Money Should Be A Partner, Not The Master

VISHAL KAPOOR, CEO, Bandhan AMC, shares what he did with his first pay cheque, how it became the first real lesson on managing finances, and how he realised later that starting to save early can set you up for life. He advises new professionals to enjoy their first pay cheque, but also start saving, even if it is a small amount, and be consistent about it

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Can you tell us about your first job, and how much was your first pay cheque?

After dabbling in a few small summer jobs during college, my first ‘official’ job with a pay cheque was as a management trainee at a leading conglomerate’s financial services division. If memory serves me right, my first monthly pay cheque was around ₹6,000.

One quickly learnt one of life’s inevitable realities like deductions and taxes, while reconciling the gap between the anticipated (gross) income with the (net) credit received. Also, what was true then and is probably true even today is how quickly money disappears!

Was it enough for your needs back then?

Is it ever? Even as bachelors living in a shared apartment, we often found ourselves running a mini credit cycle—borrowing from the neighbourhood kirana shop and then settling the dues once payday arrived. Financial planning, in its rawest form!

Do you remember doing anything special with your first pay cheque?

Yes, I offered my first salary to my parents. It was a simple but deeply fulfilling gesture—expressing gratitude for their unwavering support and everything they had done for me.

Do you have any regrets about how you should have spent your first pay cheque? Any advice for your younger self?