Folks,
Last post for 2009.I thought i will write on something that i learnt. May be a small blog.
About a couple of years back one of my colleague and a friend of mine Venkateswaran (aka Venkat Anna) gave a piece of advice that you need to save some money every month and need to have about 50K in your account i.e. liquid cash always.
I did not understand the significance of that advice at that moment but decided to follow it because some one had taken time to give me advice.
How right he had been ,last couple of weeks has thought me why that should be done by every one.
I had been entrusted a task of taking my team for an outing ,first time where instead of my organization spending , i had to spend first and had to get the entire cost reimbursed later.This was also the first time where i am doing such a thing.
The cost was a lot and it had to come from my pocket first to pay out all the advances. It was such a coincidence that i listened to that golden advice of saving money ,which was the only thing that bailed me out of sheer embarrassment from telling people that i don't have money so cannot probably take you out,if we can pool in money and then we can claim it,would not have been nice to do that to your staff.
Golden advice. It is in fact golden advice for many people . Saving money does help.
Looks like this advice also holds good for the economy ,instead of working on credit if we do look at balancing our expenditure and saving life could be much better.
Infact it isn't too late even if we start now , we should be able to avert ourselves individually from the crisis like the one that swamped us last year and also whole economy could be saved .
Of course i am no economist and there are better qualified people who can write with an lot more acumen but i feel that this simple advice does make sense. One cannot live on credit and if some one is trying to do so , its just calm before the storm and disaster in waiting.
Signing off for 2009,wish all my followers and everyone else a very happy and a prosperous new year.
See you all in 2010.
Save money. All the time. And more importantly, invest the same, so that your saved money can grow over a period of time. Make your money work for you.
ReplyDeleteWish you and your family a Merry Christmas and a very Happy New Year!
Oh Navin, nice to know that my advice helped you and more than that you followed it.. the successes of advices lies in the acknowledgements like this. Thank you!!
ReplyDeleteAs Suresh has written, it is not only important that you save but invest it prudently to make it grow. There are avenues for investment and I am sure you are already doing that.. If not, start now..let me know if you require any help.