Saving is the habit it does not depend on your income.
It is true that saving is a habit, it has nothing to do with your income whether your income is low or high. You must have seen that in our Indian culture, the women members of our house always save no matter what is the income in their house. be more or less
For example, if you get some money in the house, keep a little bit of it aside and this little amount turns into a huge amount in the future. This amount will be useful for some work in the future.
I learned this from my mother. I saw in my childhood that my mother never ran out of money. I did my education through my mother’s savings because whenever I needed money, my mother always had money and even today I had money at home. If any member of the group needs money, he always goes to his mother and gets it. I also learned this from my aunt, she also always has money available.
We all must save at least one-tenth (10%) of our savings, whether your income is low or high. Think like this, even if your income is Rs 20,000 per month, you can manage your expenses even if it is Rs 18,000. Even if it happens, you will be able to meet all the expenses of your house.
Therefore, we must save at least one tenth of our income, this will mean that after some time it will become a huge amount and the second thing is to invest it in the right place like SIP mutual fund PPF, Kamya Samriddhi Yojana or Invest in schemes like recurring FD which is safe and you will also get compound interest. And all these schemes can be done even at the rate of ₹ 500 per month. You do not need to save any huge amount for them and you will gradually develop the habit of saving and if your accumulated capital is more then you will be proud of yourself. You will feel this and you will always keep saving and in the future, if you have to buy a house or send someone for higher education or get married, you will always have money available for the work and you will be saved from getting trapped in debt and you will There will never be any tension.
For example, Mrs. Sudha Murthy, wife of the founder of Shri Narayan Murthy Infosys, told that Infosys was started with Shraddha Murthy’s savings of Rs 10,000.
When Narayan Murthy ji left his job and told Mrs. Sudha Murthy ji that I have left the job and want to start my own company. If Sudha Murthy ji wanted more money, she had 2500 income and had a saving of 10000, so here Sudha Murthy ji gave only 9500 to Narayan Murthy and saved 500 and you all know how big a company Infosys has become.
Therefore, we should develop the habit of saving so that your future is secure.
ARVIND