I have been discussing with people enough about the savings/ investing. People also have realized why it is important.
After all, why are we working so hard? To fulfill our bigger dreams. Isn’t it?
All right, somehow reluctantly people said OK to save some money out of their salary but ever wondered,
is our current savings enough to fulfill our dreams? If not, why? (I know we dint get enough hike). It’s just lack of systematic goal setting
Is your goal SMART Enough (Specific, Measurable, Achievable, Relevant, Timely)?
I recently met an old friend who earns 15k per month and wants to own a 3BHK flat in Bangalore in 3 yrs.
I asked him how much have you saved until now, for which he answered 10k in 2 yrs.
The very first thought, which came into my mind, is how he is going to achieve it.
I also met a lady who says she wants she wants 800,000 for her child’s education.in next 10 yrs.
She has been earning 35k/month and saving 10k per month.
I appreciated her efforts. Moreover, I wished her good luck.
Do you see the difference? It is all about how clear are they about their goals, and how systematic the woman is.
I know people complain of having lack of time and patience for this. However, somewhere I read
over pessimism will kill your present & over optimism will kill your future.