Edelweiss Mutual Fund Managing Director and Chief Executive Officer (CEO) Radhika Gupta, in her recent post on social media platform X, elaborated on her statement about not being able to buy a fancy car. Gupta highlighted the importance of a healthy relationship with money, and people’s fears and insecurities about savings and spending.

“The real idea was to talk about the deeper parts of money. About our fears and insecurities that influence how we save and spend, about how we improve our relationship with money and feel comfortable with the decisions we make,” said Gupta in her post on platform X. 

She mentioned receiving “fun messages” from multiple car companies in her comment about not being able to purchase a fancy car.

“My statement about not being able to buy a fancy car seems to be everywhere, and lots of car companies are sending fun messages,” said Gupta in her post.

She also underscored the importance of understanding people’s relationship with money and their fears and insecurities about savings and spending.

The post from the Edelweiss head comes a day after her video interview with business journalist Sonia Shenoy, in which she mentioned not being able to buy a luxury car.

“This is going to sound really funny but I have never bought, I can’t get myself to buy a luxury car,” she said in the interview when asked about her relationship with money now, compared to that a decade ago. 

‘My choice, my life’

The Edelweiss CEO pointed out that a car is a “depreciating asset” and the value of a new car goes down 30 per cent as soon as someone buys it. 

In the interview, Gupta also highlighted how 18 years ago, when she graduated from college, she was insecure about how people talked about her not having a luxury handbag. Now, reflecting on that thought, she said if someone asks about why she travels in a regular car, her response will be “my choice, my life,” with a sense of not having to prove anything to anyone.