6 Finance Lessons from Mahatma Gandhi
Mahatma Gandhi's magnetic personality has many dimensions.
For more than a century, Gandhi's thoughts and philosophies have served as a guide to living a good and honest life. There are numerous interpretations of his words and teachings, and they all inspire individuals from all walks of life around the world.
On the occasion of his birthday, let us examine his sermons and see how they can guide us in our Investment and Financial Decisions.
Yes I get that. Gandhi and Finance in the same sentence may sound a bit odd. However, His life is full of examples of patience, self-belief, and perseverance toward the goal of independence, as well as some financial lessons for us.
So finally here are some extremely important investing lessons to learn from his life:
1. The future depends on what you do today.
Nothing will be changed in the future until something changes now. Take your first step towards attaining your FInancial Freedom. Warren Buffet, one of the greatest investors of all time, once said that he regrets starting late. He started investing at the age of 11. So, Start Early. Start Today. The amount does not matter if you have time in your hand. You can start with as low as Rs.500 a month and gradually increase your investments.
As Albert Einstein rightly said,Compounding is the Eighth Wonder of the World. Let compounding do the magic.
2. Earth provides enough to satisfy every man’s needs, but not every man’s greed.
One of the crucial lessons we need to learn as it stands true for almost all of us. Most of the time we have everything we require, but our wants seem to be endless. Consider Greed to be the first and most deadly sin of investing.
There is an old saying, The market is only driven by two emotions: fear and greed.
Many people will approach you throughout your life with schemes similar to25 Din Mai Paisa Double. Millionaires have mastered one key investing concept. They understand when to stop being greedy.
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3. Strength does not come from physical capacity. It comes from an indomitable will.
Financial discipline is being conscious about how effectively you can manage your spending, save money, setting aside money for purchases that will make a difference, and working towards the ultimate goal of financial independence.
BE CONSISTENT, EVEN IF YOU START SMALL SIPs are the most effective approach to build discipline in your investing journey by investing a set amount at regular intervals.
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4. You may never know what results come from your actions, but if you do nothing, there will be no results.
Most individuals lose sight of the larger picture and forget to consider their future requirements in order to enjoy the present.
Being an early bird not only allows you to be more flexible with your investments, but it also allows you to benefit from the power of compounding, which increases your wealth by a factor of ten.
The image above is a genuine representation of what you can achieve if you start and stick with it.
5. You don’t know who is important to you until you actually lose them.
We often consider Gandhian philosophies as being about great self-discipline, emotional control, and immense patience, as well as the ability to observe and persist over time and learn from the mistakes.
Any Investor who is investing in the Equities Market must have immense patience and a long time horizon to realise the actual compounded benefit of the investment made.
6. Live as if you were to die tomorrow. Learn as if you were to live forever.
One of the most inspirational lessons from Gandhi that can change one's life. Don't be afraid, try something new, Keep exploring. Similarly, don't be afraid of Investing. Be afraid if you don't.
These days there are multiple options where you can begin your investment journey with as low as Rs.100. (Digital Gold) You can start and keep learning new avenues to invest.
We hope this blog helps you learn some of the important life lessons and amplify your financial knowledge.
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