Tuesday, October 21, 2008

Money Hai To Honey Hai

Money!! Money!!! All of us lead our lives thinking about how to make it, how to grow it, how to sustain it? But very few of us realise how to spend it. Those who know how to spend it wisely only acquire more of it. The way wealth works is very different. Many of us want to possess wealth but do not realise that it has to be spend wisely in order to make, grow and sustain it. A few of us are quite miserly and do not want to spend a penny thinking about the future. But the fact is that with growing infaltion rates the same money we have been miserly saving wouldnt be able to buy anything a few years later. Most of us youngsters and working professionals talk about buying ahouse, making a farm house, buying electronic gadgets, going for a holiday etc after they have earned so much... money. But the truth is that none of them will actually have the strength in their body to maintain their homes and travel far to see all the places because our bodies have no more strength left. All the strength has been lost in pursuit of this money making. But eventually when it comes we do not have the strength to enjoy it. Its good to save, save to an extent which can be used for the future and also for uncertainities. But todays youth has been busy spending their saving portion of the income in malls, branded apparel and footwear. All of them want branded apparel and branded shoes. No one wants to settle down for some inhouse local brand. With rising inflation, rising interest rates the youth and working professionals need to save wisely and plan for their future (retirement) very early and carefully.

There is one of my colleagues at office who would keep all his savings parked only in fixed deposits and banks. He is too secured and doesnt want to take any risk and henceforth there is no much return on his savings. In life in whatever we pursue or work, it is good to remember that higher the risk, higher the reward. Lower the risk, low or no reward. There is one set of people who are taken aback with all the stock market fluctuations. They keep on tracking their investments on a regular basis and their mind also starts fluctuating with fear and dissonance about their own investments. But one must realise that the returns over the long run are always fruitful. Their have been several wealth management companies who have found that anyone who has been consistent and patient with their investments have always gained irrespective of the market crash in the short term. So one needs to show some calm and be patient in the pursuit of growing money and investing. Wealth creation will surely happen. All say money doesnt grow in trees. But the fact is that it will surely grow but there needs to be a change in attitude and behaviour towards money. Money just wants to grow but we people dont allow it to grow. So the fault lies in us.

There are some few questions to ponder when it comes to money.
How come some people are so rich and some people are always poor? (Prosperity Consciousness)
How are some people spending and yet do not have any dearth of money? (Law of abundance)
How are some people inheriting all the wealth ? (Law of attraction)
Why are few people always planning how to spend their money? (Money Procrastination)
Why are some people waiting for their retirement to spend all their money? (Possessive Planners)
There is a subject called as behavioural finance which is taught in B schools as part of their finance curriculum. Its about how behaviours affect the way we invest, way we spend and we we take calculated risk. Most of our attitude towards money is shaped as part of our religious conditioning and upbringing.

Its Diwali time in India in a week from now and the goddess of wealth will be prayed. All homes will have the Lakshmi Puja and you can see people lighting lamps and incense sticks next to their lockers. Many of them purchase gold also as this is considered as one of the auspicious moments to purchase gold coins and jewellery. The message of this festival or the goddess of wealth is to spend money wisely, give away generously so that it just keeps growing more and available abundantly. Money needs to move in order to grow in abundance. The way it works is very unique, the more you give, the more you get. As you sow so you reap.

In our religious heritage also, it is said that one may donate 10% of their total income to charity. Charity also is an art. So every individual needs to use his viveka to donate for the right causes. The world and the people are just waiting for help..So this Diwali just promise yourself to spend money and invest wisely, so that it is always in abundance.

Celebrate Wealth
Celebrate Abundance

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