“If you don’t find a way to make money while you sleep, you’ll have to work till you die.” — Warren Buffett
In recent times India has garnered attention as a “Young Nation” since the majority of the Indian population ranges between 18 years- 35 years. If we are proud of this fact, then we need to have a reality check. The same population in another decade or two will officially be “old.” How do these old people look after themselves then?
We need to live by this quote of the ‘Money-Genius’ Mr. Warren Buffet. As a young generation looking to become financially independent, it is of utmost importance that we put our money to work.
The Indian demography currently consists of a majority chunk living pay-cheque to pay-cheque, some lucky few inheriting ‘ good- fortune’, while remaining few hoping to crack the ‘start-up’ frontier, the requirement & availability of funds becomes crucial. More than its availability, planning the pre-existing currency is an art in demand.
Money & water, if stagnate, erode or lose value. The nature of money can be divided into basic mathematical functions for better understanding. Adding the sources of funds, dividing them into various segments of investments, multiplying the returns from these segments, and subtracting the un-profitable options, is basically what financial planning is.
The crux lies in understanding where and how to exercise functions. Planning the incoming will ensure not only the sufficiency of credit but also enable the payment of bills, dues, EMI’s, etc. Imagine, if Netflix cuts us off for not being able to pay the subscription! What a pity…isn’t it?
Want to avoid that? Try the following things:
Always ask the question, “Do I need this?” & then proceed with the purchase.
Prefer ‘Debit-Cards’ over’ Credit-Cards’
Banking channels are a safety net for all. They are certainly not match winners. Overindulgence in banking options will kill the growth of money.
Prefer investing in stock-markets, mutual funds, etc.
Before making any investment, educate yourself, and understand the risks.
A generation before us slogged for 30–40 years of their life for financial security. We need to plant these funds along with our own & make most of them. So that when it comes to enjoying financial security, we don’t have to slog as much. After all, why “If you don’t find a way to make money while you sleep, you’ll have to work till you die.” — Warren Buffett should the ‘earners’ be the only one’s working? Let’s put the ‘earned’ to work while we sit back and enjoy the returns.
As we head into some volatile times, financial security will matter the most. Therefore the sooner money gets to work, the sooner we can retire and leave for world-tour or sit back and chill on a beach in Hawaii..! Put your money to work so you don’t have to!
