"Spending money is easy, but you won’t know it's true worth unless you’ve earned it yourself. " - Rohit Jain
Rohit Jain, a dynamic entrepreneur and finance influencer, shared his incredible journey in an engaging conversation with Devika Majumder, co-founder of Global Influencers Hub. From his humble beginnings as a shy child to managing multiple businesses and creating a strong digital presence through “Rupees with Rohit,” Rohit has carved a unique niche for himself in the world of personal finance and business mentorship. In this interview, Rohit reflects on his upbringing, his entrepreneurial journey, and the impact of his content on his followers. Here’s a glimpse into their conversation:
Devika: Hi, Rohit. Welcome to Global Influencers Hub. Here, we speak about the life journeys of influencers. And today, we’re delighted to have you with us—Rupees with Rohit. We’d love to hear all about you. Let’s start with your childhood. How were you as a child, and how did your journey begin?
Rohit Jain: Thank you, Devika. Well, in my childhood, I was very shy. I didn’t like talking to people. If someone approached me, I’d respond, but I rarely initiated conversations myself.
Devika: Oh, interesting. Did that change as you grew up?
Rohit: Not much, actually. Even during college, I wasn’t the kind to approach people. It’s only now, with my business, that I’ve had to step out of my comfort zone. Meeting people and talking to them has become a part of my role, and I’ve started enjoying it.
Devika: So, business pushed you to adapt socially?
Rohit: Exactly. It’s an important trait for running a business, and I had to make that shift.
Devika: Let’s talk about your journey as Rupees with Rohit. How did it all start?
Rohit: My journey began after COVID. I manage multiple businesses—hotels, a gold showroom, and others. When COVID hit, everything shut down. That’s when I decided to start an oxygen plant because there was a dire need for oxygen in my area. It took about two years to set up the plant. During that process, I realized there were many gaps in information and support for such ventures. Initially, I was helping people offline, but then I decided to bring that online. That’s how Rupees with Rohit started. Initially, my niche was personal finance, but I realized personal finance only matters if people have money to manage. So, I shifted my focus to business ideas and strategies.
Devika: Fascinating! Tell me about your first video.
Rohit: My first video was about the Pradhan Mantri Employment Generation Programme (PMEGP), where I explained how people could secure loans and subsidies. However, the video that went viral was about a government scheme offering money to those marrying women from SC-ST categories. I titled it in a way that made people curious, and it hit 3 million views.
Devika: Wow, that’s incredible! What about your content on personal finance?
Rohit: Initially, I shared tips on getting maximum returns on fixed deposits, recovering penalties from banks, and even what to do if something goes missing from a bank locker. But I realized my engagement plateaued at around 50,000 followers and even started declining. That’s when I decided to pivot to business content, which felt more natural since I was already running businesses myself. Sharing my daily experiences as content worked wonders, and my reach grew significantly.
Devika: That’s amazing. So, apart from Rupees with Rohit, you manage multiple businesses. Could you tell us more about them?
Rohit: Sure. My first business is a hotel, followed by my oxygen, nitrogen, and CO2 plants. I’ve also recently set up a fire cylinder plant and own a jewelry showroom.
Devika: That’s an impressive portfolio. How do you manage all of them?
Rohit: I have an excellent team, and that’s the key. My day starts with visiting the oxygen plant to plan the schedule. Then I head to the gym, followed by a check-in at the hotel to review occupancy and functions. Afterward, I work from my office at the hotel, managing all my businesses remotely.
Devika: Did growing up in a business-oriented family make it easier for you?
Rohit: Definitely. I’ve seen these dynamics since childhood, so it felt natural.
Devika: Who has been your biggest influence?
Rohit: My father, for sure. The most valuable lesson he taught me is honesty. In business, you meet all kinds of people, and honesty ensures peace of mind, even if it means earning a little less.
Devika: That’s a powerful principle. What misconceptions do you think Indians have about managing money?
