Budgeted EncountersMoney | September 12, 2011 at 12:30 am
And as the umbrella swung in the air, I took pride in myself with the lovely target that I could achieve. Yes, monetary benefits are best when you achieve what you target for. I had targeted to get a silver umbrella for the Ganesha idol that I have in my house. And I got it – at my budgeted price. Nothing more nothing less. With the rate of gold and silver increasing by the day, it had become out of reach for me. I had thought of buying it five years back but I kept procrastinating . This is the first rule
Never ever procrastinate when it comes to monetary matters. You could postpone buying a designer dress or even a good piece of furniture. But never ever compromise on money matters. I did , I procrastinated and I paid a heavy price. What I could get at a much lower rate five years back, I got the same for ten times the price today.
Then again it matters whether you would buy when the price becomes tenfold. Yes, you should. Whatever the price rise be, the investment should never stop. This is because what you save today is going to be beneficial tomorrow however small and amount. Even if the umbrella cost 10 times more today, I didn’t hesitate to get it this time as I felt it would now or never.
Rule No. 2 is never ever hesitate to invest. It might not be as beneficial as it should have been yet it is the only way you could start. It is the starting point of a race that is important. Unless you arrive at the starting point how would you be part of the game. In life, there are two types of people – the audience and the players. The players play the game and do not care for the results. The audience watches the players play and comment on their performance. You have to decide whether you want to be the audience or the player.
Financial investments are a part of our life and they form the backbone to our existence. The amount is not important, the action is. So budgeting wisely is important and ensure that you get into the habit of investing in the right thing. These days with the price of gold and silver increasing it is a prudent habit to invest in that. Don’t panic if the price you bought it for, falls. Today it will fall, but the best way to invest is to wait over a period of long duration so that it will withstand all the rises and falls and then eventually stabilize.
Budgeting could be imbibed even in the kids. It is okay to say a No occasionally and make them realize the value of money. Budgeting encourages children to value money and they begin to understand that nothing comes without a price. So invest well and wisely.
With the rules of budgeting finely ingrained in your grey cells, just go and take a survey and invest in what you feel is secure.