best ways, and it helps
me be a part of something that's life changing. People are motivated and want
to change their family tree, and I'm just so blessed that
I get to be a part of that. – Thanks, Elizabeth.
Thanks for being here. – Thank you for having me. – Yes, your story's so great. I love it, because not only did
you do the impossible, what some people would say,
which is pay off $40,000 in 14 months. But you
overcame some myths and lies that our society believes about money. So, first and foremost, $40,000— – [Elizabeth] Yeah. – in 14 months. Okay, how did you do that? – I became gazelle intense— – [Rachel] Yes. – to use your dad's words. – I love that. – I just, worked really hard. – So, you're pretty
vocal about your journey, like, you told people. – Yes, yes. – What do most people think about it? – They thought I was crazy. Especially since it
was student loan debt. A lot of people would say,
"You know that they'll forgive that, right?" or "After so
many years, it'll be gone. You don't have to worry about it. Why are you wasting your money, now?" And I'm like, I don't want to live that way, I don't want to be indebted to someone else. – Yes, that's so good,
because that's a great point, that you brought up is—there
really is this myth out there, of people believing that
student loans, they'll just be forgiven one day, don't worry about it. And so, you fell into
that some, you feel like? – Yes, what they don't tell you when you sign the paper
for your student loans, is that the loan forgiveness
is very difficult to get. – Yes, it's beyond rare
for that to be a reality. So the reality, for most
people, is that they're going to have this debt and, if
they don't do what you did, then they keep student loans
around, forever and ever, and stay in debt. But you got intense. You worked like crazy
amounts. Because how many jobs did you get? – I had like eight jobs, at one point. – That's unbelievable. Tell
me what some of them were. I'm just curious, what'd you do? – Yeah, I worked at a bakery, part-time. Babysitting became my jam. I babysat all the time. I do calligraphy, so I
would write on chalkboards and address envelopes for people. And I just tried to use any
talent that I knew I had in my back pocket to help
me make some extra money, on top of teaching full-time. – And you did it, yes. That's incredible. So, then you became debt-free
and then became passionate about this message of living debt-free, and living intentionally,
and the Baby Steps, and all that's taught in
Financial Peace University. And, with the class,
there's always a coordinator that helps facilitate the discussion. And you became a Financial
Peace University coordinator. So, you taught a class. How'd it go? – It was so great. We had an amazing group of
people and great attendance they really stuck with it. It was transformational. – Were there a few
people in the class that you loved their story
and you were like, wow. Like the transformation
they made was unbelievable? – Yeah, there was one
couple who made $120,000 total, so they had a good amount of money, but they were so in debt. – Isn't that amazing? – Yes. – I mean, seriously, though. A lot of people really believe, "If I just had more
money, I could do this." I'm like, no, if you don't
have good money habits, the more money you have, the
bigger the mess is going to be. – Right. – And so, just because
you're making a huge income, you could have a big
mess, which is this family. That is always
so interesting to me. So keep going, sorry. – Oh, you're fine. So, they paid off $15,000 of
debt, just in the two months that they were in my course,
so I was so proud of them. And now they want to be
coordinators and help share their success and help people, so. – That's amazing. That's so great. So, what made you want to do this? Because not only is going
to the class, somewhat a commitment. You go nine
weeks and you're with a group. But when you say, "Hey, I'm
going to go and do it again, and actually facilitate."
It must have obviously changed your life for you to do that. So what was the why for you? – The course transformed my life so much. And I'm just so thankful
that I took Financial Peace in that moment in my life,
that I can't keep quiet about it. I want to tell everyone
about what this course can do for you. No one taught me,
growing up, how to budget, and how to save, and how to invest. And so, now that I have that knowledge, I just want to tell everyone I can. That's my why. – Yeah, it's so good. It's so good. Because so many of you
watching are thinking, "Oh my gosh, we have so
much debt, we don't budget," and all of this, so going
through Financial Peace University, just as a member is huge. But people may be watching
this and thinking, "Okay, I'm doing this. Maybe
I'm on the other side," like you are. Would you say that you have
to be super financially smart and that you have to have all the answers? Because some people could
be intimidated by it. – Right, I would definitely
