Money is the one term which everyone in the world understands exactly in the same way. As much as some people think they don't want to depend on it, they need it, simply because everyone else know that language and you ought to know it if you need to survive. I don't consider myself a finance savvy person. What I mean is that I don't actively seek out ways to increase my wealth or diversify it or invest in stock market and what not. I just think it is too much work and don't see any point where you can justify stopping.
Though this may sound philosophical, the truth is it is very easy for the money that you have to tempt you to allow it to control you. I believe that you should be in control of the money. Saving is of course a great idea, but I wonder how things became so complex that it is almost impossible to make a really wise investment choice for the average man. Bonds, Stocks, Real Estate...the list goes on.
Many times, I have tried to keep up to date on the money matters, but I somehow have not been able to maintain that. I guess I am not all that motivated by just increasing my wealth or diversifying it, though the concept is great and there is value to it. What I regret is that these things don't take that much time, if you think about it. Just one good thing, done at the appropriate time can yield tremendous results. The key here is not to do research and find out what it is, rather it is "just doing it", like in so many other instances. For instance, buying a house when you can afford it, may be keeping the money in multiple banks with good interest rates, wise spending habits - these are not difficult things to do. But the truth is that I feel too disinterested in this stuff that I don't even allow myself to think about it for a second. But once you get serious into this business, I think your life will pretty much revolve around it. You would have to keep following the stock, read all the latest ways of investing, etc. Retirment investing is one thing that makes good sense to me. I think it is a great concept. Pouring money into the stock market is something I am afraid to do, mainly because it involves so much follow up and has its own time demands. However rich or poor you are, you can always allow some of your money to enter the stock market and see how it plays out. The deal is to follow the stock and may be sell it at the seemingly appropriate time. Tons of people have lost money. Few have made it big also. It is the big ones that people care about :)
I think I'd greatly appreciate if the barter system comes back into effect. "I have some excess tomatoes, so I'll just trade them for a few potatoes that you may have" kind of stuff. But may be money was just created for this barter system to execute in a fair manner. I mean, I'm definitely going to complain if I get bad potatoes or small potatoes in exchange for large tomatoes. There needs to be a uniform way of defining the value of a particular commodity. That's where the money comes in. This is all my theory, so don't quote me on these things. I am only trying to understand all of it myself.
For Indians who live in the U.S., there is a constant thing in them that demands them to look at what's happening to their home country. Are there ways to invest back home? How about starting a business back home? Or how about buying a house in Bangalore? These are probably nice ideas, but they'll remain just that - ideas, unless some big time action is taken for which most of us won't have the energy. I admire some individuals who care so much about their money that they'll figure out the best ways to save money in the smallest of their transactions. That is just some kind of talent/gift. But then the same people also typically blow it all up in traffic tickets and gambling. "Life will get averaged out", yes. So where do we start and where do we stop? Buying gold and stocking it is such a big thing in India (at least in the South). That's one way of investing money there. They believe it will come in handy during the emergency situations. Parents have long used this method to come out of tight financial situations or to help their children study further, etc. They'll never use it to fund their son's movie venture though :)
Well, there is no end to this stuff. Will try to write later.
Though this may sound philosophical, the truth is it is very easy for the money that you have to tempt you to allow it to control you. I believe that you should be in control of the money. Saving is of course a great idea, but I wonder how things became so complex that it is almost impossible to make a really wise investment choice for the average man. Bonds, Stocks, Real Estate...the list goes on.
Many times, I have tried to keep up to date on the money matters, but I somehow have not been able to maintain that. I guess I am not all that motivated by just increasing my wealth or diversifying it, though the concept is great and there is value to it. What I regret is that these things don't take that much time, if you think about it. Just one good thing, done at the appropriate time can yield tremendous results. The key here is not to do research and find out what it is, rather it is "just doing it", like in so many other instances. For instance, buying a house when you can afford it, may be keeping the money in multiple banks with good interest rates, wise spending habits - these are not difficult things to do. But the truth is that I feel too disinterested in this stuff that I don't even allow myself to think about it for a second. But once you get serious into this business, I think your life will pretty much revolve around it. You would have to keep following the stock, read all the latest ways of investing, etc. Retirment investing is one thing that makes good sense to me. I think it is a great concept. Pouring money into the stock market is something I am afraid to do, mainly because it involves so much follow up and has its own time demands. However rich or poor you are, you can always allow some of your money to enter the stock market and see how it plays out. The deal is to follow the stock and may be sell it at the seemingly appropriate time. Tons of people have lost money. Few have made it big also. It is the big ones that people care about :)
I think I'd greatly appreciate if the barter system comes back into effect. "I have some excess tomatoes, so I'll just trade them for a few potatoes that you may have" kind of stuff. But may be money was just created for this barter system to execute in a fair manner. I mean, I'm definitely going to complain if I get bad potatoes or small potatoes in exchange for large tomatoes. There needs to be a uniform way of defining the value of a particular commodity. That's where the money comes in. This is all my theory, so don't quote me on these things. I am only trying to understand all of it myself.
For Indians who live in the U.S., there is a constant thing in them that demands them to look at what's happening to their home country. Are there ways to invest back home? How about starting a business back home? Or how about buying a house in Bangalore? These are probably nice ideas, but they'll remain just that - ideas, unless some big time action is taken for which most of us won't have the energy. I admire some individuals who care so much about their money that they'll figure out the best ways to save money in the smallest of their transactions. That is just some kind of talent/gift. But then the same people also typically blow it all up in traffic tickets and gambling. "Life will get averaged out", yes. So where do we start and where do we stop? Buying gold and stocking it is such a big thing in India (at least in the South). That's one way of investing money there. They believe it will come in handy during the emergency situations. Parents have long used this method to come out of tight financial situations or to help their children study further, etc. They'll never use it to fund their son's movie venture though :)
Well, there is no end to this stuff. Will try to write later.
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