Rohit: Indians often focus more on saving than earning. They also spend on things they don’t need, like buying iPhones just to show off. There’s a lot of emphasis on status symbols, especially in the middle class, while the upper class is usually beyond such concerns.
Devika: True. Lastly, is there a personal finance tip you wish you’d known earlier?
Rohit: Not really. I’ve always started things at the right time. For example, I couldn’t have invested in SIPs earlier because I didn’t have the money back then. I believe knowledge and resources come to you when you’re ready for them.
Devika: What do you think is the most common misconception Indians have about managing money?
Rohit: Indians, unfortunately, aren’t great at managing money. The moment they receive money, their first thought is about how to spend it. It’s a mindset issue. In India, the focus has always been on saving rather than earning. People are taught how to save money, but not how to earn or grow it. The truth is, if you want to create substantial wealth, saving alone won’t get you there. You need to focus on earning and building your wealth. Another big issue is unnecessary spending. Indians often buy things they don’t need, purely for status.
Devika: Can you give an example?
Rohit: Take the iPhone, for instance. Many people who don’t need an iPhone still buy it just to show off. They aren’t using it for its features; it’s purely a status symbol for them.
Devika: Do you think this obsession with status symbols is widespread in India?
Rohit: Absolutely, it’s a big issue. People are very conscious about aligning themselves with a certain image or group.
Devika: Is this behavior more prevalent in certain sections of society?
Rohit: Yes, it’s most noticeable in the middle class. They’re the ones most focused on displaying their status. In contrast, the upper class doesn’t care as much about showing off.
Devika: Why do you think that is?
Rohit: When you have significant wealth, you stop caring about external validation. Whether you’re wearing basic sandals or luxury brands like Louis Vuitton, it doesn’t make a difference. At that point, you don’t need to prove anything to anyone.
Devika: What’s one personal finance tip you wish you had known earlier in your journey?
Rohit: Honestly, I don’t think I missed out on anything. Whatever I started, I did at the right time. That said, I do wish I had started investing in SIPs (Systematic Investment Plans) earlier. But even then, I didn’t have the money or knowledge back then. When I gained the knowledge, I had the money to invest, so it all worked out.
Devika: So, you believe everything happened at the right time for you?
Rohit: Exactly. It was all very timely. I never felt like I missed an opportunity because I didn’t have the resources or knowledge earlier. Whenever I needed to take the next step, I had the right tools and information at hand.
Devika: That’s a very balanced way to look at life.
Rohit: Yes, I consider myself lucky in that regard. Even now, there are things I don’t know, but I’m not in a rush. I know the money or opportunities will come, and by that time, I’ll have learned what I need to know.
Devika: It’s refreshing to hear such a calm and thoughtful approach to finances and life in general.
Rohit: If your mind is open, you don’t need to over-prepare. When the need arises, your mind will find the solution.
Devika: I’ve been watching your business videos, especially the ones where you share recommendations. Which one do you think you recommend the most?
Rohit: That’s a good question. You see, in business, you can’t say one is the best or another is bad. What works for me might not work for someone else because everyone’s working style is different.
Many people message me asking, “Which business should I start?” My answer is always the same: I can’t decide that for you. You need to figure out what you’re good at. Personally, I’m not great at sales or marketing, so I’ve hired a team to handle that. I focus on management because that’s my strength.
Before starting any business, think about yourself. If you have ten ideas, consider which one naturally creates a roadmap in your mind. If you can clearly visualize the steps—what to do first, next, and so on—that’s the business you should pursue. Honestly, all businesses have the potential to succeed; it’s about finding the one that suits you best.
Devika: That makes so much sense. Could you share an example?
Rohit: Sure. I run a hotel and earn well from it, but I know others in the same industry who haven’t been as successful. It’s not because the hotel business is bad; it’s about understanding the work and whether it aligns with your interests. When you truly understand and enjoy a business, you’ll succeed and earn well.
Devika: That’s insightful. How do you stay updated with the latest trends and developments in the finance and business world?
