Saturday, August 16, 2008

Mom’s Teachings; Always Helpful

Yesterday was my mom’s birthday. Birthday’s are some how special, at least of special people. While coming back from her place I was thinking about all the impact she has on my life. From cooking, to reading, everything that today I am capable of doing, has her impression. Infact, sometimes I feel that whole of my life has huge impression of her. The bond of, mother and daughter is special, and ours is not at all different.

How I spend money and how I save my money is again something I have learnt from her. She was a full time house maker and for me she was a perfect one. She taught us many principles of wealth management that form my basic principles of wealth management. Among many of them, few of the important lessons I learn are:

1) Regular earning is important. So keep on learning new skills so that you can keep one constant source of income.
2) Never spend all that you earn. Always save something for a rainy day, no matter how small that amount is.
3) Never let your savings sit idle. Invest them in a way so that they are adding to your income.
4) Be frugal when it comes to spending.
5) Buy the best thing at first, so that it has low maintenance cost.

Thanks mom. All the learning’s are important and I am fortunate enough to understand their importance.

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