say I was in that boat before I got started
with being a coordinator. I thought I didn't' know enough about investing and real estate
and all of the Baby Steps, past Baby Step three, basically. But, my coordinator
from when I went through Financial Peace, really encouraged me and met with me and talked to me about how to be relatable and share my story. And that was what was
going to connect with people. And if I didn't know the answers, I could reach out to
someone and they would help me figure out the answers. – So good. Well, seriously, I know from
our seat, our perspective, at Ramsey Solutions, we always say the radio show can only reach so far. Only so many people
know about the podcast. Only so many people watch the shows or go to the events. But
it's the coordinators that are in their cities, in their towns, all over America, thousands and thousands of you all, sitting down with
people on a Tuesday night or a Wednesday night or a Sunday night and have this group.
Really it becomes a family, in this class and completely
transforming their lives and you spearheaded that, for you guys. So I so appreciate it, seriously. You're like in the trenches,
boots on the ground, helping spread the message. It's spreading the
message of hope, you guys. It's what we want—for you
to take control of your money. And so, I so appreciate it and I'm so glad it was a great experience for you. – Thank you. – So, if you guys want to coordinate a Financial Peace University
class, just like Elizabeth, make sure to click the
link in the show notes. And, coming up next, Chris
Hogan is going to come on and we're going to talk about how
you can become a millionaire. (upbeat pop music) (shifter clicks)
(door knocks) (latch clicks) Guys, let's be real—being
a parent is hard work. Now that I have two daughters of my own, it feels like the to-do list never ends. And, as every parent knows,
your priorities change and you have to make important decisions for your child's future. – That's why term life
insurance is a must, for every parent. It's so easy to get and it's affordable. What you're looking for is 10 to 12 times your annual income, to make sure everyone in your family is taken care of. Winston and I use Zander Insurance. They do all of the work for you to find the best prices and options, so go to Zander.com to get
started on a quote today. Because that's who we trust
to take care of our family. (easy pop music) – Hogan, you're back. – I am back and I'm
excited to be with you. – I'm so glad. Okay, so I can't wait to dive in, because people believe the lie that you just can't become
a millionaire today. But it's a lie, people. It's a lie. So, let's go through, really quickly, the top three lies people believe, and I want you to hit me with the truth. – Okay. All right. – I mean, don't really hit me. – No, I would never do that. – That would hurt. – No, I wouldn't do that. But, I'm going to tell you the truth. – Yes, do. – Because, you're right. There
are some lies out there, so. – Yes. – You lead. – First lie is: A lot of people believe, to become a millionaire, you
have to inherit your money, or that millionaires, they've
only become millionaires because they inherited a bunch of money. – Rachel, people actually believe this. And you know why? It's easy for people to believe that, hey, someone just handed it to them. Nobody really worked hard themselves. So here's the fact: We studied over 10,000 millionaire's
all across the country. We did the largest study
that's ever been done. We found out the truth. According to our research,
79% of the millionaires didn't inherit a dime. – Nothing. – Nothing. That means, that they didn't
have it handed to them. This was someone that actually worked hard and built up wealth over time. So, inheritance? No. – Okay, another lie is: People say, well, I have to make a ton of money. I've got to make at least six figures in order to become a millionaire. – Rachel, this is another
myth. It's not true. According to our research we had a third of the millionaires that we studied, never had a six-figure household income. Can I tell you something else? – Oh, bring it on.
– Top three positions. Top three positions of the
millionaires that we studied. Number one was engineers,
which isn't surprising— they plan stuff. Number two was accountants. That doesn't surprise.
– Makes sense, sure. – They know money. Number three blew me away. Number three was school teachers. – Okay, I love that you mentioned that, because we actually just
had Elizabeth on the show. She's a teacher. She's on Baby Step six. So she's working her
way there, and she will. She will become a millionaire— – She will, Rachel. – which I love. – Because she's attacking
with Baby Step six, she's going to pay off the house. And then she's got that value, plus the money she's
putting into her 403b. She's well on her way, because debt's not stealing from her anymore. She's being intentional. – That's right. Okay, so there's a lot
