Vaasu Challa explains why middle-class people lose money more than rich people

Incidents of financial frauds have taken alarming proportions, with middle class people accounting for the bulk of the victims. With conmen swarming all around, including the digital space, it’s highly desirable that people pay attention to the need for financial literacy. Regulators of the financial markets, including RBI, SEBI and IRDAI, are calling upon people to be cautious with money grabbing schemes who invent ways to swindle the hard-earned money of the people. 

Individuals are getting caught by network marketing and ponzi schemes. Vaasu Challa is a man on a mission to empower people with financial knowledge to eliminate these tricksters. Challa is confident that financial skilling of the people makes it tougher for fraudsters. 

There are several YouTube channels, advertisements, blogs, and articles that sell dreams of becoming rich if people followed their advice. In practice, the suggestions offered by such platforms are invariably bogus. Individuals struggle while making financial choices. For instance, deciding on purchasing a house or a vehicle or an insurance policy becomes a cumbersome process for people. In such a dilemma, people fall prey to fraudsters who take advantage of the confused state of mind of their targets. The choices thus end up being regretful. One of the mistakes which many middle class people make is either they don’t have a qualified financial planner or they will have more. Both cause them fail financially. 

Vaasu Challa is a renowned expert who guides his clients on the path of financial wisdom and prudent decision making. With his organization Happycoin, Challa sets people on the right path of financial security. 

Happycoin's mission is to make one lakh middle-class families rich by giving them the right financial knowledge. The COIN in Happycoin is an acronym for CUSTOMERS, ORGANIZATION, INVESTORS and NATION. By following the pattern of web-based media, Vaasu is adding to individuals’ pockets through various money management strategies, executed through online channels.

The group has served more than 10,000 clients and is eager to serve more. Vaasu says that he cherishes problem solving, and that is the reason behind choosing 'money management', as 90 percent of the issues that individuals face in daily life arise through money.

Vaasu Challa explains that the first mistake that most millennials make is not setting goals before making an investment. Individuals invest in mutual funds, real estate, stocks, recurring deposits, post office schemes and fixed deposits, while ignoring the crucial step of goal setting. People need to understand the importance of “goal setting” and “planning”, and how the two terms can change the whole process of money management. The tribe of financial planners is quite small in India. There are only a few of them who could be trusted. The problem here is many insurance agents, mutual fund distributors call themselves as financial planners, But in reality they are not.

The organisation also promotes Free/Discounted Service for “Third Gender", "Widows", "Retired", and the "Soldiers." 

Happy Coin has proved itself, and has been hailed as the most trustworthy organization in the market. Their ultimate goal is to provide people the knowledge on certain steps -- How to set financial goals? How to choose the best financial product? and How to plan their future investments? How to start Business? How to setup franchisees...etc.

To be part of Happycoin, the customer must be earning Rs 35,000 monthly and must be from a middle-class background. They must know how to carry out online transactions, videos, online meetings. The organization works on one rule -- first understand the problem, and then give the best solution.

Vaasu Challa, the CEO and founder of Happycoin, started his venture in 2017, with the ambition to turn at least one lakh middle-class families rich through guidance and knowledge. He is an ex-financial planner, business coach, political consultant, and author of two bestselling books. Vaasu and his team are transforming dreams into reality, and are eager to pass on the benefits to more people. 

Disclaimer: No Asian Age journalist was involved in creating this content. The group also takes no responsibility for this content.