Dear R and R2,
Let me start by saying money is very important in one’s life. And whoever tells you no it isn’t is lying. But kids, remember that money is not everything in life.
Few things I have learnt over the years and want to pass on the so called errrr wisdom to you.
1. Try and be financially independent as much as you can. Because it makes a lot of difference in your self esteem. Even if your earn a paltry sum doing stuff that makes you happy, remember its YOUR paltry sum. So go ahead and earn your money
2. Learn to handle your own finances right from the start. Dont make the mistake that Amma made by depending on your Appa for everything including withdrawing money from the ATM. Learn, read and invest wisely. Know where every naya paisa of yours is going. Use your brains properly so that YOU are the master of your bank balance
3. Save for your future. Invest wisely. Learn about the different schemes. Put your money in different saving schemes and remember to invest a little every month.
4. Enjoy the present. Thats something I have learnt from your Baroda Thatha and Thathi. However less money they had in life, they have enjoyed it. Even now they dont hesitate to buy that casatta ice cream or dark fantasy biscuit or the hot chips wafers or that kanchipuram saree or the soft soled chappals. They enjoy within their means but honest to God they sure do enjoy. Saving money for the future is an awesome idea but ensure you dont let go the joys of the present for a future not seen!
5. Give to people you know need the money. I am not saying give 20 percent of your salary to charity..Am just saying give to folks around you. Your househelp or the watchman or someone you know will definitely try hard to return your money.
6. Avoid borrowing money from anyone even if they are your parents. Somehow I can never be comfortable using anyone’s money unless its like a life and death situation and we really need the money.
Like I said money is important but dont make it the sole purpose of your life. Sit back, enjoy and always earn it honestly.
Yours financial knowledge dud