Moneylife Foundation held an interactive seminar in the sprawling township of Magarpatta City, Pune. The sprawling township of Magarpatta City in Pune was the venue of Moneylife Foundation’s first few steps outside Mumbai city, as it conducted an interactive workshop on finance titled ‘How to be safe and smart with money.’ On the occasion of Independence Day, hundreds of eager residents of the township descended upon the venue to listen to acclaimed journalists and founder-trustees of the Moneylife Foundation, Ms Sucheta Dalal and Mr.Debashis Basu, share their views on a wide range of topics of relevance to investors.
As a step towards carrying this torch of financial literacy to the rest of the country, Moneylife Foundation held this interactive seminar. Mr. Debashis Basu, Editor of Moneylife and Ms Sucheta Dalal, Managing Editor of Moneylife held an interactive working session on finance titled ‘How to be safe and smart with money’. Ms Dalal spoke on how to avoid losses by staying away from certain kinds of investments like chain marketing and pyramid schemes. She explained how these scamsters operate and advised investors to stay away from such frauds. She also spoke about the implications of credit card transactions and the implications of default and its impact on an individual’s credit history and ability to borrow. Mr. Basu told people that investment does not have to be difficult and complicated if one was clear about the basic objectives, avoided obvious pitfalls and followed a sensible and consistent investment policy. “Many a times, investors are lured by fast and big returns and opt out for short-term investment. To avoid such risks, investors should think about the long term and fix goals accordingly,” said Mr. Basu. He showed how one could keep things simple, avoid complications and make steady returns without becoming an expert on markets.
The event saw healthy participation from the participants as several members of the audience shared their experiences and had their queries answered by the presenters.