We all are working hard and rushing here and there to earn money. A child, from his/her schooling, decide to be doctor or engineer. Then he/she works hard to get good marks in board exams, then in entrance exams. We he/she gets selected in good college, then their main goal is to get good job in any good company or to be an entrepreneur.
You should observe thay how the goal of child from becoming doctor or engineer has turned into earning money. The reason behind it is that money creates the path of achieving the goals, that can be anything, even one you imagined in your childhood.
So in brief, money is nowadays an urgent requirement of everyone. From one company who needs money for starting one project to one boy who wants to study in good college and one household person who needs loan for buying a house. Having money in your wallet actually makes you financially independent unless that wallet gets empty.
Now the question arises is that is earning money is enough for you? No!
If you see around you, you can easily find many people who are worrying about money shortage. At one time, they were having ample of money and other resources. Now everything is gone. Reason is just that he had not done any savings or not invested anywhere.
In today’s period, due to inflation and dynamic changes in market, you can’t say yourself safe until you are not prepared for it. We all are insecure:- that’s the bitter truth.
Saving and investing money are ways to get prepared for that insecurity. Even if you are earning person or a student, saving should be a habit. If you earn 10000 rupees per month, then saving atleast 100 rupees can work alot.
Saving 100 rupees monthly will lead to 1200 rupees after year. It is said that drop by drop will fill the bucket. So save consistently and fill the piggy bank.
However savings can be kept in bank accounts also. This is common way of keeping money safely. In savings accounts, money will get accumulated by adding interest. This is common investing method. Similarly other ways of investing are mutual funds, stock market, fixed deposit, recurring deposit, gold, etc. These are some of good ways for getting good returns from your money. However along with good returns, these are carrying the risk of market conditions. So before investing, take advise from any expert.
Always remember the goldern rules of saving and investing, i.e.,
- Have patience while saving money and to have good returns from investment.
- Be consistent while saving the money. Remember, you are saving for overcoming all problems in your bad times.
- Take help from any expert when you have any trouble in investing. Take appropriate knowledge of investment.
- Always remember your goal of investment.