In today's world, if you don't do your financial planning properly, which includes things like saving, investing, and managing your money effectively, your future life could be very difficult. Because of the way the economy is growing and the rising prices of goods worldwide, you should always have some savings, make some investments, and invest in stocks. You should put your money in places where you consistently get returns. This is very important because if you do all these things, you are making your future much more secure. Money plays a crucial role in all our lives, and most people spend their time simply earning and spending. But investing is extremely important in today's world.
In the past, people didn't have much knowledge about how to invest. They didn't know how to invest in stocks, or how to get returns on their investments, or even why saving money was important. Their concept was simple: if you earned ₹100, you spent ₹90 and saved ₹10. This approach is somewhat okay, but it results in very little savings, and you end up spending a large portion of your income. You should always maintain a purchasing power where, if you're earning, you save 30 to 40% of it, then invest 10 to 15% of the remainder, and live off the rest. This way, you'll have a substantial amount of savings and investments. If an emergency arises, you won't have to ask anyone for help. You'll have enough savings to handle everything yourself.
Savings are like a big brother to us, especially during financial crises or when unexpected problems arise in life. For example, a medical emergency or losing your job. In such situations, savings act like a big brother because if you've saved money—let's say you have enough savings to cover your expenses for the next five or six months—you can rest assured that you'll find a new job within that time. But imagine the problems you would face if you hadn't saved anything. You would have to beg others for help, which would be incredibly embarrassing. That's why I tell everyone I meet the same thing: savings act like a big brother. If you save money, it will be there for you during your time of need.
I've seen many people today who are afraid of investing because they think it's risky and that they might not make any money, or that it's like gambling. With investing, there's always a risk of profit or loss, but if you analyze and calculate the risks carefully before investing, you can make a lot of profit. You need patience and a long-term vision. You won't become a millionaire overnight. You need to keep investing your money and invest for the long term. You need to be patient, take calculated risks, and invest wisely. The real risk comes when you completely ignore investing, because that's a very bad thing to do. Invest a small amount; even if you lose it, it won't make a difference. Invest and hold, and you'll definitely make a profit because every big company today is bound to give you a return on your investment.
In the past, investing used to be very difficult. You had to go to the exchange market near you, like the BSE (Bombay Stock Exchange) or the one in Kolkata. In those days, you would get a physical slip of paper there, and then you would invest. It was a very long process. You would receive a certificate confirming your investment in a particular company. But nowadays, digital investing has become much easier. You just need an app on your phone. You can access it from the comfort of your home and invest in your preferred companies. You can choose any company you like, one you think will give you good profits, and invest in it. You can even start with a very small amount, like ₹100, and monitor your investment over a long period. You can track its growth, its ups and downs, and see whether it's making a profit or a loss. Everything is easily accessible. It's become so much easier compared to how difficult it used to be in the past.
Lastly, I would say that you need to do proper financial planning. For yourself, for your family, for your parents, for everyone. Because if you work smartly with financial planning, you will get profit and returns on your money, and you can also save. That's why all the successful people we asked have done one thing: investment and savings. Every successful person, whether they are millionaires or billionaires, has invested and saved. Because this is a very important thing, you should always invest and save. Invest so that if an emergency problem arises, or something unexpected happens, you will have a place, a source of money, that you can use. Savings are important because they act like a family member. When you face difficult times or problems, you can use those savings. That's why savings and investments will always be with you like a family member, because you will always profit from them.