Manage Money Like A Star!

By BankBazaar | June 30, 2016

Manage Money Like A Star!

It’s not often that one gets to speak with a movie star about his money-management skills. We suppose we lucked out when Prathap Narayan, a rising star in the Kannada film industry, agreed to tell us how he runs the show. This tinsel-town denizen very graciously shared anecdotes from his life that have shaped his investment code. What he said makes a good lesson in finance for all.

Raised in humble surroundings, Prathap knows that money doesn’t come easy. Juggling education and a part-time job from his youth, Prathap learnt early in life the virtues of hard work and the importance of savings. Still holding on to the habit of multitasking, Prathap is making great strides in show business while shining at his 9-hour job at a multinational.

Prathap has his job(s) under control and his finances too. We know Prathap’s story is a stellar example of smart time management and one not easily imitated. There’s a lot to learn from it with one key takeaway: how to monetise your hobby. Finding an additional source of income will definitely improve your personal finances.

Here’s something that can serve as an inspiration. We asked Prathap to tell us how he balances the two acts.

“I believe in patience and hardwork, and respect time and money. Because I have dealt with hardships early on in life, it’s easy for me to balance two jobs today. That is also the reason why I don’t let success get to my head.”

Quite a feat we must say! And if you thought that was all, you thought wrong! In between film shoots and a graveyard shift, the very spirited Prathap also finds time for his love of cricket. In the early days of his acting career, Prathap used to conduct cricket classes for children for two reasons – one, to be able to live his passion, and second, to earn some extra bucks for his portfolio shoots.

“Cricket was my first love. I wanted to play for my country,” Prathap confesses.

And every bit of Prathap’s efforts have been worth it. The actor was recently spotted hitting some kick-ass shots at the Celebrity Cricket League. What’s more, he can proudly put down having played for the Karnataka Premier League on his resume too. Pretty impressive!

Most of us struggle to strike a balance between chasing our passion and securing a steady flow of income. But only a few are able to hit the jackpot – turning their passion into a regular source of income. The actor is on track to trump this feat as well. So if you want to be in the league of winners, gear up for some extra work – read hard work – and you’ll soon see those extra bucks trickling into your account. Identify a job that drives you, and magically, you’ll have the energy to accomplish all that you want.

It’s often said that when you follow your passions, you needn’t chase success; success will come looking for you. The adage is apt in Prathap’s case, and he sure believes in it. The rising star has made his way to SIIMA (South Indian International Movie Awards) 2016. He has been nominated as the best debutant male for his impressive performance in Benkipatna – a film inspired by real incidents that occurred in the Kodagu district of Karnataka. With a whole lot of success under his belt already, Prathap attributes his achievements to his passion for his career, ability to stay focused and grounded and the unceasing support of his family and friends.

“I try to do as much as I can. There are days when I am exhausted, but my passion keeps me going,” says Prathap.

After starring in Benkipatna, in the lead role, and winning accolades for his acting skills, Prathap is due to appear in a lead role in two more movies later this year. (If we weren’t sworn to secrecy, we would have told you more about it.)

In between shoots, a regular job, and an ascension to stardom, Prathap has given due importance to finance 101. Right now he has Lady Luck on his side but he knows it’s imperative to stay prepped for rainy days. Appreciative of the security offered by Recurring Deposits and Fixed Deposits, Prathap knows that it’s important to cover one’s back before exploring riskier investments. But the actor doesn’t undermine the importance of calculated risk.

“Taking risks is what will bring you good returns.”

A family-oriented person, Prathap has secured himself and his parents against any setback that might arise out of a medical emergency. You are thinking right – Health Insurance for both his parents. Now, when you are running the show, you have got to insure yourself too. The man has taken Life Insurance in order to make sure that his dependents are secure. Being a person who likes to balance out his investments, he also believes in the power of glittering gold. After all, gold is the one investment that has historically been known to beat inflation.

A rising star, he also has to gear up for unexpected eventualities. What does Prathap do? Well, he has an emergency fund going, of course. Though he is wise with his money and keeps a check on his expenses, he knows that an emergency could crop up at any time. But fortunately, Prathap is unlikely to feel the pinch of something like a delayed payment thanks to his handy emergency fund. Though Prathap keeps his emergency fund well-stocked, he doesn’t overdo it to the extent of straining his liquidity. Really smart! Learn from it!

With his career taking off, Prathap is aiming to buy himself a studio apartment – a place to call his own – where he can prep himself for all the lights, camera, and action to follow in his life.

Still in the nascent stage of his career, Prathap is looking to muster a diverse bouquet of movie titles to his name– commercial, offbeat, artsy. While some are necessary to further his career (and bank balance), the others are chosen to purely showcase and hone his skills.

“Fill the bank, fill the blank,” quips Prathap Narayan.

He adds that while one must chase their life goals with undying determination, it must be accompanied with the right mix of planning and strategy. “Taking blind shots will leave you in the dark,” says Prathap.

So while you look out for Prathap’s reel-life work, adopt some of his real-life financial practices. Without a doubt, success will be yours for the taking!

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Category: 'Note' worthy Money Management

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