We all need money, for one reason or another. While many need it to satisfy some needs, some would like to invest, save, start a business and more, to multiply or guarantee its availability in the event of future need. Everyone is striving to make this much-needed money. In fact, much of our work, actions and tasks today are mostly geared towards that; making money off it or out of it. As much as this is the case, many don't get to make the money they need; to serve their desires and aspirations.
If I had 1,000 dollars today, what would I do? That's a question that not just I, but many people would love to hear in real life. We're not even talking about my local currency which is lower in value compared to the currency here. Running my calculations, that would be around 1.3 million in my local currency. Well, that's some good money to do something good. I have a list of things to do as I won't be channelling all that money into one thing.
First of all, I would save a good portion of it. This is for the sake of rainy days, considering what I'll be using the rest of the money for. Saving is considered a necessary skill in the world of finance. Saving money isn't just about preventing spending the money, but it's a necessary quality for financial management and stability. I'll be saving that portion of money through one or more reputable savings platforms or measures available. Anyway, part of that money will first go to savings.
I've been well interested in investment, and certainly, it's one of my financial plans. While I would do well to save a portion of that money, another portion will go into investment. Not just any kind of investment, but a well-analysed and strategic one. I won't really consider investment in the digital space at this point; say cryptocurrency, trading and the like. Agriculture and landed properties would be a major interest for me. In the event of such money, I know where to put a portion of it. While saving keeps the money for future use, investment will grow it.
As a firm believer in the work of charity, part of that money will go there too. I would have said I would wait till perhaps my investments grow my money then I can do donations and charity. But I've understood this in life; do with the little you have what you want to do until you have it big. So, I would put a portion of that money there to meet the needs of others since I'm privileged to have that 1.3 million plus amount of money. This, I consider as one of the most fulfilling ways to use money.
Lastly, I would get myself some good gadgets. As a technology-inclined person with some digital skills, there are devices I need. Having such money would mean getting me some of the gadgets. Not the most expensive per se, but something to serve me well for the intended purpose. Perhaps, this is me investing in myself in a way. Something which I believe after one or two years with the availability of the gadgets, I should make something good out of them and with my skills.
This is my response to the IndiaUnited Contest.