of interesting things you guys found out in the survey. Things like typical
millionaires, they coupon, they drive used cars,
all these cool things. But I want to know the real tactical stuff. To truly have a net worth
of $1,000,000 or more, there's really three big
things that you have to do. Yes, all these other
things help, for sure. But one of them is, when you start to win, to keep your lifestyle still at a minimum. That you don't go crazy,
spending a bunch of money. No, these people—these
everyday millionaires, I call them, because they're
everyday men and women— you wouldn't know it,
Rachel, when you met them. They knew what allowed them
to get to that $1,000,000 net worth—being intentional
with their money, being very focused. And
yeah, they have nice things, but they save up and they pay cash for it. – It's so good. So even
upping their lifestyle, just a very small percentage,
they don't go crazy. – That's right.
– I love that. Okay, another thing, to get
you there, is investing. – Rachel, you know this
is the truth, right? Can I tell you this? 80% of the millionaires we studied said the number one thing that caused them to build their $1,000,000 net worth was one thing: employer
sponsored retirement plans. And one more thing: 68% of
the millionaires we studied used an investment professional. That means they had someone
to guide them along the way. That's why you and I talk
about the SmartVestor Pros. You don't want to do this alone, right? If you've got car trouble,
you go see a mechanic. If you've got a health
issue, you go see a doctor. We're talking about your
dreams and your future. You need to talk to an
investment professional. – So good, you guys. I mean, seriously, when you're investing, your money is working for you. But I want you out of debt,
to have your emergency fund in place and start down that path. – Yes. – Okay, the other big thing
is paying off your house. A lot of millionaires say
they got a lot of their net worth by paying off their house. – Yeah. This is the last big step. You and I know this, being plugged in with Financial Peace University. When you become 100%
debt-free, and now that mortgage payment isn't
leaving you anymore, that mortgage payment is there
to do more for your family or to help you catch up
for your retirement dreams. But, this is a big deal. So much so, that I developed a free tool. It's a net worth
calculator, at my website chrishogan360.com to
help people understand what is your net worth right now? And I want to explain it to your viewers. So, to get to net worth, what you take is all that you own—that's
in your bank account, your 401k, your IRAs—add all that up and subtract out anything you owe on. So, what you own minus what you owe. If that end number is $1,000,000 or more, then congratulations, you're
an everyday millionaire. – You're a millionaire. – That's right. – And the great thing
is, we talked about it earlier in the episode, but it's so true, is that this is possible. Society is going to tell you,
no, unless you're famous, or you have a rich family, there's no way you can become a millionaire. You can—anyone can—and your
book is to prove it, right? – [Chris] It does prove it, yeah. – [Rachel] The "Everyday Millionaires." – That's what got me
started down this path. The American dream is alive and available. What we have to do is make a
decision that we're going to do it and you have to keep deciding, every day. – So good, you guys. You can do the impossible.
It's possible for you. – It is possible. – Okay, if your curious about this book, because it is so good,
you could actually read the first two chapters,
completely for free. Just click the link below. – Are you giving away my stuff? – Just a little bit, you know. Just a giver. I'm a giver, on the show. – You are a giver. – It's called The Rachel Cruze Show. – Yeah, you are kind of in charge. – Welcome, welcome. (laughing) – You're kind of the boss. You're small, but you're the boss. – I'm bossy, sometimes, yes. – So much so. – Hogan, thanks for coming on. – Thank you, for having me. – Seriously, great information.
– Good to see you. Thank you, ma'am. – All right guys, thanks
for tuning in today. I loved this episode, because
there's so much truth in it. And so I hope you feel
encouraged, because you guys can do this. Thanks again, to Chris
Hogan for coming on, and Elizabeth for sharing her story. So to get everything we
talked about in this episode, make sure to click the
link in the show notes. And if you've not subscribed
to my podcast yet, make sure you do that,
because there's always some fun bonus material there. And, as always, for you
all, be sure to take control of your money and create a life you love. – Rachel Cruz. – What do you think, Chris Hogan? – I have no idea. – I think it's just really great. – It is hilarious. – Be a millionaire, Hogan. – You can become a everyday millionaire. (laughs) – All you have to do is invest. (both laughing) – No more. – That's so good. – That was hilarious.

