Latest news with #Kaushik
Time of India
2 days ago
- Business
- Time of India
Rs 1 lakh salary, still broke? CA points out 7 financial blunders you might be making
You just got your salary. The message pops up — Salary credited. Feels good, right? But before you know it, half your paycheck's already gone: dinners, impulsive shopping, EMIs, subscriptions you forgot you had. And by the end of the month, you're wondering — Where did all my money go? If this sounds familiar, you're not alone. According to CA Nitin Kaushik , even people earning ₹50,000 to ₹1 lakh a month often feel broke — not because they don't earn enough, but because they fall into the same money traps again and again. He recently shared 7 classic financial blunders that most Indians make, along with smart ways to break the cycle. Explore courses from Top Institutes in Please select course: Select a Course Category 1. Spending before budgeting The biggest mistake? Spending first, budgeting later — or never. The CA gives an example where you earn Rs 50,000. You blow Rs 12,000 on weekend takeout and random online buys. By mid-month, you're scraping by. Instead, he says to flip the script and follow the 50-30-20 rule: - 50% on needs (like rent and bills) - 30% on wants (like Netflix or dinners) - 20% on savings and investments 2. No emergency funds Emergencies don't wait until you're 'ready.' According to Nitin Kaushik , a sudden Rs 15,000 hospital bill or job loss can throw your entire month into chaos. Start building an emergency fund now — even Rs 2,000/month can add up. Your goal: at least Rs 75,000 to Rs 1 lakh, parked safely in a liquid fund or fixed deposit. — Finance_Bareek (@Finance_Bareek) 3. Saving, but not investing Stashing Rs 20,000 in a savings account sounds responsible — until you realise it earns just 3% interest (that's Rs 600 a year). Instead, he suggests trying SIPs (Systematic Investment Plans). Investing Rs 5,000/month for 10 years with decent returns (12–14%) can grow to over Rs 11–13 lakhs. That's the power of compounding. 4. Lifestyle inflation Got a raise? Congrats — but the CA warns to not rushing to upgrade your phone, wardrobe, or car. This is where most people lose money. Your salary grows, but your expenses grow faster. He recommends trying this instead: keep your lifestyle steady for a year. Channel the 'extra' money into investments and let it grow. Live like you're still earning less — future-you will thank you. 5. Impulse shopping The CA further points out that ordering on apps like Zomato, Amazon, and Myntra means temptation is everywhere. Before you know it, you've spent Rs 5,000 on stuff you didn't need. Use the 24-hour rule: Add to cart. Wait 24 hours. Still want it? Buy it. If not, let it go. Your bank balance will look a lot healthier. 6. EMIs that trap you 'Rs 5,000 EMI? That's nothing!' But over a year, that's Rs 60,000+ of your salary gone. Kaushik suggests keeping EMIs under 15% of your net monthly income. And always ask yourself: 'Can I afford this if I lose my job tomorrow?' If the answer is no, rethink that purchase. 7. Not tracking your money The simplest fix? Know where every rupee goes. Most people don't track their spending, then wonder why their money disappears. Just 30 days of tracking (via a free app or even a Google Sheet) can completely change your money habits, he said. CA's final advice: Your salary is not just for spending. It's your launchpad. Your first investor. Your key to freedom. Whether you earn Rs 30,000 or Rs 1 lakh, the way you handle your money makes all the difference. Control it now — or spend years letting it control you.
Time of India
5 days ago
- Business
- Time of India
'Modern slavery' packaged as lifestyle 'upgrades'? How to break the consumer trap that makes you overspend, CA explains
In an age where new gadgets, apps, and trends constantly flood the market, the pressure to keep up is stronger than ever. Whether it's the latest smartphone, a new car, or premium subscriptions, people are often made to believe that frequent upgrades reflect progress. But this relentless cycle of spending may be more harmful than helpful. Chartered Accountant Nitin Kaushik recently shared insights on social media, questioning whether these so-called 'lifestyle upgrades' are actually a form of modern financial slavery. A Cycle of Spending Disguised as Progress Kaushik, a practicing CA, shared a post on X (formerly Twitter) highlighting how people unknowingly fall into a consumer loop that gradually drains their income. He argued that while these purchases are framed as improvements, they often serve to trap individuals in an endless cycle of financial commitment. From buying a new phone every two years to replacing a car within a decade, most expenses are not driven by need — but by habit. Explore courses from Top Institutes in Please select course: Select a Course Category Degree Finance Management CXO Data Analytics Artificial Intelligence Data Science Technology healthcare Design Thinking Others Leadership Digital Marketing MBA Public Policy others Operations Management Project Management Cybersecurity Product Management Data Science PGDM MCA Healthcare Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details He pointed out that even large assets like homes aren't spared. Residential redevelopment typically occurs every 20–25 years, with the financial burden often falling on the homeowner. Instead of providing security, such purchases become recurring expenses. — Finance_Bareek (@Finance_Bareek) Built to Expire, Designed to Replace Kaushik further explained that many products are intentionally built with short life cycles. Laptops are seen as outdated within three years, especially for users of premium brands. Mobile phones push out frequent updates and camera improvements, making older models seem obsolete — even if they still function well. The issue extends to software and digital services. Subscription-based apps often lure users in, only for interest to fade within weeks, even as recurring payments continue. On top of that, loan cycles reinforce the same pattern: once one loan is cleared, another is often taken, keeping people financially tied down. The Illusion of Upgrades, The Cost of Peace Kaushik described this phenomenon as a treadmill — people keep running but never actually move forward. He warned that this isn't truly about improving life; it's about replacing things that could still serve their purpose. 'Nothing grows old gracefully anymore,' he noted, stressing that the system is built to encourage replacement over repair. His key message: instead of chasing superficial upgrades, individuals should prioritize peace of mind. Financial freedom comes not from buying more, but from resisting the pressure to spend unnecessarily. According to Kaushik, in a world that constantly pushes consumption, stepping off the treadmill might be the most valuable upgrade of all.
