Do you earn money to spend and baaki jo bach jaata hai, you save? If you have no money left, nothing gets saved. Or are you the kind of person who first, saves from your earnings, and baaki jo bach jaata hai, you spend? Dono approaches mein zameen aasman ka pharak hai.
Let’s understand both ways of savings in detail:
First option you earn. You save. Whatever is left, you spend. There are many advantages to this style of thinking and functioning:
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Financial security
If you have money saved, then you can use it in case of unexpected expenses, emergencies, yaa phir agar naukri chali gayi.
Future goals and khwahishe
Saving money lets you plan for a bigger and better future. For example, if you save well, you can buy a house sooner or even start a side business. That can get you extra income. You can use your savings to give your children a better education. You can make better retirement plans. Jab jeeb mein paise ho, toh you can think and plan your future better.
Paisa paise ko kheechta hai
If you invest your savings wisely, you can earn more by compound interest. You can also invest and put your money in the stock market, bonds and mutual funds. It is all about how smartly you wisely you invest your savings. Kabhi kabhi, these moves can make you a lot more money than your salary.
Grab good opportunities
Let’s take an example - say, you want to buy a new television set. Suddenly, you come across an ad where you can get a huge discount for a new TV set. Sirf thoda down payment dena hai. If you have saved money well, you can grab this golden opportunity immediately. You can do such things only when you have a saving mentality.
Peace of mind
This is most important - mann ki shaanti. Agar aapne kaafi paisa save kiya hai, toh aap raat ko chain ki neend so sakte ho. Even if there’s an emergency, you know you have the money to take care of it.
Retirement planning
You can work only until a certain age. Budhaape mein, what will you do when you can’t work? Iss liye, saving for retirement is crucial to ensure a comfortable and secure future. If you start saving early, your money will get you more money. Phir, budhaape mein, aap aaram ki zindagi ji sakte ho.
Saving money ka yeh matlab nahi hai ki aap accchi zindagi na jiye. It means you find a balance between your current needs and future financial security.
Read Part 2 (click on the title below)
