Whenever I talk to people at various levels..they all say the same thing “I agree with you, but Subra I have no money to save, believe me”.
Once upon a time I would get into an excel sheet, these days I just move on. “When the time comes, the Guru will find you” is my simple philosophy. Makes no sense to drill ‘saving is good’ into people’s brain. THEY KNOW IT.
It is just that they are choosing current consumption to future consumption, that is all.
When people choose a Bahubali movie over a Rs. 500 sip, it is their choice.
When people choose a trip to Goa costing Rs. 20,000 over a Rs. 2000 per month sip, it is their choice.
When people choose a trip to Spain costing Rs. 350,000 over a Rs. 30,000 per month sip, it is their choice.
What is the role of an IFA, or even a blogger like me in such cases? Nothing, just to tell them that their ‘I’ve no money’ is not true. It is just that they have chosen to ‘prioritize Bahubhali, Goa or Spain’ -over making that sip / investment.
What I can do (or the IFA can do) is to say “do not say I do not have money”. Say “Right now, my priority is to ……(watch Bahubali, go to Goa, buy…..)..and I have postponed saving/investing for my child’s education, buying a house, retirement, parent’s medical insurance….” . Say it out loud, write it down and see how it feels.
If it feels good, it means it is true. If it is not feeling good, ask your spouse…’is it true’. Do what your heart says or what your spouse says. Remember all your goals are JOINT GOALS.
YOU are just choosing the money priority.
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