“Finance isn’t everyone’s cup of tea, and who knows if it’s even tea…but whatever it is, you have to gulp it.”It would be an understatement if I said my father was dramatic about money. Growing up, my mornings were filled with stock market predictions, and investment news would blare through the house as I rushed my breakfast.
One would think that seeing money and investment-related news every morning would make me super-eloquent in managing my investments. But all it did was overwhelm me with words and systems I didn’t understand and was confused to clarify.
I fall in with those 70% of Indians who are unsure about how they can achieve financial freedom. Less than 2% of Indians invest in the stock market, and around 10% have begun their mutual fund investment journey.
There’s a lot of beating around the bush we can do here - Indians work on a scarcity mindset, Indians aren’t open to investing, but the bottom line is that financial literacy in India is nearly nonexistent. Simplifying finance isn’t all that simple - everyone at Fi can vouch for this. It isn’t simple, but it’s essential. We’ve been working on ways to make people’s financial journey simple and fruitful for a while now. While saving has been a core focus of FI, finance is a longer game than just that.
The new mutual fund investment features on Fi are here to simplify and make users jump to the next step in their financial growth. Investing can be a pretty demanding journey. Here’s how Fi is simplifying it -
KISS is probably the only jargon we’ve taken into consideration. Investing comes with systems and jargons that take constant research to understand. Simplifying language goes a long way in reducing the gap between people who invest and those who don’t.
As the first step to this, we’ve simplified jargons of various mutual fund terms with bite-sized explainers. What happens when you start calling ELSS funds ‘Tax Saver’ funds? Your users know exactly what an ELSS fund does by its name. What’s in a name? Well, quite a lot!
Here’s the thing - most mutual fund platforms focus on mutual funds through NAV. Net Asset Value is essential but isn’t the only factor to keep in mind when you invest. Breaking down the funds across parameters of category and asset was done to help users see the broader picture of a fund than just NAV.
What’s better? All the information you would need to start investing in a fund is found on one screen for you to gawk over. Let’s dive a little deeper.
What do investors look for before putting their money in a fund? Category, risk, projected returns, lock-in periods, and sector, to name a few. What happens when all the research you need to do to familiarize yourself with a fund is on your screen? What if it’s all simplified? Well, it just increases your chances of finally starting your investment journey.
The inertia by being equipped with the right information about investment options. And well, if reaching to the point of figuring out what information it is that you seek is too much as well, we’ve got you covered!
Ever been in a place where you know what you want but don’t really know what you want? It’s a gruelling little loop that can either lead to making an impulsive decision or not making a decision at all. We don’t know about everything else, but we can reduce this paralysis for you when it comes to investing.
To start with, we've got filters to help you through it all -
And if you thought that’s all of it, it only gets better. With Fi you can tap into curated collections of mutual funds. You can be a risk-taking beginner or a cautious connoisseur, with collections you can start your journey by just having a fair idea of your goal.
Now that you can find exactly what you’re looking for, there’s no excuse to not invest. It’s 2022, and we’ve had so many conversations about human behaviour that not knowing how habits are formed and how they sustain is the equivalent of living under a rock. The anxiety of separating from your money on a regular basis is a difficult one to get over. One way to reduce it is to shift perspectives.
When you create a FIT rule for investing in SIPs, your lens is focused on the rule rather than the investment. Moreover, automated FIT rules also mean that you don’t have to remember about investing every single month. And well, if you don’t want a chunk of money leaving your account on your payday, you can automate your fit rules for smaller SIPs over the week or two weeks.
Gone are the days where you scratched your head and consulted middlemen to sort out your portfolio. With accessible investing all around you, you can experiment with smaller amounts at ease to figure out what kind of investing works best for you. Whatever you do next, with Fi you’ll be running out of excuses to step up your investment game.
And who knows? Maybe finance will become your cup of tea sooner than you thought.