Meet BharatKumar Ramakrishnan, an Assistant Manager and 1% Club member since September 2023.

He thought he was set for life—good job, steady income, and a few investments here and there. After getting married to Nithya, a school teacher, they thought their dual incomes were enough for a comfortable future. But reality quickly proved otherwise. Despite both working, they found themselves struggling to save, with most of their earnings going toward household expenses.

Curious about how BharatKumar managed to turn things around? Keep reading as he shares how joining the 1% Club helped him rethink his financial plan and secure his family’s financial future. Edited Excerpts

When did you start to invest?

As my father was into finance, he had a few shares kept in my name when he was working. And as soon as I joined work, I started my investment journey. With my father’s help I started a few SIPs for me. 

After a few years I got married. Since we both were working we moved out.

Did you face any financial issues after moving out?

Yes, actually. After we moved out we felt the crunch. Both of us were working, but we were barely meeting the expenses of the family. 

My wife and I both thought something had to be done. I started realizing that my finances needed to be transformed. The process and how things are happening. 

So I started looking out for guidance online and I found Finance With Sharan.

Did you make any changes in your financial plan after joining the club?

So before, I would take random advice from others or ask elders who were already investing. After following Sharan, we realized that our requirements are different. I thought if I invested in mutual funds and if it’s giving returns then that is all. I didn’t know there were so many mutual fund categories.

So after joining I understood what needs to be looked at. After completing the modules, I modified some of my investments and allocated my assets according to the lessons learnt. Apart from this, even insurance was something I took care of. I had corporate insurance and had added my wife. After watching the videos I learned that if I stop working I would have no cover.

Based on insurance modules, I bought a family floater policy with a coverage of Rs 50 lakh.

What other changes did you make in your finances?

Not only health insurance but also car insurance. Normally when selecting a car insurance, we use to go online, enter the car model, year and date, and see, whichever cover is there and select it. 

After the sessions, I came to know that there are so many details we need to be clear of. Whether you are in tier one, tier two, tier three city and so on, the area, the car test, and all those things have to be considered. 

After those videos, we had an idea. Now I follow all the points taught in the modules. What needs to be done, or what needs to be looked at, and all those things. Accordingly, I choose a policy for my car.

Also, my father owns a car. And he was taking up whatever policy was available. 

After he watched those videos, he knew what to look for, what not to look for. This has really helped my dad too. 

Please share your asset allocation after joining the club. 

Invested in 16 different mutual funds and some direct Eq investment, invested some in SGB 

Now I am making 14.62% returns after proper diversification. And trying to achieve my fat FIRE.

Is your wife also learning from the modules?

Yes. My wife is a school teacher and she is more interested in stock market knowledge. So she watches Shashank’s Videos. With her coming into the picture, it become easier to manage our finances. So both of us discuss things. 

Initially there were no newspapers in the house. Now we have newspapers and finance journals too.

And we both have started teaching our son the value of money. 

Do you share your learnings with others?

Yes, definitely. I do help my colleagues who are close to me. I tell them what needs to be looked at. And educate them on insurance and tell them important things to look out for. 

I also suggested that they take personal health insurance and not rely only on the company. 

We as a group also share insightful reels. And hacks on how to use your credit cards. 

Do you use a Credit Card?

 Yes. A lot of my expenses are on credit cards only. I don’t deal directly in cash or e-cash as well. I like to collect points and then redeem them. When I travel, book hotels, and dine out. 

Once I saved a one-way flight ticket. So now we are collecting more points for another trip. 

Also Read: This Software Engineer Aims to Make Rs 2 Crore Turnover From His Business by 2026

How has the Credit Card module helped you?

Before the lessons, I was just collecting the points but didn’t know how to redeem them. But after going through the lesson, I redeemed it the right way.

Now I also encourage my father to use credit cards rather than using hard cash. After seeing how I was able to save on tickets, he also started using credit cards.

Recently he even redeemed his points. And went on a trip outside. It was like a surprise that came after his retirement.

What value has this journey added to your life?  

This journey in personal finance has helped me learn more about money and given me the power to make smart choices. Now that I’ve made a budget that fits our goals, I feel better about the future of my family. It has also given me more courage to save and invest, because I know I’m taking steps towards becoming financially independent.

Disclaimer: The above content is based on the information provided by BharatKumar Ramakrishnan. The 1% News doesn’t independently verify non-public data reported by interviewees.