Personal finance is most important for any individual living on this earth. Personal Finance is important because it teaches you the allocation and diversification of funds.
Below i am giving one reason, that will help you to understand the reason for Personal Finance and why it is so important.
We had clerk at our office who was in his late seventies. He looked like this
We used to call him Kaku. All his life Kaku was a workaholic. He started working since he was 20 and was working until recently when he decided to give up the job which paid him hardly Rs.6000 per month. That’s 50 approximate years of work.
Kaku educated his kids, helped them with their marriages and never thought once before spending a penny of whatever little he earned.
The result was rather disastrous. The kids never took care of him when Kaku became old and working constantly was mandatory for him to live a life with bare minimum necessities. When asked when he plans to retire, Kaku would always say that he would work till his body supports him.
People who have never thought of personal finance and what investment is all about will someday or the other lack the kind of independence which their counterparts enjoy.
Below i am giving one reason, that will help you to understand the reason for Personal Finance and why it is so important.
We had clerk at our office who was in his late seventies. He looked like this
Kaku educated his kids, helped them with their marriages and never thought once before spending a penny of whatever little he earned.
The result was rather disastrous. The kids never took care of him when Kaku became old and working constantly was mandatory for him to live a life with bare minimum necessities. When asked when he plans to retire, Kaku would always say that he would work till his body supports him.
Lack of Personal Finance can put you in such helpless situation
Had Kaku planned his finance and invested his little earnings in Stocks or some other ideas, he would probably have been left with enough money to avoid working this old. In his prime Kaku did earn more than 6000 per month but he never managed to plan for his retirement.Personal Finance is important because Money gives you independence.
Richest of the world enjoy the independence because they know what personal finance is all about. Having money in your pocket gives you independence. You need not buy all the stuff with the money, but the freedom and the thought that you can buy stuff with the money you have is amazing.People who have never thought of personal finance and what investment is all about will someday or the other lack the kind of independence which their counterparts enjoy.