In India, the working class is majorly divided in two sections.
First , are the one’s that believe in spending whatever they earn and enjoy the present at most.
The other group of people believes in saving a part of their income for the unforeseen circumstances and with a hope to fulfil future goals like buying a house, car or retirement planning.
Now the people who spend all of their earnings find themselves in a difficult spot at the time of any unforeseen circumstance and regrets not saving.
What about the group of people who save a major part of their earnings? Are they able to fulfil their goals? The answer is “NO”.
Here comes the role of inflation. Inflation is the rate at which price of commodities increases and value of money decreases. So, instead of just saving, we should start investing in order to fulfil our financial goals and be financially independent.
Saving is important but more important is that we invest because money will not grow unless we will invest more and more . Also one investing should be in different schemes as well as plans .
“If you do not make money while you sleep then you will have to earn till you die ” . These are the most true words said by some great expert . But it would be better if we practice the same in our daily lives .