Do You Waste Money?

Throwing Money away is a sin

Do you Waste Money? You will most certainly answer … No! Never! Of course not. Then again let me rephrase the question … Do you utilize your Money optimally ? Not sure…

By optimal utilization of money …. I do not mean that you go to a restaurant and finish off your food without leaving a single morsel… or you wear your shoes till the sole wears off.

Since childhood , we have been imbibed with the economic concept of Man has unlimited needs , limited resources hence optimum utilization of resources is mandatory . Then again we have also been taught about the Liquidity Preference Theory… where by we have a preference to hold money in cash or in our savings account … End result … Considering the present inflation rates …value of Money depreciates in Savings Account. Hence We have wasted our hard earned money.

So Any Way Out ?

Yes of course … nowadays as they say ‘Namumkin Ab Mumkin Hai’. So what do we do? Well one-word answer ‘INVEST’ …the ways of investing; well with the amount of information available on the digital platform we can write a thesis on it.

Save them for a brighter future
Penny saved is penny earned

The simplest way forward would be to find out your 1 month’s expenditure and ensure that you maintain amount equivalent to 2 month’s expenditure plus the average savings bank balance required in your account. So now what do we do with rest of the money ?

Simple again, invest about 30% to 40% of the surplus in Liquid Mutual Funds or any other short term Debt Funds. In any point of time, if you require money , you can withdraw with a day’s notice . Some funds even come with ATM cards … making mutual fund redemption a Child’s Play.

With your present consumption and future unplanned contigencies taken care off , you can now think rationally and invest the balance in investments of your choice and utilize your money optimally.

So now again re-iterating my question… will you still waste money ? The choice is yours…and so is the money.

One thought on “Do You Waste Money?

  1. Investing ? 100 % must & there is no doubt about it. There are different ways to invest, in fact it differs from person to person. But the way it has been defined here… I feel, this is the best way. Simple & hassle free. Great option…!!!

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