Take care of money, as it will take care of you
- 9 killed, over 40 injured as Bengaluru-Ernakulam Express train derails near Hosur
- SC says allegations grave, but grants relief to Teesta Setalvad in cheating case
- All you need to know about AAP's WiFi Delhi promise
- 19 killed as militants storm Shia mosque in Pakistan
- Modi’s cricket diplomacy: Renewing political contact with Pakistan
Why do we lose money? Why are we generally not happy with our financial decisions? Why did it have to happen to me? Why did it happen when I invested my money? The answer is really simple but it is going to be very hard to digest.
Either we are complacent or just that we do not want to take the effort. This is a plain cold fact. If I had to put a number to this, reasonable estimate would be 10 per cent Vs 90 per cent, ie 10 per cent people are just complacent, while 90 per cent just do not want to take the effort. What makes things worse is that these 90 per cent people want short-cuts. Just quickly give me an investment tip, what's the best investment, what's new these days, where can I get the maximum returns, what is safe but can give very high returns,
I have got so and so investment, what are the prospects, what is the future? These are normally the questions most people want to ask. Everyone wants a quick fix and no one is really interested in spending time or effort. What makes matters worse is manufacturers exploiting this and launching new products regularly.
Ironical that the manufacture now says things like, this product is better than ever before which in other words means what they were selling till now was not so good.
Remember there are no short-cuts and nothing worthwhile in life is ever free. The next time you get something for free, just pause to think if there is really much value, commitment and credibility if you were to act upon that piece of information. Rarely this is true; remember free information in financial matters can be grave. In my view if you want something, you have to work hard for it. Then you have to spend time and money. There is no other way.