How I learned savings in my young age. | Money saving tip.

 

 

     There is no right age for saving money. When you were a toddler, your parents must have already started saving for you. Now, you are at that age where you understand the concept of saving. You can start right away.
 

        I remember when I was very young my parents bought me a Gullak (piggy bank). It was made out of tin (not a regular clay vessel). My parents were wise enough to share the lesson of savings with me. They regularly gave me some pocket money with a condition that half of the money must go into gullak. I always use to put half of my pocket money in gullak. Rest of the money I spent and left everything I put again in gullak. This habit developed a sense of saving inside my mind. Which tremendously helped me in my coming years. So, one by one I filled 5 gullaks with hard cash. They were very heavy to carry.
 

 

        In school, my classmates came on a bicycle. I had desire of having a bicycle. I asked my parents to buy one for me. Parents told me you can buy it by yourself. I was confused I didn't know how it is possible. My father pointed out to towards gullaks and said there lies your answer. My father broke 3 of them and took out the cash. My eyes were wide open. I was in shock, I had never seen this much money in my life and it all belonged to me. I felt like I am the richest person in the world. That money was around 2000 rs (value of 2000rs meant a big deal in 1997)
We went to a cycle shop I selected the one all agreed on it. The price of it was rs2500. I gave 2000 and the rest is given by my father. I rode it to my home. It was like riding a Mercedes for me. 

        Great pleasures come from small things. Never underestimate the power of small. drops of water create oceans.

You see, savings can create unimaginable luxuries. A small amount will be converted into a huge sum of money. Start early as possible.
Tips to keep in mind.

* Save and forget (until you need).
* Get the knowledge between needs and wants.
* Increase saving amount over time.
* Investing is as important as saving.
* keep in mind the power of compounding.
* Don’t just save, spend and enjoy.
* In the end happiness will matter more than your savings.

Thanks for reading and learning.