Story of Shilpa Shinde and Her Financial Decisions

Shilpa Shinde has dared to go where very few women go. Conquering the Leh-Ladakh stretch on her Royal Enfield last year is not the only convention she has broken. It's one of the many. Shilpa is a resident of Pune and stays with her husband and her daughter. Asked the reason for making the Leh-Ladakh trip, she quips, "It was not about showing to the world. I wanted to prove to myself that yes, Shilpa, you can do it. And I did it. There was some passion for doing this trip – to see the mountains, to explore the roads. It was for my own satisfaction."When asked what she would do if she had all the money in the world, she answers with an ecstatic thrill, "If travel were free, then I would not be at one place at all. You would have to track which road I am on. I will travel the whole world on my bike."It's hard to describe Shilpa's profession in one word, but easy to express her passion. She is a biking enthusiast first, later a YouTuber; takes up product shoots and editing, and also earns by being a part of her brothers' business.

Shilpa realised the value of earning her own money to fulfil her dreams as very early on in life, her family started opposing her career choices, which were not seen as suitable for women.

.quote-box-content {
font-size: 18px;
line-height: 22px;
position: relative;
text-align: center;
padding: 18px;
color: #CC1F35;
font-weight: bold;
margin-top: 15px;
margin-bottom: 15px;
}
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}
.quote-box-content .quote-box-right {
border-top: 3px solid #8a0a1c;
border-right: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
right: 0;
}
.quote-box-left {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-left: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
}
.quote-box-right {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-right: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}My dad is from a very orthodox family. He did not allow me initially. I used to learn biking on the sly, from my brother and others.

But when I started earning, then I became dominating. I had the power to earn, and I didn't need to ask for a bike from my father. I could buy my bike. But still, I had a down-payment to make. My grandmother was very supportive. So, the first down-payment for the bike was given by her."

.quote-box-content {
font-size: 18px;
line-height: 22px;
position: relative;
text-align: center;
padding: 18px;
color: #CC1F35;
font-weight: bold;
margin-top: 15px;
margin-bottom: 15px;
}
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}
.quote-box-content .quote-box-right {
border-top: 3px solid #8a0a1c;
border-right: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
right: 0;
}
.quote-box-left {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-left: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
}
.quote-box-right {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-right: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}Initial lack of support from her father didn't bog Shilpa down. Instead, it made her stronger. As her struggle continued, she finally got a supporter in the form of her husband. She mentions how he supported her as she quit her 9 to 5 job. "After I completed my education I had a job with Wipro for eight years. I learnt how to shoot video, photoshop, edit the videos. To learn these things, my husband supported me a lot. He also financed me because I was at home for 1-2 years learning all this.”The world often has a wrong view of people in adventurous professions. We think that they come from affluent families and don't have to worry about money. But although her husband was there to financially support her, Shilpa didn’t believe in living off that support only. She quickly turned her passion into a source of income as well. "It is not that I am chasing a passion, and I am not earning – both are happening together. With the help of my projects like shooting and editing, I earn a decent amount.As a woman, I feel that we should be able to pay for our expenses. At least that much financial independence is important.”Further trying to understand from her what she meant by financial independence, she quotes her own example. “I sponsor my rides. I don't have to depend on anyone because I am financially fit… Generally, all the household expenditure, I manage on my own earnings. My loan instalments are repaid from my husband’s salary." So essentially, she takes care of multiple small ticket expenses of the family, while her husband takes up fewer but bigger expenses like EMIs.Her passion includes three bikes which she has bought till date, "I have bought every bike on instalment. I have taken a car loan. I have a Tata Nano. I have constructed a farmhouse about 100 km away, for that I have taken a personal loan." Her passion is also risky and dangerous at the same time. She tells us what her insurance looks like,

"From the time I started working, I have been fully insured — especially accidental and partial disability insurance.

.quote-box-content {
font-size: 18px;
line-height: 22px;
position: relative;
text-align: center;
padding: 18px;
color: #CC1F35;
font-weight: bold;
margin-top: 15px;
margin-bottom: 15px;
}
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}
.quote-box-content .quote-box-right {
border-top: 3px solid #8a0a1c;
border-right: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
right: 0;
}
.quote-box-left {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-left: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
}
.quote-box-right {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-right: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}Also, there are different riders in insurance I have purchased. In a medical emergency, the need for money is huge. I have made it a point to have accidental insurance, so I am fully covered while riding.

In case of any mishap, there is no tension. The family does not need to collect money in an emergency.

.quote-box-content {
font-size: 18px;
line-height: 22px;
position: relative;
text-align: center;
padding: 18px;
color: #CC1F35;
font-weight: bold;
margin-top: 15px;
margin-bottom: 15px;
}
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}
.quote-box-content .quote-box-right {
border-top: 3px solid #8a0a1c;
border-right: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
right: 0;
}
.quote-box-left {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-left: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
}
.quote-box-right {
display: block;
position: absolute;
border-top: 6px solid #8a0a1c;
border-right: 6px solid #8a0a1c;
border-bottom: 6px solid #8a0a1c;
.quote-box-content .quote-box-left {
border-top: 3px solid #8a0a1c;
border-left: 3px solid #8a0a1c;
border-bottom: 3px solid #8a0a1c;
height: 100%;
width: 10%;
top: 0px;
left: 0;
}I have cashless insurance, so I am fully secured to face such an incident."She also deeply understands the value of safe and risky investments and tells us about the ones she has made. "My investments are after much thought and planning. It covers my life and medical emergencies, accident benefits. I always look for safe investments. My hard earned money should not be lost.I discuss all this with my insurance agent before I take the insurance. I always check if my money on insurance is growing. I have made some investments in mutual funds, which are risk covering. It is a monthly SIP. You could say that 10% of my money is at risk. 90% of the money is invested in fixed deposits, some in insurance like LIC. I have some long-term investments – like a farmhouse and a flat which I have bought."Shilpa also has a ten-year-old daughter. When asked if she would prioritise her education or her passion, Shilpa gives a very balanced reply. "Education is going on, but I will also let her fulfil her dreams. If she wants to take up biking, that is fine; she can do it. I will never oppose her." She started saving for her daughter from a very young age."When she was a month old, from that time, I started thinking about her future. I was working then; I purchased some child plans. I have some fixed deposits and insurance in my daughter’s name. She also has a medical policy. We don't take a risk in case there is a medical emergency. All her medical and education needs will be fulfilled through these investments."Shilpa's passion for biking doesn't stop only with her journey. She wants her impact to reach many more women and youngsters. She signs off by telling us about those plans, "Last year, I started a YouTube channel called BikeMySoul, which motivates girls to take biking as a passion. I also have a dream of starting a girls training school in Pune. I am keeping aside the small incomes I get for this. I also do stunts. In that profession, there are fewer boys and girls, since it is risky. So, my dream is to start a stunt school and a motorcycle training school."

• Accidental Insurance: Get a protection cover against a range of uncertainties such as road accidents. A plan that assures financial protection in the form of offering lumpsum payment to your family.
• Start investments: Put your surplus cash/hard-earned money to use and grow your wealth. Start investing in mutual fund schemes, fixed deposits or real estate properties. Maintain a good ratio between risky and non-risky investment options to get superior returns.
• Child plans: When you’ve chosen biking as your profession, it may undoubtedly pose a risk to your life. The loss would be immense if you have a family; hence it is better to secure your child’s future by investing in a plan that takes care of your child’s educational and medical needs.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.