Saturday 31 December 2022



One thing that almost everyone does in the last week of December is to pledge a NEW YEAR RESOLUTION....And then by the end of January, 90% of this goes up in smoke!

After all, changing habits is not easy it needs constant reminders, which explains the failure to keep up with the resolutions and subsequent BACK TO SQUARE ONE!


Hence it's prudent to have an EVERGREEN WEALTHY RESOLUTION rather than just a NEW YEAR RESOLUTION


We have seen laymen getting into Resolution Pledging mode with huge
excitement promising themselves they WILL stick to it.

But how many do?

Less than 10%

Are you in that rare 10%?


If you are’s better, you get into the mode and scale up yourself.



It's indeed super difficult to CARRY through a new habit after a few days as so many tempting things keep popping up.

Give it a TWIST

Instead of having a Resolution only for the New Year why not have a Resolution for a NEW WEALTHY YOU!!

Yes. Just change the track. Get into a habit of sticking to a resolution that you can easily stick to throughout life and then see your life move from average to good to better to BEST LIFE


So… Ready?

 Here we go on the WEALTH RESOLUTIONS that you have to stick to throughout your life so that you #DontRetireRich but the #WealthOfWisdom that this article shares.. will elevate you to RETIRE WEALTHY



Something so easy that you will feel that I think I am already doing it. are not!

Maximum miss out



Identify the big-ticket spending and plan to save towards the same.

Yes... many do plan for Big-Ticket spending like Marriage, Owning House, etc

To simplify your life even further, plan early for even the ANNUAL Big Spending like the

School Fees in April-May

Festival Spending in October-November

Annual Vacation

Insurance Premiums


This will help you plan your cash flows and avoid selling your good investments and God forbid...getting into loans

 "With strategic planning, turn your goal pursuit from a mad dash to a joyful journey. Enjoy the journey, make wise choices, and get to your goal feeling confident and ready. 🚀

2. AVOID EMIs LIKE A PLAGUE (rather like COVID!)

The Buy-Now-Pay-Later is a scheme that is the BIGGEST hurdle in you moving up the WEALTH scale.

Avoid the EMI like a Plague (rather like Covid)!

Use CASH always...this will straightaway keep you out of getting into an EMI trap.

Unless it’s a Home Loan EMI, you have no right to get into an EMI and get yourself trapped and shave off your wealth.

EMIs reduce your cash savings and consequently, your money which was supposed to create Wealth for you and your family is now going to service debt thus postponing your Wealthy Retirement Life.

EMI kills

SIP thrills.   Do REVERSE EMI by investing in SIP

Invest in Equity Mutual funds via SIP (EMI in Reverse) and buy that Luxury Product with YOUR OWN MONEY.
The satisfaction will be unparalleled


(Read this useful blog





Earlier I had to take huge pains to explain the benefit of the Emergency Funds. The Covid experience has now made even the layman understand the importance of the Emergency Fund.

If you don’t have an Emergency Fund, SET IT UP NOW!!!
Be prepared for Emergencies: Medical contingencies, job loss, and salary cuts are some emergencies that you must be prepared for.

Sadly, the layman continues to ignore the Insurance part (especially the Term Insurance part).

Term Insurance is a MUST, especially for a Bread Winner. Term Insurance offers the HIGHEST Life Cover at a Low Premium protecting your family from a financial crisis in your absence.



4. Get an AMG

An AMG (Advisor/Mentor/Guide) will help you scale up the Wealth Ladder faster, quicker, and relatively stress-free.

The "I have Google" approach has ruined the finances of so many people and I have seen even the so-called highly literate Tech Guys making blunders by investing in selecting funds and then losing HUGE.

The Internet won't give you personalized suggestions. To build long-term wealth, always follow your AMG…Advisor-Mentor-Guide

Having to choose amongst 1000s of funds based on asset class, market cap, investment style, etc, is indeed a herculean task

Selection needs to be based on your risk profile, investment horizon, asset allocation, and various factors as each fund serves a different purpose in a portfolio.

 In such a scenario, advice from an AMG (Advisor/Mentor/Guide) is a must




It is critical to address indifference and a lack of discipline when it comes to money matters. The key to success is defining your financial objectives clearly and methodically breaking them down into doable actions. Establish a reasonable timetable for completion and reinforce your commitment by closely monitoring your own progress. 

