Make your own luck with a plan
Planning can make a difference in people’s lives. There are multiple instances when I have been lucky to know about such people. Here are few of them
- Anand story tells how we can Change the Plan: Every month Mr. Anand felt that his salary was minimal after all the bills are paid. Other plans like saving for emergency seem like a real stretch. But according to Mr. Anand, a change in mindset is required to build wealth. Hence Mr. Anand has changed his plan to start saving for your financial goals first, paying your bills and then consider spending the money you have leftover.” Another trap is putting your good money habits off till “later,” when life will get easier.
- Pratik advised me a Thumb-rule to save better: When we usually spend Rs1, 000 on a new gadget it will not only impact the future life but provide many reasons to repent later. Pratik got rid of this guiltiness feeling after shopping by creating a simple financial thumb rule such as not spending more than Rs 1000 on an unnecessary shopping, or having food once in a month for less than Rs 500 outside home. He managed to simplify the many choices we usually make in a haphazard way by implementing a rule
- My Office colleague has started planning his Retirement now: Iyer (my office colleague) is in his early thirties. Retirement for me was never a goal until one day our office senior was giving his retirement speech on his last day. I wondered how we will manage his expenses after retirement and just murmured to Mr. Iyer. He smiled and claimed that through retirement time might be miles away saving today might not be a priority. In between paying for vacations, saving for EMI, and using anything leftover to put toward “other necessities” it might be difficult to save for retirement but he told me that sooner you sock money away, the more time it has to compound and grow. The late it becomes to save money, and then it has less time to grow thus minimizing the impact of compound interest.
As the above story is inspiring the below video also show we need to go forward fearlessly with the battle cry of #KhudKoKarBuland.