SAVINGS AND HAPPINESS

For the pursuit of any financial goals, be they financial security, freedom or inclusion in the Financial system, the basic requirements are of saving a part of your income  and investing it correctly. Every one makes a beginning to earn income at some point in his life and that has to be the time when he must start saving. Some times I am asked by people how can they save when their income is so less. These are surely not the hand to mouth people, I remind them of the time when they had no income. If they survived that stage surely they can manage with a little less of their income and save. This is required if you want happiness in life as savings give happiness and debts and loans work the other way around and become a debt trap for many if they have gone wrong in calculating the risks involved while taking loans and its utilization.

To be able to save one needs to control his desires as will become clear from the way I like to define the happiness index.

Happiness Index= No of desires fulfilled / total number of desires * 100

So its entirely in your control to be 100% happy if you control the denominator or close to it.

The way is to gradually increase your desires and progress in life being more happy and does not mean that you should not have ambitions or desires. This way you can save and still be happy in life.Why let desires you can not fulfill destroy your today’s happiness for the pipe dream tomorrow.Do have a few reasonable desires which motivate and spur you to positive action and work to achieve them diligently. This way its possible to live life at your selected level of happiness say at 75 to 80 % or 100% what suits you the best.  

Separation of business income and income required to maintain and support your family is required for those in business as every business has its inherent risk associated with it and risking family home or land as mortgage for business loans is a common mistake which exposes the families to financial hardships. Term insurance covers the risk in the extreme case of death but households need to be insured from business risk by prudent financial planning .I will like  to discuss more about it in some later blog and will also like to discuss how achieving freedom form “Kriya” (working and earning for the livelihood of family)is the first step to be able to do any “Karma” ( selfless public service ) in life, this is required to make your life purposeful one.