On Air With RJ Abhimanyu Kak—Learning Crucial Financial Lessons From His Journey Through The Entertainment Industry

By | September 27, 2017

On Air With RJ Abhimanyu Kak—Learning Crucial Financial Lessons From His Journey Through The Entertainment Industry

Have you ever felt stuck in your current job? Did you always have dreams of doing something very cool but ended up getting stuck in one of the usual monotonous jobs? Do those cool dreams and ideas still haunt you when you find no time for yourself, thanks to those never-ending reports, presentations, and meetings?

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Sigh! We sympathise with you. Many of us have the same complaint. We desperately want to pursue our passions, but feel too scared to break the monotony and start something new. After all, there are two types of people. One, who accept their boring lives and have no courage to pursue those cool dreams. Then there’s another set of people who are filled with courage and things like failure don’t bother them. They believe in the power of their dreams and nothing can stop them from pursuing what they want.

One such person is Abhimanyu Kak—a successful RJ from Chandigarh who reached the top 12 in Zee TV’s famous reality show ‘Zee Cine Stars Ki Khoj’ in 2014, went on to host a popular reality show ‘Happy Hour’ on &TV and has plans of trying his luck in Bollywood. His versatility and passion to make his dreams come true have made him a popular youth icon with a huge fan base all over India.

We got a chance to speak with him and know more about his amazing journey so far. Apart from giving us some great financial lessons based on his real-life experiences, he also played some amazing melodies for us. Here’s what he had to say:

You started as Delhi’s youngest RJ, made it to the top 12 in a popular reality show and hosted a reality TV show. Why did you choose the media industry?

My journey actually started in 2005, at the age of 15 when I started observing my father working in his radio-production house. I got inspired by him and expressed my desire to learn the art of radio production. That’s when I started working on the production process involved in making radio plays, shows etc. I was so into this whole thing that I ended up making my own radio show one day.

I was lucky to find sponsors for it and it finally got aired! When I decided to pursue a career in the media industry, I had only one aim in mind—to improve every single day and learn more.

When I was 17, I got the opportunity to start as an RJ with a private radio channel. Since I’ve always loved entertaining people, I participated in a popular acting-based reality show ‘Zee Cine Stars Ki Khoj’ and made it to the top 12. Later, I got the privilege to host a popular reality show on &TV. That’s been my journey so far.

We have seen you in so many different roles. Is your next destination Bollywood?

Like everyone who enters the media industry, especially if they have a passion to entertain people, Bollywood obviously looks like one of the stepping stones, if not the final destination. I am someone who believes in going with the flow instead of trying to anticipate what my future has in store for me.

That said, if given an opportunity, I’d definitely be open to the idea of exploring the magical world of Bollywood. Now that I’m moving to Mumbai to start a new journey as 93.5 Red FM’s night RJ, the chances of coming across more challenging opportunities will always be there.

When it comes to the entertainment world, not many people have the guts to complete the journey to their dreams due to the financial uncertainties involved. Did you at any point regret any of these career moves?

I have a very practical answer to this. I have always believed that 70% is your luck and the rest 30% is the amount of hard work you put in. I have been really lucky when it comes to finances. Starting at a monthly salary of Rs. 13, 000 and gradually moving up and reaching Rs. 1, 30, 000 has been full of ups and downs.

I strongly believe that since every artist eventually needs to sell their talent, they need to have a strong business acumen. Selling art/talent is very much like selling a product. You need to start by analysing your strengths and weaknesses and ultimately find your USP that gives you an edge over others. Then you need to look for the right channels to reach the right target audience. This is the first step you need to take to manage your finances.

Since I love to learn new things on the go, and believe in continuously improving myself by acquiring new skills, I have had a better chance at new opportunities. This, in turn, has helped me significantly with my finances. Being a versatile artist has really helped me out. Also, one must never let a good opportunity slip away just because they are too scared to see things through. Taking well-calculated risks has always worked well for me—both in my professional and financial life.

