‘Jo tera hain woh mera hain..': Twinkle Khanna and Kajol talk about managing finance in their households

Indian Express

11 hours ago

Twinkle Khanna's dry wit and humour and Kajol's infectious energy bounced off each other in an episode of The Icons by Tweak India. The two discussed all things acting, parenting, running a household, and staying fabulous. When the conversation shifted to money and managing finances, Twinkle asked the Dilwale actor who is in charge of the bills at her home.
Citing her example, she said: 'In my house, school and education I pay for, then I can tell them (my kids) that padhe likhe ho only because of me. So we all split things,' to which Kajol replied: 'Ajay and I are very clear about this: jo tera hain woh mera hain and jo mera hain woh bhi mera hain. And of course, bachhe toh mere hi hain. I think it's more about convenience, honestly; what works online is more me and offline is more him — so we separate it that way.'
Running a household and managing finances is no easy feat. With double-income households becoming more popular by the day, having a streamlined plan to budget and invest helps share the burden equally among partners, while setting up your future generations for success.
Mukesh Pandey, Director of Rupyaa Paisa, told indianexpress.com that financial discipline is key in running a household. According to him, it is the ability to make sound financial decisions, always be within budgets, and avoid impulsive spending so that all the while, one is steadily moving toward set goals. 'Practicing financial discipline is not coming up with ways to save money but creating certain habits that consolidate one's position in terms of finance, increase it, or keep that person secure,' he said.
When managing money, Pandey suggested keeping these tips in mind to run your household:
Set goals: Setting short—or long-term goals gives you direction for your financial decisions. For example, if an emergency fund needs to be built, loans need to be repaid, or money needs to be set aside for retirement, each rupee earned or spent will have a definition and purpose when clearly articulated goals are stated.
– Fix a budget: The backbone of financial discipline is budgeting. It portrays how money flows into and out of the house, showing how unnecessary expenditures can starve essentials such as those for education. Budgeting apps or spreadsheets can give greater visibility and control over a budget.
Delay gratification: Financially disciplined people will delay gratification and evaluate the real necessity and future impact before buying that non-essential item.
– Automate savings and investment: Automated savings and investments have helped keep that streak of financial consistency while reducing the temptation to divert excess funds into discretionary spending. Systematic Investment Plans (SIPs), recurring deposit facilities, and auto debits for savings accounts are some tools that are available as effective means.
–Monitoring and regular reviewing: Discipline is not a one-time act- it demands persistent commitment. Regular reviews of the progress of your financial plan allow its reference to other changes in income, new goals that have been set, or even economic conditions. It strengthens accountability and preparedness.
Pandey added that having a basic understanding of key financial instruments like Fixed Deposits, Mutual Funds, Public Provident Fund (PPF), Health & Life Insurance, National Pension Scheme (NPS), Share Investment Plans (SIP) will allow you to keep some control of your financial journey and decisions, rather than follow them.