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Earning well, still broke: CA explains reason for techie's financial stress
IT professional trapped in 'house rich, cash poor' cycle despite earning monthly salary of Rs 2,20,000 Indian working professionals would regard an annual salary package of Rs 40 lakh as financial bliss. But even that kind of money won't be enough without financial planning, according to a social media post by chartered accountant Nitin Kaushik. Kaushik wrote about a 32-year-old Mumbai-based IT professional who is financially stretched despite earning Rs 2,20,000 as monthly salary. The reason? Lifestyle, loans, and limited investments. The breakdown: Where the money really goes Here's how the IT professional spends his salary: -Car EMI: Rs 5,000 -Living expenses: Rs 50,000 monthly -Monthly savings or investments: Rs 30,000- 40,000, if everything goes to plan A disruption, like job change or a medical emergency, could derail his finances. 'Welcome to being house rich, cash poor,' said Kaushik on X, summing up a situation where an individual owns assets but lacks sufficient liquid cash to stay financially secure. The real issue: Poor financial planning, not income Kaushik's post reflects a larger trend in India's urban salaried class. The key problems he highlights include: No emergency fund: A basic safety net is missing Lifestyle inflation: Spending rises as income grows No retirement planning: Long-term goals are ignored in favour of short-term comfort Lessons for every high earner Kaushik's message is simple but critical: a high salary doesn't guarantee wealth. Net worth may look impressive on paper, but cash flow is king. Here's what professionals can do differently: 1. Spend mindfully: Avoid expanding lifestyle in step with income 2. Invest for returns: Prioritise mutual funds, equities, or other productive assets liquidity: Keep an emergency fund that covers 6–12 months of expenses 4. Beware of aspirational debt: Don't borrow for the sake of social image or peer pressure High salary without a sound money plan will make you feel broke. As Kaushik puts it: 'Instead of just chasing bigger salaries, start chasing financial freedom.' For young professionals, the takeaway is clear: real wealth is about smart money management, not just a big paycheque.
Hindustan Times
6 days ago
- Hindustan Times
Man linked to BKI held in Indore over grenade attack on Batala police station
New Delhi: A 22-year-old man with alleged ties to the pro-Khalistani terror group Babbar Khalsa International (BKI) was arrested from Madhya Pradesh in connection with a grenade attack on the Qila Lal Singh police station in Punjab's Batala district in April this year. Akashdeep was shifting locations to evade arrest. Initial intelligence inputs suggested that he had fled to Gujarat (Representative photo) The accused, identified as Akashdeep alias Baj, a resident of Batala in Punjab, was apprehended from Indore in Madhya Pradesh following an intelligence-led operation, deputy commissioner of police (special cell) Amit Kaushik said. 'Akashdeep played a facilitating role in the April 7 grenade attack in Batala. Following the incident, BKI had released threatening messages on social media, which included references to Delhi. The special cell, which has been proactively working against terrorist and gangster networks, initiated a targeted operation to trace and apprehend those behind the attack,' Kaushik said. Akashdeep was shifting locations to evade arrest. Initial intelligence inputs suggested that he had fled to Gujarat. 'He was living under the radar and maintaining a low profile, making it challenging to trace him. Eventually, he was traced in Madhya Pradesh's Indore, where he had taken up work as a crane driver at a construction site,' Kaushik said, adding that the accused avoided contacting known associates and relatives. During interrogation, Akashdeep said he is allegedly in direct contact with BKI handlers based abroad and played a role in facilitating the logistics of the grenade attack. 'He was a key facilitator in all BKI-led attacks. We are still verifying the extent of his role. While he is not named in any previous criminal cases and appears to be a first-time offender, his links to terror operatives are being thoroughly probed,' the DCP added. The National Investigation Agency (NIA), which is investigating the BKI module operating in North India, was also informed. Also Read: Happy Passia: From small-time crook to ISI, BKI's go-to man The Delhi Police has recently set up a dedicated operational cell within the Special Cell to focus on Khalistani and terror-related threats. 'The post-attack threats issued on social media by BKI operatives had specifically named Delhi as a target. Since then, our teams have been on alert. This arrest is a part of our broader counter-terror operations to prevent any untoward incident in the Capital,' a senior officer of the special cell, requesting anonymity, said. 'The accused is being questioned about his links to other operatives and any possible plans targeting Delhi or other states. Further revelations will depend on the ongoing investigation,' the officer added. Police are investigating whether Akashdeep has links with other terror suspects arrested in Punjab earlier this month, including those allegedly associated with Pakistan's Inter-Services Intelligence (ISI)-backed networks. 'BKI, in coordination with ISI, continues to carry out subversive activities, particularly in Punjab and surrounding states. We are closely examining any common linkages between the arrested individuals,' Kaushik said. Kaushik added that Akashdeep's financial transactions and digital footprints are being scrutinised too. After a powerful explosion near the Qila Lal Singh police station on April 7, the banned militant outfit BKI allegedly claimed responsibility for the attack via a social media post. The group stated that a rocket launcher was used in the assault, which targeted the vicinity of the police station. Gangsters identified as Happy Pachiya, Mannu Agwan, and Gopi Nawanshahria have reportedly taken responsibility for the attack, stating it was carried out in retaliation for the deaths of Sikh individuals in past encounters in Pilibhit (Uttar Pradesh) and Batala.