Rohit: Honestly, I don’t focus on staying updated with everything happening in the world unless it serves a specific purpose. When I need something, I do targeted research.
For example, when I share business ideas, they don’t come from deep market research or following trends. I observe my surroundings. Just yesterday, I was eating off a melamine plate, and it struck me—this could be a business. Then I started thinking about how melamine plates are made.
Similarly, when I see shoes, I think about their manufacturing process. Business ideas are everywhere. Step outside your house, and you’ll see hundreds of shops and businesses. It’s about being observant and open to ideas.
I don’t clutter my mind with unnecessary information like what political leaders are saying or what’s trending globally unless it directly impacts me or my businesses.
Devika: That’s such a refreshing perspective! It reminds me of a program I started in India called Youngpreneurs. We encourage teenagers to observe their daily lives and think about what they like or dislike. If there’s something they want to change, that could be a business idea.
Rohit: Exactly! That’s the mindset that fosters creativity. These days, people rely too much on Google for answers.
I’ve seen content creators search for ideas on Google, wondering, “What content should I create?” But how can Google tell you what’s inside your mind? You’re the one who knows your strengths and ideas. The same applies to business—you need to look within and around you for inspiration.
Devika: That’s a strong point. Speaking of content, tell me about your Instagram journey.
Rohit: My Instagram journey has been interesting. Initially, I focused on personal finance videos, but I got stuck at 50k followers. Then I switched to the business niche, which led to significant growth.
Even with that success, I’ve never been driven by the goal of earning money through Instagram. I already have businesses for that. That’s why I don’t do many brand deals. Despite having 367k followers, I haven’t done a single brand deal in the past six months.
Devika: That’s remarkable. Why is that?
Rohit: If I collaborate, it has to be with top-tier companies or premium clients. I don’t endorse random brands or trading platforms.
Recently, I’ve also started podcasts, which are going well so far. Podcasts are a great way to diversify and gain knowledge about different fields. Instead of consuming someone else’s podcast on YouTube, I prefer being in the studio and having direct conversations.
Devika: That’s such a unique and authentic approach! So, what kind of DMs do you receive the most from your followers? What’s the most rewarding feedback you’ve gotten?
Rohit: The majority of the DMs I get are related to business ideas. People often ask, “How can I start this business?” But let me tell you, I don’t reply to everyone. If someone messages me asking, “Which business is right for me?” I can’t answer that. I don’t know the person, their location, or their financial situation. How can I suggest a business without that information?
However, some DMs are from people who have done their homework. They’ve researched business ideas, and they come to me when they get stuck or need guidance. Those are the ones I engage with because I respect the effort they’ve put in. I won’t waste time replying to someone who hasn’t done any groundwork.
Devika: That’s a very fair point. So, how do you handle criticism or negative feedback?
Rohit: Honestly, I don’t even look at what others are saying. I don’t care. People ask me, “Why don’t you run a business yourself? You’re giving advice to others, so why don’t you install the machines yourself?” But I don’t feel the need to explain myself to everyone. My true followers, the ones who’ve been with me for a long time, know what I do, how many businesses I run, and what my journey has been. Beyond that, I don’t owe anyone an explanation.
Devika: That’s a healthy mindset. Moving on, what’s been your most viral post so far, aside from the dowry-related one?
Rohit: One of my most viral posts was about a business idea involving honeycomb bubble wrap. It got over 7.5 million views.
Devika: Wow! Why do you think that post resonated with so many people?
Rohit: I think it caught people’s attention because this business idea has a lot of future potential. For example, when you look at electronics packaging, you see plastic bubble wrap. But in the future, if the government bans plastic, honeycomb wrap could take its place. This idea is ahead of its time, and it has the potential to become a massive industry. It’s not a business for today—it’s a business for five years down the line.
Devika: That’s such a visionary idea. It makes perfect sense to think ahead like that.
Rohit: Exactly! If you wait until the trend catches on, you’ll be facing competition from all sides. You need to create a business plan for how your business will grow in the next five or ten years.