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While hosting the TV show ‘Happy hour’ for &TV, you had quite a hectic schedule. While you were mostly on the move, how difficult was it to manage your full-time job as an RJ? How did you plan the financial aspect involved?

While hosting Happy hour, I used to continuously shoot for 14-20 hours every day. Since I was a primetime morning RJ, I couldn’t take things easily. To ensure everything runs smoothly, without my shoots getting in the way, I used to finish my lunch as quickly as possible so that I could sit and record my radio programme.

This didn’t seem too difficult, thanks to my Producer and teammates back at the radio station. The key here was right planning. I had a well-laid-out plan in mind and that helped me balance both radio and TV together. This same trick works when it comes to managing your finances. You need to be clear about your short and long-term goals and the financial angle involved. It can help you plan well ahead of time and be prepared for any unforeseen financial emergencies as well. Planning things well also helps avoid the frustration that being overworked can lead to.

What financial advice would you like to give to people whose career and passion are the same (just like you)?

Given today’s scenario, this is a very relevant question! Most people (especially the youth) get attracted to the media industry because they keep running after money and fame involved. Speaking from my personal experience, I think getting famous is just a small part of one’s journey towards their dreams. Moreover, there’s a phase where you suddenly become everyone’s favourite entertainer and you only see good things happening for you.

Not everyone is as lucky and hardworking like the famous personalities from the entertainment industry who got a chance to see elongated periods of the ‘fame phase’. The most crucial part of getting your financial plans right is—learning to save whenever you find yourself in this phase.

When it comes to getting your financial plans right, people from all professions follow similar plans. Likewise, I have also taken insurance policies to secure my future (keeping my long-term plans and goals in mind).

Getting your image right and then maintaining it well is a crucial part of the entertainment industry. This whole process of image-building can take a toll on your finances if you don’t plan things right. I am someone who wears all kinds of brands—starting from something that costs me a bomb to something I find in a flea market. Wearing high-end brands all the time is not a necessity if you have your fashion game on point.

I’d like to add that I manage my finances like a middle-class person has always done magic for me. That doesn’t mean that I don’t splurge every now and then. I just believe that gradual and sustainable growth is always better than trying to do it all at once.

Taking things at the right pace has always done the trick for me. I apply the same concept to my finances as well.

We have heard that you have recently built your own recording studio from scratch. How did you manage your expenses while doing so?

I started saving at a young age. As soon as I started to earn, actually. Although it started in the form of small Recurring Deposits for just Rs. 5,000, I kept increasing the amount as I started to earn more. I then converted these RDs into Fixed Deposits. Apart from using the basic conventional saving tools like Recurring and Fixed Deposits, I also tried to work more and take up more opportunities. Even if that meant stepping into unknown waters, I never let any chance go to waste.

These early savings and the extra work I did came in handy when I decided to build my studio. Ultimately, it all comes down to saving. It’s an art and not everyone is a master at it.

Talking a bit mathematically, someone once advised me to keep this golden ratio in mind—30:50:20.

30% is the necessary expenses—things like food, water etc.

50% is what you may or may not spend—things like branded apparel, accessories etc.

20% has to be the amount you save

This ratio has always simplified things for me and made financial management look like a walk in the park. As and when you keep earning more, it becomes all the more important to follow this ratio. If you’re spending a lot on things you’ve always wanted, you need to balance it out by increasing your savings as well.

Thank you so much for your time and patience, Abhimanyu. Any last words for our readers?

For all the artists out there, always remember that you are out there to entertain people. I’d like to sum it up by saying—talent without the right attitude is a waste! If you want to be successful, you must know how to manage various aspects of your personality and your finances.

And that was Abhimanyu Kak spilling out his heart for you! Oh, we forgot to tell you that this multitalented star sings and plays guitar as well. (You can check out some of his amazing melodies and other acts right here.)

Are you charged up enough to chase your dreams? We have some great loan offers to help you get the right start. We also have a lot of other interesting information about finance.

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