Tuesday, December 14, 2021
Economic Discipline
Economic Discipline
We hear a lot about discipline and we hear a lot about money . I have seen miser people , spend thrift and so on but very rarely we come across people who are economically very disciplined and know when to spend the money and how to take economic decisions .
The first principle which i have learnt is to value small money. We should be into earning but more than that we should know how to respect what we have earned. If we don’t know the respect for money which we have earned then even if we earn a hell lot of money we will not know how to spend it .
Secondly it is more important to know ones own economic status and take life decisions according to it . We should know our own needs and make spending decisions according to it . We should not get swayed by others . Our spending priorities should be ours and not guided by someone else’s lifestyle.
Thirdly we should believe in small savings . Such savings teach us the importance of money and build up our capital base with out being even aware of it . Slowly but steadily we will realize we have build our own fortune . Fourthly we should spend when the expenditure is genuine even if the amount is high . Many a times we shy away from spending even if the time demands so .
Fifth but very important we should pay our debt as early as possible . Debt clearance is mandatory and even if we are going hungry we should pay our debts as early as possible .
We should value work even if it is small . Work if converted into money adds to a big sum .
Economic independence is a must for one and all .
-Mamta Mehrotra