MILLESIMAL
E-MAGAZINE
VOL. 02 | JULY 2021
FINANCIAL FREEDOM How to make the most of your financess early in your career
TIME MANAGEMENT
Importance of time management in life CUPCAKERY: START-UP
Start-up story
01 Editor's Note Sejal Aggarwal Hi, I am The Visionary behind Millesimal Magazine, I have always had love for writing and creating content and my interest in Journalism intrigued me to build this Magazine. Millesimal, is a Digital Magazine that I designed to represent the “Millennial Mindset.” My content is positioned to reflect the core characteristics of how we define millennials: globally connected, entrepreneurially spirited, socially conscious, ecofriendly, and experience-driven.
CONTENTS 01. FINANCIAL FREEDOM: PAGE 4-7 02. CUPCAKERY START-UP: PAGE 8 -9 03. TIME MANAGEMENT: PAGE 10-12
HOW TO MAKE THE MOST OF YOUR FINANCES EARLY IN YOUR CAREER By: ANUGRAH PACHORI
For those who have just started their exciting professional life, the time to secure your financial future is now. To ensure you can provide for yourself for years to come, your initial years are a critical period to develop emergency funds and save for an early retirement. With the gradual reopening/unlocking of the economy, households switched from an ‘essentials only’ spending pattern to discretionary spending. Here are my suggestions for you when trying to figure out what to do with that extra savings. MILLESIMAL| Page 4
INSURANCE Health care is one of the biggest expenses. An unexpected medical bill from a fall or serious diagnosis has to be paid one way or another. If you haven’t factored this into your budget, you could run the risk of running out of money by withdrawing too much from your retirement funds or long term savings account. A health insurance will refund that money spent on medical bills to a large extent and will not burn a hole in your pockets or dreams.
Emergency Fund As the pandemic has shown us, we never know what the future holds. No matter your age or financial situation, an emergency fund is crucial to your financial security. This is a money set aside that can be used at any time to pay for the unexpected, such as missing a paycheck, getting laid off or an emergency medical bill. Your emergency fund should have enough cash to cover six months of expenses. If your emergency fund falls short or is nonexistent, start by looking at your budget and finding areas to cut. Put 10% aside each month. It may seem easiest to put the money into a savings account you already have open, but instead, open a separate account dedicated solely to your emergency fund. That way it has a purpose and is used only in case of emergency. MILLESIMAL| Page 5
Emergencies are notorious for bankrupting people within a short time. You can’t control when an emergency happens, but you can ensure that you have a well-padded emergency fund at the ready. A secure liquid emergency account is an excellent fallback plan for illness, natural disasters, home repairs, etc. Become Debt Free Especially during times of economic uncertainty, managing your debt should be a top priority. It is important for millennials to understand the difference between good and bad credit. Credit cards are healthy if the spending is below the actual monthly income and if the payments are timely. It can be easily turned into a bad credit when there is overspending and you have to live paycheck to paycheck to pay off the credit leaving no savings aside. Avoid high interest credits and rather increase your savings. Credit cards are good for emergencies and good when you are disciplined. But if you are having trouble with credit, pay it off completely and take help from your financial advisor.
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Financial Freedom The best thing money can buy for you is not a vacation home or a sports car. It is the freedom to wake up any day and do what you love the most, with people you love the most, at places you love the most, without worrying another day to meet your expenses or going to work. It’s the essence of financial freedom. How to get started: Invest early and often. Starting early will allow you to experience the benefit of compound interest. This is the “snowball effect,” where interest is earned on money previously earned as interest. When you invest early and often, you can fully realize the benefits over the long run. Further steps: Open a brokerage account. Invest some of your savings and leave a little remaining on the sidelines in the event of a market sell-off. Index funds are a good way to get started. Conclusion If you have your emergency fund in place, your investments in place, and you do not have any debt sucking your money, then you have only some time left before you reach the precious milestone of financial freedom. Remember, without discipline, it is all a dream. Enjoy the process, do what you love! Feel free to connect with the writer: ANUGRAH PACHORI
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CUPCAKERY: A START-UP STORY By: SHRUTI SOLANKI
Oh hey , hi , hello! It's me the baker behind Cupcakery. My name is Shruti Solanki . I'm 23 years old and a graduate. I'm a self taught home baker in Jaipur. Fearlessly and relentlessly true to myself and Obsessed with sweets
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I started cupcakerybyshruti with a little bit of hope and a whole lot of encouragement from my sister. Lockdown was a turning point in my life where in the middle of all the chaos and uncertainty I found comfort in baking. It all began when I started missing indulging in my sweet tooth and started baking as a hobby. After that everything kind of snowballed. It has my utmost attention and has become my priority in my life. I celebrate LIFE! That’s my job here at cupcakery. It never occurred to me like that before, how amazing is that! I get to help celebrate the small things, big celebrations, promotions, special occasions, the thankyou’s , the I love you’s and the just becauses! Making people happy with sweets makes my soul happy and looking at my final product is so rewarding each time and I can’t wait to explore new horizons. To place an order follow: cupcakerybyshruti
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IMPORTANCE OF TIME MANAGEMENT IN TODAY'S LIFE By: Sejal Aggarwal
No matter how you slice it, there are only 24 hours in a day. Time is a finite resource, and it’s up to you to make the most of it. If you lose money, you might get a chance to make it back; but a wasted hour is irreplaceable. While we can’t add hours to our day, I can help you understand the importance of time management, and how time management helps you maximize the time you do have. This isn’t just a skill for entrepreneurs to master. Everyone could benefit from managing their time more effectively and appreciating it for the finite resource that it is.
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Do More with Less Knowing how to manage your time means that you’ll be able to accomplish more in shorter periods of time with less effort. Think about how much more you accomplish when you truly focus. End Indecisiveness Worrying about whether you have made the right choice can be time-consuming. Naturally, big decisions take up a lot of time but the small decisions you make every day can also be huge time-wasters. Deciding what to do next on your to-do list, for example, can have a major time cost. Make More Time to Do the Things You Love After you consider the amount of time that it takes for you to sleep, work, eat, commute and attend to your personal hygiene, you have about four hours per day to devote to the things you do for fun.
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Final Thoughts Time isn’t an infinite resource for us. By becoming excellent at time management, everyone can make the most of the time they are given. Failing to manage your time means a lot of time wasted and you can never get it back. Succeeding opens a world of possibilities. By sharpening your time management skills, you can expect to be more confident and effective at work. You will feel a strong sense of purpose when you produce your best work. You’ll also have more time to spend with your family, take care of your own health and wellness. Overall speaking, you’ll drastically improve your life!
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