Starting a new category from today which will be focussing on small steps in how you manage your money which brings long term benefits.
Today there is a lot of information on anything and everything you want. The problem now is of information overload. And MONEY is a widely covered subject.
The journey of money in our lives start with the first paycheck which is your own money earned by you, belonging to you. This is quite a beginning in everyone’s life and is generally followed with the gifts and celebration with the ones who helped you in starting this journey.
What about the subsequent paychecks? If you are an investment or stock market savvy person or know & believe someone who is into it; that’s mostly sorted. But if you are not, what do you do with it ? If you are the one who lets it remain in your bank saving account after the expenses have been met; then I have a small advice for you.
Invest the surplus. If you are risk averse and not sure which mutual fund to invest; at least start a FD or RD with that till you decide on that.
If for some reason there is no surplus, from next month start setting aside a small amount for investment and manage other expenses from the residual.
The bottomline is for the long term you need to start investing as early as your second paycheck. Instrument you invest will decide your risk as well as return. Getting into the discipline of investing is the first step which one needs to inculcate if it is not there.
Is right or is it wrong to dream ? To think sky is the limit and thus have expectations . It’s true that if we can manage our expectations well everything else falls in place. But aren’t these two extremes . On one side imagination without boundaries is encouraged & on other we are indirectly restricting the imagination .
So there was this phase of life which based on some preconceptions was expected to be the best of the times. But somehow events did not turn that way. In fact it happened to be full of unanticipated challenges . And everything seemed difficult & cluttered. Trying was not helping much . Finally it had to stop somewhere.
So there came this intervention in form of a push from certain tasks I was required to mandatorily do . And this mandatory task forced me to relook at the challenges which was long needed. I realised that lot of things in this was unnecessarily bothering me because (a). I had kept expectations too high (b). It’s important to forgive & forget to move on in life (c). What is crucial is to get things moving, instead to trying to do many things.
The last point was the hero of this new journey . It made me take up one at a time manageable tasks . Where it helped was the satisfaction on something has started moving & happening for the good . It helped lessen the clutter thus helping think with broader perspective .
So today when I look back , circumstances hasn’t changed much . But these small pockets of satisfaction has brought a new dimension to life which is positive & fulfilling.