“ Tiny drops makes an ocean “
It all starts with a single drop of rain to form a mighty river, form a lake and join in an ocean. Even in life, many gets stopped by their own saying that, “I cant do this, because i haven’t tried and afraid of doing”.
Just alter your internal conversation, “ It all need a start and you can do that”. Particularly when it comes to savings and investing for your life.
Challenges in Saving ;
“Change is the only constant”, everyone of you can accept this point. Before 2000, there was no habit of spending a lot and the reason is simple we didn’t had internet.
Most of the income will go towards savings.
IT jobs and allied industries helped in increasing the economy of India. Everyone started earning a very good salary. People had lots of money and they started deploying it in Gold and buying real estate. Those who started earning in this phase of economy had purchased good amount of real estate which is generating rental income now. Slowly these changes had helped in the penetration of lifestyle products.
Good earnings had made all these lifestyle changes easier. Gadgets, internet, vacation, self grooming, luxury items etc had all became possible. This had created the peer pressure on others to live luxurious life.
There is no wrong in living life to the fullest but not at the expense of falling back to poverty. Many families who spent without any backups is living the mean life.
Living life to the fullest also means with no worries about money in your life.
Challenges faced by many with regards to savings,
High income, no savings
Enjoying luxury at the cost of savings
No future thoughts about planning
3 steps to stop dreaming and start saving ;
Abdul Kalam our loving ex president of India, said that “Dream big…”
I was using this phrase whenever i needs quote about dreams and achieve things in life. Then one day i saw his entire quotes on dreams which is “Dreams are not those which comes while we are sleeping, but dreams are those when u don’t sleep before fulfilling them.”
I could relate on these lines with so many people. I interacted with many people on their personal financial life. Most of their general needs will be kids education, marriage and their retirement.
Upon working with them, many will say that they want so much out of their life, but they got stopped their harsh reality. Their fear will stop them taking any action in achieving their dreams or goals.
If you really want to achieve any dream or desire in your life,
Follow the below steps,
1) Bring in the Intention to save
2) Be happy about your income
3) Start saving with 10%
Repeat until you are happy about your savings percentage