Meet Meenakshi Sundareswaran Ravichandran, a 1% club member since October 2023 and a business owner of Dovel Enterprise. 

He is an active 1% community member, leads a student’s club, is building his business and also carrying out his role as a Software Developer effortlessly. 

One might think he started really early in life and got the needed resources. Well that’s not the reality. 

In the interview he said, “My family was struggling with money when I was in school. There was no such thing as money management or savings. Even going to school was like a big thing for my family. ”

Fast forward to today, he is the one empowering people to take care of their finances. Not only that he is also aiming to make a business turnover of Rs 2 crore by 2026. 

Read on further to know what decisions changed his life so much. Edited Excerpts

Please tell us a little bit about your career journey.

I wasn’t good at studies during my school days. And my family was also not financially stable. To add more to the issue– My dad met with an accident when I was in 9th grade. After passing 10th standard, I took a Diploma course in Computer Science. I knew studying is the only way to sustain my family. 

In the first year, I decided to step up as it was my cousins who paid my course fees i.e. Rs 6,000. I learnt about the right approach to study. This helped me to become a topper in 2nd and 3rd year. 

Along with studies, I was also doing part time jobs like catering and more to support other expenses.

The next step was to decide whether to take a job or continue studying. I knew the salary after diploma will only be Rs 10,000 or Rs 12,000 so I chose to do engineering. 

I got into Annamalai University and did my Bachelor’s in Computer Engineering. 

How has your decision to study further helped you?

When I was in Annamalai University, I learnt about Community Building. I used to manage a Student’s Club of around 600 students. I enhanced the existing Placement and Training cell. And took part in Department fundraisers and community events. 

It was a great experience. I learnt about problem solving, got better at communication, developed leadership skills and made a huge network. 

When did you start investing?

When I returned home after Bachelors, I knew it was time to take over the money matters. Also my dad was still recovering so we moved to a new place to fasten the process.

Luckily, I got a job at Amazecodes Solutions and they offered me WFH flexibility. When I started getting my salary, I noticed that my money is being credited and then there’s an outflow but there’s no savings happening.

My job is to provide tech education so that students could earn money by themselves. So for five days of class in February 2023, I received around Rs 36,000. And I didn’t know how to manage it.

I used to follow Finance With Sharan during my college days so when the masterclass was announced I registered for it. And immediately joined the 1% Club. That’s when my financial journey began.

Are you still freelancing with the company?

Yes, I am. I currently make Rs 2500 per hour. I dedicate 8 hrs to this job. And due to this job I went to several states for different projects and I learnt a lot. 

So I went from making Rs 7000 per day to Rs 20,000 per day. But I didn’t stop here!

What was your next plan?

I started my company, Dovel Enterprise. I started in 2020 but didn’t focus much. It was only from August 2024 that I started putting efforts to build it up. And my turnover goal for this year was Rs 30 lakh. And I already have a project of Rs 20 lakh with me. 

And I also run a community for freelancers. This community aims to provide freelancers with insights that will help them make money.

What were your major learnings from 1% Club?

I learnt a lot but the main things were

We should have another source of income. 

I learnt about diversification of  income

I learned about emergency fund , mutual funds, gold ETF

Please share your portfolio details.

Before joining I had invested in an ETF but after joining the club I started diversification. My current asset allocation is

1. 40% in stocks 

2. 20% in gold ETF 

3. 40% in MF

I also have a 4 months emergency fund. 

Within a year I got 23.00% returns. 

How else has joining the club helped you?

Last year my TDS was around Rs 4500 but this year it was a big amount as my salary is also high. So I went back to the tax videos on the app. I saved around Rs 50,000 rupees on taxes as well. 

If I have to state the order. It’s like after joining, I first took care of the Emergency fund, then term insurance, then health insurance, and investments.

Any financial achievement you would like to share?

Yes. After education it was really difficult to build a decent home for my family. Although, we thought of it many times but with my salary it was difficult.. Last year, I finally made up my mind to build it with my savings and father’s help. 

By the end of this year, we’ll have a new home but with my dad gone…we’ll miss him.

Any other goals you are working towards?

My goal is to make a turnover of Rs 2 crore by 2026 from my business. And my personal goal is to empower more and more students with skills that will help them make them earn money. The child in me dreams to have a space lifestyle like Ben 10 😅

Also Read: This Tamil Nadu Software Developer Aims for FIRE!

How does it feel to be a part of a finance community?

The community is always active. Both new and old members are always interacting & answering questions. 

Once I also had a chance to ask a question to Sharan at an event. I asked him about how to manage payments. After a year, in the second meetup I was also able to share my company’s progress with Sharan again.

I know many 1% Club members and also the team. It is nice to have a chance to learn from experts and also help beginners who are just starting out.

What value has this journey added to your life?

This journey has been a game changer for me in so many ways. First, it’s helped me expand my professional network, connecting me with people who push me to grow. I’ve also gained a lot more confidence in handling my personal finances and investments, which I didn’t have before. Being part of the 1% community gave me valuable insights into diversifying income streams, mutual funds, and digital gold ETFs, and it even taught me how to manage my taxes better.

Another huge part of this experience has been the leadership and communication skills I’ve developed. By sharing my journey and helping others just starting out, I’ve really honed those skills. On a personal level, it’s made me more resilient and focused, which has been key not only in hitting my financial goals but also in growing my business. My next big milestone is building a strong portfolio, and I’m confident that with the steps I’ve taken so far, I’ll achieve it.

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