How to plan your finances for a tension free future

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Between earning and spending, you must not leave out investing. Money resting in the banks is only good when you want some liquid cash in life, but to beat inflation, investments would come in handy. Investors often consider that their money is safest in a bank account but that is their biggest mistake. Money kept in the bank account does not give any return, on the contrary, rising inflation reduces its value. The sooner one starts investing this money, the better.

In this edition of Save Nahi Invest Kare, Vinayak Sapre, author of Dohanomics and Financial Coach, talks about how to start investing and its benefits.

Vinayak Sapre, author and financial coach of Dohanomics, gives an example of Akbar-Birbal’s story to stress upon making most of the money by investing.

“The gardeners of one of Akbar’s gardens used to sleep instead of working, and the condition of the plantation was deteriorating. But, when Birbal told the gardener that if they will work, they will get a job in Akbar’s royal garden, all the gardeners woke up and started working. In the same way, one has to awaken the money from sleep and get them to work so that they can earn returns for you,” Sapre said.

Invest tension free

Sapre quotes Rahim’s couplet in Hindi. He says, ‘Chah mitti, chinta mitti, manwa beparwah, jisko kuch nahi chahiye, veh hai asli shehenshah‘.  This means that one who has conquered the materialistic urges can truly achieve financial autonomy.

According to Sapre, if a person wants to eliminate all worries related to money, then it is important that he/she starts investing early. The sooner an individual starts investing, the sooner he/she will be able to take steps towards financial independence.