Instead of a "kal karenge" cliche, turn your mindset into a "samridhi forever" story. One step at a time, one chai at a time, climb Mount Everest in finance. ☕️


Your income may reach the summit of Everest, but your spending should not! A bigger income is not a license to live like an Ambani! 
That Extra Income could be your ticket to Financial Independence. 
Ditch the "more money, more things" mindset in favor of long-term goals such as financial freedom over that flashy new gadget that will collect dust (and regrets) in a month. Remember that true happiness rarely comes cheap.

Invest your extra income wisely, whether it's in improving your talents, prioritizing your health, or supplementing your retirement fund. Today's strategic investments lay the path for a more resilient and prosperous future. 


“Focus on these small wins so you can make gradual progress,” Charles Duhigg, author of “The Power of Habit” and a former New York Times writer, said. “If you’re building a habit, you’re planning for the next decade, not the next couple of months.”


“No one's ever achieved financial fitness with a January resolution that's abandoned by February”

The resolutions shared here are not for a’s a VEDA VAKYA (GITA FOR INVESTMENTS) for LIFE-LONG

The ideas shared here are Meaningful, Measurable, and DOABLE.


 "No matter how   hard the past, you can always begin again."- Buddha


All the Best for a Wealthy Life 
Srikanth Matrubai
Qualified Personal Finance Professional (QPFP)
AMFI Registered Mutual Fund Distributor

Author of the Amazon Best Seller DON'T RETIRE RICH

You are strongly encouraged to consult your financial planner before making any decision regarding this investment. The views expressed here are the author's personal views and should not be interpreted as a recommendation to invest/avoid.

Srikanth Matrubai Author of the Amazon Best Seller DON'T RETIRE RICH

Do read the book and give your valuable feedback and request you to post positive comments on Amazon. 

You can purchase the book on Amazon and Flipkart 

For the best of ideas on where to invest to create Mountains of Wealth 
join my TELEGRAM channel

Friday 2 December 2022


RBI launched CBDC (Central Bank Digital Currency) on 1st December

What’s CBDC?

Is it like UPI?

Is it like Crypto?

What are the benefits, and how does it work?

Digital Currencies like the RBI CBDC is a digital form of a country's currency

So.. what RBI has launched yesterday is digital of our RUPEE

Central Bank Digital Currency symbol will be e₹ or e-rupee.


The E-Rupee by RBI represents legal tender like your Bank Notes and unlike Cryptos this digital rupee is in the same denomination as your paper rupee and coins (50 paise, 1 rupee, 2 rupees, 5 rupees, 10 rupees, 100 rupees, 500 rupees, 2000 rupees) 

This digital money shall also have RBI Governor's signature just how a currency note does today. 

Crypto has no issuer as such whereas E-Rupee is issued by the RBI

Digital Currency, that is the CBDC is NOT a new currency but just a digital representation of the Rupee.


Digital Rupee was launched by RBI as an effective alternative to CASH and not just Crypto.

This Digital Rupee will use Block Chain Distributed Ledge Technology

On the 1st day, that is 1st of December, Rs.211 crores ($26 million) of bonds were traded using the e-rupee




First, you will have to open a DIGITAL WALLET ACCOUNT WITH THE RBI (via your Bank) using your Aadhar Number.

Once you register successfully on the app, you will be assigned a digital wallet with a unique ID. You can then load the wallet by transferring money from your bank account

Next, you ask your Bank to transfer money from your Bank account to the e-Rupee Account. You will have to choose the denominations too (same denominations as the current paper notes and coins

Next, start using! Use it to make payments, and pay electricity bills exactly as you use your Physical Paper Currency Note.


For now. what has been launched by the RBI is a "pilot project" and is restricted to 4 cities and just 4 banks.

Gradually this will be expanded after fixing any glitches that could be seen and will make available to the layman like you and me



Good question.