Rapid Fire with Rohit
Devika: Very true. Now, let’s shift gears a little—if the finance world were a movie, what would its title be?
Rohit: I’d call it Invincible.
Devika: That’s a great title, and it fits the finance world perfectly. Now, tell me, is there a splurge purchase you’ve made that you don’t regret?
Rohit: Honestly, I don’t regret any purchase I’ve made.
Devika: That’s admirable! Now, if you had to give one piece of financial advice to your 18-year-old self, what would it be?
Rohit: I’d tell myself to start SIPs (Systematic Investment Plans) early.
Devika: That’s great advice! So, who has been your biggest inspiration in the finance world?
Rohit: There isn’t one particular person who has been my biggest inspiration. I’ve learned from many people along my journey. The more you observe someone from afar, the more you admire them, but once you get close, you see things differently. I’ve taken bits and pieces from different sources and applied them to my own path.
Devika: That’s a very balanced approach. Do you have any guilty pleasures when it comes to spending money?
Rohit: No, not at all.
Devika: That’s very cool! So, where do you see yourself and your brand, Rupees with Rohit, in the next five years?
Rohit: In the next five years, I see myself as a successful podcaster with two or three more businesses under my belt. I’m also planning to expand into resorts and more factories. I want to keep growing and providing value. As a content creator, I feel I can make a bigger impact through podcasts. That’s where my focus is right now.
Devika: That sounds like an exciting plan!
Rohit: Yes, it’s going to be great.
Devika: It’s inspiring to hear about your plans for the future. How do you plan to empower people moving forward?
Rohit: As I mentioned, my main focus is on podcasts. I believe they are the best way to share valuable insights and empower others. That’s how I plan to give back and add value to people’s lives.
Devika: We’ll definitely be looking forward to that.
Devika: What’s your earliest memory of managing money?
Rohit: It all started when I ran a hotel. Back then, I was personally responsible for buying the ration and vegetables. By doing it myself, I managed to save Rs 500 every day.
Devika: That’s impressive!
Rohit: Yes, saving Rs 500 a day added up to Rs 15,000 a month. Now, I don’t shop for groceries myself; the staff handles that. I leave that Rs 500 behind because I earn much more today by managing the staff.
Devika: Of course.
Rohit: The first lesson here is that until you can manage a task, you should do it yourself. Secondly, when you start from the ground up, you learn all the pros and cons of your business. Today, I know exactly where the staff goes wrong or right because I’ve been in their position.
Devika: That’s amazing. You’ve gained so much knowledge by being hands-on in every aspect of the business.
Rohit: Exactly. You know, when young people take over a family business, they often go straight into the boss’s chair. I never did that.
Devika: That’s true.
Rohit: If they don’t understand the foundation of the business, how can they manage it? Many generational businesses fail because the new generation doesn’t know where it all started. They’re only interested in managing people, not the work itself. If you don’t know the value of money, how can you manage it? Spending money is easy, but you won’t know it’s true worth unless you’ve earned it yourself. You need to be where the money is being earned—on the ground with the staff. When you work alongside your team, things get better, and you understand their struggles.
Devika: Very true, absolutely.
Rohit: When you work with the staff for a year or two, you start to see their shortcomings and can manage them better. You can relate to their situation and explain things in a way they understand.
Devika: That’s a valuable lesson. So, tell us, what’s your go-to money mantra that never fails?
Rohit: There’s no magic mantra for money. But if you want to save, start earning more. Saving alone won’t make you wealthy. To build real wealth, you need multiple income streams. One source won’t get you where you want to be. People often think they can do everything themselves, but like I said earlier, I used to do everything—buying groceries and learning everything along the way. Once I learned, I handed over those tasks to the staff.
Devika: Delegation really is the key to success.
Rohit: Exactly. If I had kept doing the same thing, I’d still be saving that Rs 500 a day. But we should aim higher. Instead of thinking about saving Rs 500, think about how you can earn Rs 5,000.
