In this world of Social Media there is heightened awareness of the holidays that your friends are taking, their new house, to keep your sanity while living in this world..well here are the few smart steps:

  • Live far below what your income allows you to: there is no need to show off your style to anybody, and frankly NOBODY cares about what you do and how you live. Just remember however simple you get there is somebody in this country living on half that amount! So learn to live comfortably with your income AFTER PAYING YOURSELF FIRST. 
  • Gratitude: even getting up in the morning is a miracle. You could have died in your sleep. You did not. Similarly if you have a degree, a house, a job and food on the dining table, there is enough for all of us to be thankful. So keep saying ‘Dayenu’ – what HE has given us till today is awesome, and it is great EVEN if he gives us nothing going forward. So be thankful to Him, your parents, your employer, your friends, relatives, siblings, kids…OMG the list is endless. It is also a stress buster.
  • Put away money for your goals – if you are not putting money away for your goals, be clear that you are not serious about your goals. As simple as that.
  • You normally get poor by the amount of money that you save in a Sale! Make sure that you do not end up buying a lot of shit just because a sale has been announced. It is very easy on a sleepless 2 AM browsing session to find some unnecessary Tee shirt or a book shelf or something far more insanely expensive product suddenly available in a ‘deal of the day’ or some ‘70% off only this week’ kinda offer. Well 70% is not a bad discount – just find out whether you are REALLY saving 70% or wasting 30% on a product that you do not require at all.
  • Invest in Yourself and Your future: Invest in your knowledge, your health, your experiences, your travel, your work related learning, ..these are far more important than buying a house, car, and other things which you do not really need.  I am happy to see a generation today which is not so much into ‘owning’ but more into ‘experiencing’ and using. Far more sensible than our gen. If you owned a house or a car see the stress it creates – car security system, insurance, …etc…surely not worth it when you can get Uber or Ola to transport you. Invest in experiences and Joy.
  • Keep your investments simple: When you have money you need one savings bank account, one term insurance, one index fund, one credit card, …and beyond that say no.
  • If it is too good to be true…it is. Everyday I hear horror stories of uneducated people losing tons of money in day trading, FnO, IPO, chit funds. It is not funny. These horror stories include a doctor who lost Rs. 4 crores in day trading. A housewife who used her husband’s portfolio to pay for her commodity trading losses…and wiped out about Rs. 1.3 crores. I am no longer shocked..make sure that you or your loved ones are not falling prey to an idiotic Relationship Manager who has sales and revenue targets.
  • The best things in life are free. Just like air and water. God gives us many things – I didn’t realize this until having children of my own and experiencing first hand just how powerful that love and bond is.  This statement will come to fruition in others ways for others – I found it even when I was talking to patients with brain related illnesses / recovery stage. It’s important to recognize that money is just a tool to buy things you need, that is all. The best things in life really do come free.
  • It is best if somebody else pays for our children’s education: The best education that my niece got was in Harvard, and it was funded by scholarship! So if you can get scholarship for your children’s education, it saves you money and is a honourable thing to do! Recently a friend’s son won a 2 year MBA in a tourney organised by Unilever.

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  1. If I perform ”good job” in some sector, i don’t feel necessary to mention that topic was taught by my XYZ professor in college. Common man needs practical examples to understand finance.

  2. Hello Sir, Its worth reading out the rich experience which you are sharing.
    Wat I liked is -its very simple-achievable-can be experienced.I like the way you connect simple things such as ‘money is just a tool’ spending time with kids/family- it forms amazing beautiful world.
    Apart from teaching how to be smart on financials-you share us the why, wat for, how to ,when to and trust me these comes for experience or a person who knows life better.
    The more I read, understand and implement better the person I will be.

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