Yahoo
23-07-2025
- Business
- Yahoo
21-year-old MIT dropouts raise $32M at $300M valuation led by Insight
Karun Kaushik and Selin Kocalar weren't planning to raise a Series A so soon. Their AI compliance startup, Delve, which announced a $3 million seed round in January, was growing fast and signing customers at a steady clip. Then, inbound interest started rolling in, COO Kocalar told TechCrunch. Delve, which automates regulatory compliance with AI agents, ended up fielding multiple term sheets, eventually closing a $32 million Series A at a $300 million valuation. The round was led by Insight Partners, which took up most of the round, with participation from CISOs at Fortune 500 companies. Insight has been 'amazing to work with, and we felt they were the right long-term partner for us,' said the COO. Delve's new valuation represents a roughly 10x jump from its previous round. Similarly, its customer base has grown from the 100 companies it reported back in January to over 500, many of them fast-growing AI startups like recently minted AI unicorn Lovable, Bland, and Wispr Flow. And while the 2-year-old company, made up of AI researchers from MIT, Stanford, and Berkeley, has seemingly struck gold by using AI to eliminate hundreds of hours of manual processes, its story began much differently. Kaushik and Kocalar met as classmates during their freshman year at MIT. Both had deep interests in AI and health tech. Kaushik had already scaled a COVID diagnostic system to thousands of users during the pandemic. In 2023, they began working on an AI-powered medical scribe to help doctors handle patient documentation. However, handling sensitive healthcare information meant they quickly encountered the costly and time-consuming world of HIPAA compliance. Instead of continuing with the medical scribe, they started building tools to help other companies get HIPAA-compliant faster and more affordably. That pivot got the team into Y Combinator last year and helped them raise their seed round from General Catalyst, FundersClub, Soma Capital, and others. The founders dropped out during their sophomore year in 2023. What started with HIPAA quickly expanded. 'As our customer base grew, they started asking for support with other frameworks: SOC 2, PCI, GDPR, ISO, basically the whole alphabet soup of compliance,' Kocalar narrated. Compliance paperwork can be necessary in everything from launching products to closing enterprise deals. But instead of driving growth, its manual work can become a bottleneck. 'Compliance frameworks are standardized. Businesses aren't,' says CEO Kaushik. 'That mismatch is why traditional software breaks down and teams fall back to duct-taped workflows across email, Slack, and shared drives.' Delve replaces that busywork with AI agents that run in the background (after integrating with customers' tools) like internal team members. These agents collect evidence, write reports, update audit logs, and track configuration changes across fragmented systems, automating compliance workflows in real time. Kocalar says compliance is just the wedge into broader back-office operations. Long-term, the AI startup wants to automate a billion hours of other work — eventually expanding into adjacent areas like cybersecurity, risk, and internal governance. Insight Partners' interest reflects this roadmap. 'Since compliance touches every part of how a business runs, from scaling operations to closing deals to building customer trust, modernizing this function will modernize the entire organization,' said Praveen Akkiraju, managing director at Insight. 'That's what makes Delve's approach so important.' Still, the startup won't be without competition. Several AI companies are emerging with agents to automate business workflows. In addition, larger AI labs like OpenAI are releasing general-purpose agents capable of performing complex tasks. That said, Kocalar says these developments are a validation, not a threat, to Delve's business. She points to the company's domain depth in contrast to more general-purpose agents. 'We're positioning ourselves to improve as AI advances and labs roll out more sophisticated agentic technologies. But what truly sets us apart is the deep, domain-specific knowledge we're building into the platform,' she said. 'Compliance is always shifting as new regulations emerge and existing ones evolve, with companies interpreting them in different ways. That's where Delve stands out.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
