What is your relationship with money?

Ashok, studying in class VIII, plays cricket in the lane next to my Belapur, Navi Mumbai office. Last week he walked to me and asked “Can you please guide me how to make big money?” I was surprised and felt disturbed with this unconventional question. On detailed chat, I gathered that he is influenced by TV channel programmes on Cricket betting, Scams, and KBC and so on and so forth. Although I advised him to focus on his studies, I felt guilty by being a mute spectator on this changing relationship with money in the society today.
 I recollect the preaching’s of our Swamiji to the American audience in FM channel talks by asking those three questions; “Can anyone tell me if you will never die? After observing silence of the audience, he will ask the second question “Can anyone predict when you will die?” After observing further silence of the audience, he will ask the third question “Can anyone tell me what you will carry with you when you will die?” By these three questions, Swamiji has been able to bring home the point that peace and happiness is more important in life than focusing only on making money.  While we may aim for peace and happiness, we need to be more realistic. We have responsibilities and obligations to our children, family, parents and society. These have to be fulfilled in the background of our underlying values learnt from our child hood and our dreams. If you want to know what you should do, you should introspect and find answers to the following three questions:  Question 1: Imagine that you have enough money to take care of your needs, now and in the future. How would you live your life? Would you change anything? Question 2: Imagine your doctor says you have only 5-10 years to live. You won’t feel sick, but you’ll never know when death will come. What will you do? Will you change your life? How? Question 3: Now imagine that your doctor says you have only one day left to live. Ask yourself: What did I miss? What did I not do/ get? One thing is certain is that, you should have financial freedom to take care of your minimum needs in life and support your dependents. At whatever stage in life you are in, you can plan for your financial freedom in life by using money as means for peace and happiness and not an end in itself. A fee only certified financial planner or a SEBI registered Investment adviser can guide you in your financial planning process.

If you fail to plan, you plan to fail. Do not delay, start now.

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