Devika: Very true. Now, tell me, if you had just Rs 100 left in your wallet, what would you spend it on?
Rohit: I’d invest it in a business. You can’t just hold onto that Rs 100 forever. But if you start a business with it and grow that money, even if it’s just Rs 100 to Rs 110, it compounds over time. Without compounding, that Rs 100 will just disappear.
Devika: That’s a great mindset! So, how do you celebrate your financial achievements?
Rohit: I celebrate by partying, going on trips, and enjoying life. But the real celebration comes when people admire your success. For instance, when I renovated my hotel, guests would come and talk about how much it had improved. Their admiration is the true milestone for me. Drinking and partying are fun, but the recognition of your hard work is the real celebration.
Devika: That’s very true. Now, you mentioned trips earlier. What’s your favorite holiday destination?
Rohit: Goa.
Devika: Sounds like a fun spot! And how do you unwind?
Rohit: I unwind by watching movies. I love them.
Devika: Any favorite movie? Anything that stands out?
Rohit: There are so many! I really enjoy Money Heist and an old Hindi movie called Hum Saath Saath Hain.
Devika: Great choices! Alright, let’s dive into a rapid-fire round now. Ready?
Rohit: Sure!
Devika: Stocks or mutual funds?
Rohit: Mutual funds.
Devika: One app you can’t live without?
Rohit: Instagram.
Devika: Worst money mistake you’ve made, if any?
Rohit: I don’t think I’ve made any money mistakes.
Devika: Crypto or gold?
Rohit: Gold.
Devika: One person in finance you’d love to have lunch with?
Rohit: Ankur Warikoo.
Devika: Oh, Ankur is a good friend of mine.
Rohit: That’s great! I’ll be inviting him to my podcast soon.
Devika: Fantastic, I’ll make sure to let him know.
Rohit: Absolutely.
Devika: So, what’s the most ridiculous thing you’ve spent your money on?
Rohit: An iPhone! (laughs)
Devika: (laughs) Okay!
Rohit: Yeah!
Devika: Do you believe in manifesting money, or do you think it’s all a hassle?
Rohit: It’s definitely a hassle.
Devika: So, what’s the wildest DM you’ve received?
Rohit: I don’t really remember, but there are so many DMs—lottery scams, game promotions, and random DMs from people with pictures in short clothes. I used to check them out, but now I just delete them without reading.
Devika: Yeah, no need for those kinds of distractions when you’re focused on finance!
Rohit: Exactly.
Devika: Coffee at home or a 400 rupee café latte?
Rohit: Coffee at home.
Devika: Spend it, save it, or invest it?
Rohit: Invest it.
Devika: Travel or tech gadgets?
Rohit: Travel.
Devika: Of course! Dream collaboration?
Rohit: With Mr. Narendra Modi.
Devika: That would be incredible!
Rohit: Yeah, it would be!
Devika: Credit cards—love them or hate them?
Rohit: Hate them.
Devika: What’s your money mood today?
Rohit: I want to earn more.
Devika: Nice! Now, describe your financial journey in three emojis.
Rohit: Eyes with a dollar sign, eyes with a dollar sign, eyes with a dollar sign.
Devika: (laughs) It’s just like real estate—location, location, location!
Rohit: (laughs) Yes!
Devika: Complete this sentence: Money can’t buy happiness, but it can buy _____, and that’s close enough.
Rohit: It can buy luxury.
Devika: Absolutely. Now, you’ve been hired as a financial advisor to Gen Z. What’s the first thing you’d tell them?
Rohit: First thing—earn money, then invest it, and finally, expand.
Devika: That’s wonderful advice. Now, is there one finance trend you think is a bit overrated?
Rohit: FD.
Devika: Well that’s a good knowledge. So, Rohit, it’s been amazing chatting with you.
Rohit: Same here, thank you so much. It was really amazing.
Devika: I’ve learned so much as well. Thank you again. Keep shining and soaring, and we’ll stay in touch.
Rohit: Sure, take care. Bye!
Devika: Bye!