FINANCIAL LESSONS I LEARNED WORKING AT A FINTECH START-UP

When I began working at a fintech company, I was far from financially literate. With a background in computer science and marketing, I believed finance was complex, number-heavy, and out of my league. At first glance, personal finance seemed like something that only bankers, chartered accountants, or MBA graduates truly understood.

Fast-forward eighteen months, and I was not only managing my own finances confidently but also helping friends make investment decisions. Working in a fintech environment didn’t just expose me to financial tools—it forced me to rethink my attitude toward money, risk, and long-term planning.

Here are the six most important financial lessons that changed how I approach money today.

Don’t Just Look at the Price Tag—Evaluate the Real Cost of a Purchase

The first powerful lesson I learned was this: the listed price of a product rarely tells the whole story. We often fall into the trap of evaluating purchases based solely on MRP (Maximum Retail Price), ignoring the hidden and ongoing costs associated with ownership.

Consider the example of buying a PlayStation console. At ₹45,000, it might feel like a manageable splurge. But a full gaming experience will also require a compatible HD or 4K television, additional controllers, an HDMI cable, and multiple game titles. These items are not optional; they are necessary to enjoy the purchase as intended.

Item	Cost (₹)
PlayStation Console	45,000
Full HD/4K TV	35,000
Extra Controller	5,000
HDMI Cable	1,200
Two Game Titles	12,000
Total Ownership Cost	98,200

This realisation reshaped how I evaluated non-essential purchases. I started asking a simple but crucial question before any large expense: “What will this cost me in total—not just today, but over time?”

This shift in thinking helped me avoid impulse buying and encouraged a long-term, holistic approach to money management. It made budgeting more accurate and more honest.

Start Investing Even Before You Think You're Ready

Early in my career, I constantly delayed investing. I kept telling myself that once I understood every type of mutual fund, stock market index, and tax-saving option, only then would I start. That day never came—until I finally took a small step.

The truth is, no amount of theoretical research substitutes for actual experience. I began with a Systematic Investment Plan (SIP) of ₹1,000 per month in a conservative equity mutual fund. This minor step was transformative, not just financially but psychologically. It made me feel more in control of my future.

Monthly SIP (₹)	Investment Horizon	Future Value @ 10% CAGR
1,000	10 years	₹2.06 lakhs
1,000	20 years	₹6.89 lakhs
1,000	30 years	₹20.55 lakhs

These numbers illustrate the power of compounding over time. More importantly, they prove that action—even imperfect action—creates momentum. The fear of doing something wrong shouldn’t prevent you from doing something right.

Had I waited longer, I would have lost not just time, but opportunity. The lesson here is clear: get started, stay consistent, and refine as you go.

Let Your Financial Goals Drive Your Investment Decisions

When I first encountered the idea of investing in equity mutual funds, I was hesitant. I considered myself risk-averse. I preferred safer, predictable returns through fixed deposits or recurring deposit accounts. However, when I actually calculated how much I’d need to invest monthly to achieve my retirement goal, it became obvious that low-risk options weren’t sufficient.

To accumulate a retirement corpus of ₹10 crore in 30 years, the numbers looked like this:

Expected Annual Return	Required Monthly Investment (₹)
6% (FDs, PPF)	₹84,300
8% (Balanced Funds)	₹55,000
10% (Aggressive Hybrid)	₹38,200
12% (Equity Mutual Funds)	₹17,400

This data made one thing crystal clear: it’s not about what I’m comfortable with—it’s about what the goal requires. A long-term goal like retirement needs inflation-beating growth, and that typically comes from equity exposure.

I began aligning each investment decision to a specific goal. Emergency funds were parked in liquid funds. Medium-term goals like buying a vehicle were backed by short-duration debt funds. Long-term goals, like retirement and wealth creation, were supported by equity mutual funds.

When your strategy is based on a defined outcome, not just risk avoidance, your financial decisions become more focused and effective.

Question Traditional Advice—Especially When It Comes to Insurance and Tax-Saving

One of the first things my parents advised me to do once I started earning more was to purchase a life insurance policy from LIC. The reasoning? “It’ll save tax.” While this advice was well-meaning, it wasn’t optimal.

Traditional endowment insurance plans provide limited coverage, low liquidity, and underwhelming returns. I soon discovered that I could achieve better results by splitting the two objectives: use term insurance for protection, and equity-linked savings schemes (ELSS) for tax-efficient investments.

Feature	LIC Endowment Policy	Term Insurance + ELSS
Annual Premium	₹50,000	₹10,000 (Term) + ₹40,000 (ELSS)
Life Cover	₹5–10 lakhs	₹1 crore
Return on Investment	~4–5%	~12% (ELSS)
Lock-in Period	10–15 years	3 years (ELSS)

This comparison changed how I evaluate financial products. Mixing protection and investment usually leads to inefficiency in both. Instead, I now look for the right tool for each job.

The broader takeaway here is not to blindly follow legacy advice—especially in personal finance. Products and regulations evolve. What worked two decades ago may not be effective today.

Mistakes Are Part of the Journey—Don’t Let Them Hold You Back

In school, we’re taught to avoid mistakes. But in the real world—especially in finance—mistakes are inevitable and often essential.

I once bought a ULIP (Unit Linked Insurance Plan) because it was marketed as “investment + insurance in one.” What I didn’t understand was the high cost structure, lack of transparency, and extended lock-in period. I lost money and felt foolish at the time.

But that mistake taught me how to:

• Evaluate fund performance independently

• Understand expense ratios and exit loads

• Read the fine print before committing to financial products

Common Mistake	What I Learned
Buying a ULIP without research	Always compare products before investing
Delaying SIPs due to fear	Inaction is a bigger risk than imperfection
Taking stock tips blindly	Do your own research—don’t outsource judgment

Each mistake became a learning opportunity. It strengthened my financial muscle and improved my judgment.

Your Financial Plan Needs Ongoing Monitoring and Course Correction

The final and perhaps most important lesson was this: financial planning isn’t a one-time activity. Like an airplane constantly adjusting its path to reach a destination, your finances need periodic review and rebalancing.

Asset classes don’t perform uniformly. Over time, your portfolio may drift from your intended allocation. Without annual reviews, your risk exposure may increase unknowingly.

Review Task	Frequency	Purpose
Portfolio Rebalancing	Yearly	Restore asset allocation and risk levels
Insurance Coverage Check	Every 2–3 years	Ensure adequate protection as responsibilities grow
Goal Progress Assessment	Yearly	Track progress and revise SIPs if needed

These reviews ensure your plan evolves with your life. They also give you a structured opportunity to stop, reflect, and adjust. I now use automated tools like Scripbox to track my goals and rebalance my portfolio annually, reducing the cognitive load.

Conclusion

The most valuable outcome of working at a fintech company wasn’t just understanding mutual funds or tax-saving strategies. It was gaining the confidence to make intentional, informed financial decisions.

Financial independence is not a function of income—it’s a function of behavior. By understanding ownership costs, starting early, aligning investments with goals, questioning outdated advice, embracing mistakes, and reviewing regularly, you can build a resilient and intelligent financial life—regardless of your starting point.