Kailash Munipella, 44, feels he is in a much better place financially after he began consulting a financial planner, because he now has a more structured and disciplined approach to managing money—something that was missing in his early work years. “In the first decade of my working life, my financial life was all over the place. Most of my money was in the bank account and at the end of the year I would buy life insurance mindlessly to save taxes,” said Kailash. But an MBA degree at the age of 32, from the Indian School of Business, made him realise he had to change this approach. “The course helped me realise the universe of financial products but it was also my peers that made me introspect on how I had been handling my money,” he said. Kailash had been married for 3 years when he took a large education loan for his MBA and it hit him that if he had been more disciplined, loan would have looked much smaller. “Some of my batchmates paid for the course on their own and some with very little loan. That’s when I realised the importance of managing money well. It was about time for me too,” he added.
