Hello, everyone. Good morning. There's something which I read this morning about financial literacy. So this is what the Snippet was all about. If you cannot manage ten Rs0 then you cannot manage one lakh rupees. You don't suddenly lose. Learn how to handle money by amassing more of it. This is why a lot of lot of winners use it all. Financial literacy is not a side effect of wealth. Wealth is a side effect of financial literacy. Something very interesting. Right
Money is coming and going. And you need to know how you are managing. That part where you are spending, how much money is coming and where you can spend it, what you can save, where you can invest you need to have a basic idea of that. So that at any point in time you have a purpose with you. Even something called emergency fund. So that is how you manage your money. It's not all spending or all hoding. You have to spend and save
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Thanks. Miramam, I think you are very nicely put up about spending and saving and saving and spending. Yes, it's very true that we have to save first and then spend. But actually what we do is most of us spend first and whatever the remaining is, then we go and save or invest. I would say first we have to invest and then spend. That would be the right habit. Thanks for sharing your thoughts. Thank you
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Just to add on few more on this. Your mindset determines your financial future. Why? If a person has the right mindset if a as Rs. 100 he will turn it into rupees money. Zero. Suppose the same person in as a wrong mindset you will spend rupees under and also then borrow rupees 200 and spend that too, right? So having more money won't solve your problems. If your true problem lies in R, you use your money