(The above video is in Hindi language and if you are not familiar with Hindi language, then read this post to understand the video content.)
Hello Investors,
In last video, "Amiri Se Introduction"(Introduction to be being wealthy) we have seen that richness or being wealthy is depended on 3 pillars; 1st Earn, 2nd Save and 3rd Invest. If you haven't seen that video then go to my Youtube channel and see it or click on the below link to read it in article form so that you can understand the concept fully.
In this video, we will be talking about the 2nd element that is "To Save".
See, I really like to talk straight forward in clear cut tone and in this video too I will be telling you the simple way how you can start saving money.
so let's start, Out of every 100 rupee you earn, you have to save 10 rupee and invest it. that's it. This is the biggest secret of wealth creation.
If you have to become rich then, you have to save 10% of your total income each and every time and don't worry its very easy to save 10% money. Its fact, If your household expenses are covered in 10,000 rupee monthly income or 50000 rupee monthly income then its will be covered in 9000 rupee or 45000 rupee too. It is possible. Its working. We have personally applied, implemented this concept and its working you should give it a try and I am sure it will work for you as its a universal rule.
If you still have doubts then let me explain you the same concept in different words, as it is right now corona pandemic period you would be able to understand even better.
Suppose, take an unrealistic example, for any known or unknown reason your salary is being cut by 10% salary then what should you do. Would you leave the job? I think you won't be leaving the job as you must be knowing that this is tough time and you won't be getting new job easily. And if you got new job then you might not like it. and even you like the new job then you won't be getting big salary hikes. so you will be doing the same job with 10% salary cut without complaining and that's fact.
Now think, logically.
If you are ready work with 10% less salary because of the external factors like Corona pandemic then with the genuine goal of wealth creation why you are not ready to save 10%?
So from today start believing that your salary is 10% less, and start investing this 10%. Now if you ask where to invest then the perfect answer that I can give you is, invest in the "Smart Mutual fund SIP" concept where I am investing my money and you can practically learn how to invest in mutual funds smartly... click on the below link to see the playlist of "smart mutual fund sip" by clicking below link
Few of you, might even say that I won't be ready to do job, instead they will change the job. Then I am having real world example that I want to share it. If you are government employee then you must be knowing that there are 2 times a year you will get salary increase as dearness allowance being given 1 in January and 2 in July month of every year but due to corona, this time dearness allowance has not be given in July month as government clearly stated that dearness allowance will not be given as part of cost cutting. And how many of you have left the job because of not getting the dearness allowance? No one! Right!
Means the reality is, we are ready to do the job with less salary too. And this saving 10% money is called the "Pay yourself first" concept and all the investors are following this and not only that all global governments are following this concept. Have you heard the word, Provident Fund, commonly used as PF. If you are not knowing this then let me show you with example.
See, you salary slip and in that you will find CPF or PF box there you will be finding the deduction of 10% (12% to be precise) of the basic salary. This is the amount that has been deducted from your salary and being invested and might be possible that you even don't know it.
You know the biggest hurdle that is stopping you being rich and wealthy is, not using the "Common Sense". From the starting of your job you must be having this 10% deduction of pf initially it was 12%. Means in front of your eyes this 10% rule is working, it was working in past as well and still you have seen it and still not applied. Global government gives pension and other retirement benefits using this 10% rule and this is the proof that this rule is reality and it works and all the employees who are has retired and got retirement corpus and pension of 40000 - 50000 rupee are live example.
Now think it this way, Government that has responsibility of doing each and every task of big scale for full country and if they trust this 10% rule then me and you can definitely make more wealth using this 10% rule. When government use 10% rule then they have so many rules and restrictions as they have to manage it nation wide. and when we use this 10% rule our self then we will not be having that many restrictions.
The biggest benefit that wealth created using this rule will keep growing even after the death of the employee. In case of government policy of pf pension is stopped or lowered after the death of employee; our wealth will keep growing with time.
So, from today itself, start using 10% rule and start investing.
So, that's all for now...
See you in the next video (article) meanwhile you subscribe to my Youtube channel and book mark this blog and other social networking sites so that we keep connected.
Till then,
Happy Investing and have lots of fun.