Just like your Paytm, Google Pay, Bhim UPI, you can make payments using the E-Rupee to merchants using QR codes and even Person to Person

All payment apps like Paytm, Google Pay, etc need to have a backup in the form of a Bank Account (that is your money should be there in the bank if you want to make a payment) but …. 

in CBDC you have a Digital Wallet which could have money taken from your different banks (ex.. Axis Bank, Yes Bank, SBI) all into 1 single Digital Wallet. 
So for example, suppose I take Rs.100 from Axis, 100 from Yes, and 100 from SBI and use this Rs.300 to spend/pay on anything I want. No intimation to Bank will go and thus the Bank is completely eliminated when I am using Digital Wallet (CBDC) 

E-Rupee CBDC actually ELIMINATES THE NEED FOR a BANK ACCOUNT! (This could be a game changer and could even gradually kill the banking industry over a period of time)

So, a Bank Account is mandatory for you to use the payment apps like Google Pay, and Bhim UPI, but for the CBDC e-Rupee Bank is NOT required.

What you need is a CBDC Digital Account and here no Bank is involved

This will help foreign tourists in shopping without much cash in hand since they don't have bank accounts in India, UPI was still not used by them, but now they can use CBDC 

Thats why you would have noticed that sometimes your UPI payment fails but with DIGITAL E-Rupee the failure chances are NIL as you are actually giving money yourself without relying on your bank (it's like giving cash to the opposite person) 

Since CBDC Digital Currency e-Rupee is universal and not a payment app, it will be accepted EVERYWHERE (at all merchant shops) and no shops/seller will give the excuse of "I dont have Paytm...I dont have Phonepe..give me cash" !!!



Just like UPI (Bhim UPI, Google Pay, Paytm) the E-Rupee also lets you transfer money instantly without needing the other person's bank details

Users will be able to transact via an E-wallet offered by Banks via mobiles and devices

Person to Person (P2P), Person to Business (P2B), via the QR codes

e-Rupee has the same benefits as the daily cash that we use



When we keep our money in Bank, say a huge amount like Rs.1 crore and the Bank goes bust, unless it's an FD, your money is completely gone!

Even in a FD, only Rs.5 lakhs is guaranteed by the RBI
but when you keep money in the CBDC e-Rupee your entire amount of Rs.1 crore is GUARANTEED to stay as the CBDC e-Rupee account is with the RESERVE BANK OF INDIA and not with any Bank. Yes… CBDC e-Rupee is managed by the Baap of all Banks, that’s the RBI, and its as safe as your money can get!




Crypto is not represented by any underlying asset

Whereas the e-Rupee is represented by the RBI

Cryptos are a form of digital assets and NOT a form of payment.

Crypto is volatile and keeps going up or down

CBDC is definitely a safer alternative to Crypto as it's backed by Sovereign and the launch of CBDC by all central banks could even eventually kill the popular cryptos like Bitcoin.

And yes, your e-Rupee can be exchanged with the actual paper Rupee!

Unlike Cryptos (Bitcoin, etc) whose value is volatile, the CBDC by RBI will have a FIXED equal to the Indian Rupee and moreover backed by the Central Bank and is thus a Risk-Free proposition

Thus, CBDC like our e-Rupee has all the advantages of crypto with the additional greatest advantage of being backed by the Government.


All cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc., is taxed heavily including TDS

Only RBI’s digital rupee will be free from tax regulations.



No. You will NOT get any interest for keeping your money in the form of an E-Rupee. So, even if you keep 1 will continue to be Rs.1 crore even after a period of time (say 1 year) as the E-Rupee will NOT generate interest on the amount kept idle

(this may change later by RBI but for now, this is the rule)

Will the e-Rupee become popular?

Because the e-Rupee is backed by the RBI, the government is sure to make this popular, and thus we will be seeing more and more of the e-Rupee in the coming months and years


6500 crores spent by RBI to print which is definitely a massive waste

The growth of the e-Rupee will eliminate this cost and a huge saving for the RBI and the Government

And of course, the e-Rupee will eliminate the counterfeiting

Demonetisation did not kill cash but the e-Rupee could well do it!!

Srikanth Matrubai
Author - Dont Retire Rich
Author - WOW - Wealth of Wisdom

All the best,
Srikanth Matrubai
Srikanth Matrubai, Author of the Amazon Best Seller DON'T RETIRE RICH

You are strongly encouraged to consult your financial planner before making any decision regarding this investment. The views expressed here are the author's personal views and should not be interpreted as a recommendation to invest/avoid.

Srikanth Matrubai Author of the Amazon Best Seller DON'T RETIRE RICH

Do read the book and give your valuable feedback and request you to post positive comments on Amazon. 

You can purchase the book on Amazon and Flipkart 

For the best of ideas on where to invest to create Mountains of Wealth 
join my TELEGRAM channel


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