Mahatma Gandhi, known for his messages of truth and self-reliance, has numerous facets to his charismatic personality. His life is full of examples of patience, self-belief, and persistence to the goal of Independence, with some financial lessons for us too.
On the occasion of his birthday, here are a few of the Mahatma's mantras to keep in mind before making financial decisions:
The future depends on what you do in the present
It is perhaps one of the key financial lessons from Gandhi, who led the Salt Satyagraha (1930) with tenacity, keeping in mind the independence dream. Often people tend to postpone investment plans for tomorrow and enjoy their earnings “today”. But only the decision to bring in financial discipline today will bring prosperity to us in our future.
There is more to life than simply increasing its speed
Gandhi’s sole goal was to free India from the British Raj, which he achieved after several years of patience and perseverance. Similarly, you must make steady and diversified moves to achieve your financial goals. It is a good idea to keep definite short and long-term financial goals.
The world is sufficient for man's need but not for man's greed
The desire to make a quick buck may lead people to fall prey to dubious schemes that promise great returns. Such impulsive investments can drain your funds. It’s always good to invest in fundamentally solid stocks after balancing the risk-return ratio.
A living faith will last during the blackest storm
The freedom struggle went on for decades, and Gandhi faced a lot of challenges. But he did not lose faith in his belief that India could be free again. Even the road to achieving your financial goal is full of ups and downs. You must always have faith in your conviction. While investing in the stock market, you must keep the hope alive during difficult market conditions and identify mistakes as early as possible. Gandhi often said that freedom is of no worth if it does not allow you to make mistakes.
Whatever you do may seem insignificant to you, but it is vital that you do it
Your decision to invest Rs 500 per month at the starting of your career may seem insignificant to you, but you will be surprised to find out the amount you have accumulated over the long run. The steady investment will inculcate financial discipline and prepare a safety net for the future. During his life, Gandhi adopted a simple sure-footed approach to achieve his goals.
Strength does not come from physical capacity. It comes from an indomitable will.
You must learn to face financial adversities and short-term losses to achieve the long-term goal of high returns. Gandhi, who lived a life of self-discipline, had a strong will that helped him tide through tough times. Investment goals are not easy to follow but investors need to stick to their commitment, despite everyday pressures.
*Note: We’d like to give credits where it’s due. Thank you Deccan Herald Web desk for an insightful article.
Comments