How to Save Money + Make Money at the same time!

**How to Save Money + Make Money at the same time!**



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What if we told you how you can save money, and make money at the same time? You could make twice as much as a savings account can give you, you can take the money back at any time, and there’s no hidden fees!

What’s the secret? Fixed Deposits! You probably have your money in a savings account right now. But FDs can earn you double the money.

Your savings account is probably earning you about 4-5% in interest a year. An FD on the other hand, will earn you approximately 7- 8.5%. So, hypothetically, 1 lakh in the bank could earn you 4000 bucks in a savings account, but 8500 bucks in an FD. Quick question. Which is higher?

Not only does an FD earn you almost twice as much, if you need cash you can break your FD within a day. You might lose a bit of interest, but no other investment option gives you that kind of liquidity.

Finally, You don’t pay any additional fees. There’s no brokerage, there’s no commissions, there aren’t even any maintenance costs. Like your uncomfortable flight seats, FDs are economical.

So let’s just make a quick list: higher returns, cash flexibility and no fees.

You’ve literally just got to relax and let your money do its thing. And once you have enough money saved, you can make the most of the BankBazaar Maha March Sale on all products! We’re talking India’s FIRST finance extravaganza :
oh hello so you want to know how to save money but what if we told you a way that you can save money and make money at the same time you can make twice as much as a savings account can give you you can take the money back at any time and there's no hidden fees what is the secret it's our topic on today's edition of fix deposits you probably have your money in a savings account right now but a fixed deposit can earn you twice the money Sorelli like my broken camera empties just have an image problem maybe they don't sound like something you should have because they're not exciting maybe of parents have them but not you I mean you don't see lottery winners going like I'll invest my savings in a nice safe ft thank you you just don't see that what do you know let's talk some people and find out so I'm asking people about money tell me would you consider yourself good with money I'm good at planning how I spend I guess I don't save much but I plan how I spend like what's your plan usually my plan is dictated to me by by an app on my phone good a spending not saving like money when I'm only good with do you know how to spend it at least yep I end up spending your money on travel and food is like good it sounds like a great idea for a TV channel so no travel to office and eating in office she how does an app determine how you spend your money it gives me an an estimate of how much I spend in a week so I know how much I should how much I should is there something where you spend your money and then the next day you like mom and I should have done that yeah well that's a sale what they call a sale spend shitload of money there that happens a lot suppose you won the lottery tomorrow what is the first thing you would do with that money oh I'll go up god I don't want to make it public that I have so much money I'll be like hey cool from tax oh my god that's the first thing you think I would have blow it up I'm gonna do what wall divided I'm gonna spar eat in my house so the income tax people do not know about oh you're goddamn right for an 18 year old you have very bad role models what do you think of when I say cool ice-cool oh my god I've been asking people what cool is but let me show you what cool is how do you put your money in fixed deposits Who am I kidding fixed deposits probably put their money with Raja I'm gonna go back downstairs so do you know about fixed deposits I thought of them but it's giving all my money one time so that makes me sad you give all your money you can put however much you want but do you know how they work so you basically for a sum of money in the account and you just leave it there for like a period of time and then it matures and it becomes like a lump sum and you get it suppose you want to take money back from the fixed deposit can you do that no this is called fixed but actually if you wanted the money back you could get it back pretty soon yes how long six months yo one B one day yeah I asked for the money I fill out a piece of paper and they give me so does all of this make fix deposit sound cool too you know yes yeah it helps you make more money see fix deposits get a bad rep but they're actually pretty badass you're three reasons why number one your savings account is probably earning you four to five percent in interest in your but a fixed deposit can get you seven to eight point five percent so hypothetically one lakh in the bank will get you four thousand bucks in a savings account but eight thousand five hundred and fixed deposit quick question which is higher do the math number two not only does a fixed deposit give you almost twice as much if you need cash you can break it within it be so it's like a childhood piggy bank in a lot of ways except that it's not made of ceramic and the money multiplies so you might lose a little bit of interest if you break an FP but no other investment option gives you that kind of liquidity number three there are no additional costs there's no brokerage there are no commissions there aren't even any maintenance costs so like you're uncomfortable flight seats fixed deposits are economical so let's just make a quick list higher returns cash flexibility and no fees you literally just have to sit back and let your money to the work and once you have enough money saved you can take advantage of the bank Mazar Mohamed Salem's all products we're talking India's first financial extravaganza watch me as I do just that go on you do it ring we do so much for you we give you all these money-saving tips like today where I'm sure you've gone away with something that you've learned from this video that is going to help you a lot in the future so one cue help us out like share and comment on this video and make sure to subscribe to bangles are calm for more tips for now and forevermore

Meet Jordan Page from FunCheapOrFree.com!

**Meet Jordan Page from FunCheapOrFree.com!**



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Jordan Page is a blogger, family finance and frugal living expert, entrepreneur, and mom of 6 kids 8 and under. Her simple, effective, and FUN budgeting and frugal living techniques have helped hundreds of thousands of families all over the globe completely revamp their finances, get out of debt, stop fighting about money, and find room in their budgets for the fun things in life. Her wildly popular budgeting program can be found at (use the code YOUTUBE for 10% off).
She is a Utah transplant, wife to Bubba, kitchen dance party enthusiast, and lover of anything sparkly. See more at FunCheapOrFree.com.

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About me:
I’m a blogger at I have 5 kids 6 and under, live in Utah, and love talking about lifestyle, frugal living, and parenting! What would you like me to do a video on next? Leave a comment in my video and let me know!

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meet the so called queen of frugal hi I'm Jordan page I'm the mother of four and I'm an everyday finance and civil living expert and one hundred and twenty five dollars is much easier to track than five hundred dollars over 30 or 31 days so we started making popsicles basically we would take an ice mold or even just his bowl it went delicious make a mess in the process looking he's freaking out already so if you just frame your shopping your grocery shopping around the deals on the front page and the back page you can save half on your groceries just by doing that alone my favorite lipstick was a dollar at the dollar store so guess what combination of the two killer deal walk through your house and find something you can sell my husband sold his old calculator from high school for $50 on I'm serious fifty bucks there's always something you can sell it's a yard sale okay you're not like negotiating for a house it's a yard sale so but they who's baking pies my hands on it okay do you have the clarinet that you're not made you play back in sixth grade and salute no Anna put me to high five for the flute it was an awkward moment in my life what's with Krispy Kreme how am I gonna deal in Krispy Kreme can you sit now then let's be honest it's the hot dog we all love the hot dog oh they're everywhere they're so easy and they're great cause you get him instantly I feel like I'm walking proof that it's possible you