Take Control

When it comes to our personal finances, the most common answer that I hear is “Finance, I don’t understand it.” And my heart aches when I hear these words.

Money, though not everything, remains one of the most important things in life. Think about it, food, clothing, fuel for your car, kids education fee, electricity and phone bills are bought by money. I challenge you to write down 10 issues that you are facing and I bet, 8 of those could be solved if you had more financial resources. Ironically, from our childhood we hear “money is not good”. And this is the precise reason that we don’t get or teach financial education in our school, college or even in most of the MBA programs. Yes, they do educate you how to manage finances or cut costs or make your organizations rich, but not YOU.

I sincerely believe that like any other skill or education, managing finance can also be learnt. We just need to have a mindset, some focus and ready to put in some efforts.

Few starters:
1. Take control of YOUR personal finance.
2. It’s YOUR money and YOU need to understand it.
3. Take advice and NOT decision.

Do you work for Money or it works for you??

Do you work for money or your money works for you? Confused. Well, it simply means that if your money is invested wisely and in the right instrument, it will work for YOU. Consider each single rupee invested by YOU as your “Loyal” employee. And guess what! It works for YOU 24 hours a day, 7 days a week, 52 weeks a year. It doesn’t ask for any holiday or leaves, doesn’t go on strike and if YOU take good care of it, it will take better care of YOU.

You may be working for 5, 10 or 15 years or may be a fresher. Have you ever thought after 10 or 15 years how many “Loyal” employees would you have working for you. Consider this, if you invested Rs. 2,000 every month in an average mutual fund for 15 years, YOU will have about Rs. 23 lakhs and if it is a good mutual fund, it could be Rs. 50 lakhs+. Surprised. It’s the power of compounding. How many of you who have been working for 15 years or more, and have that much saved. Think about it, seriously. And more importantly, ACT NOW!