Importance of money in our life journey –

v  What is money?

v  What our scriptures say about money?

v  How financial planning helps to control our emotions and help to enjoy our money?

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v  Our entire life revolves around money.

v  Money is difficult and highly emotional subject. 

v  Money managing is less about managing money and more about managing emotions. 

v  And there are many misunderstandings about money which disturbs our financial growth. 

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Now let's see what our scriptures say about money.....

v  1. Firstly, they have depicted Laxmi as a Devi and not an aasur. When we go to a temple we feel a sense of peace and security:

·   Do we get that type of security with the wealth that we create?
Or 

·   Do we feel fear, insecurity, anxiety, and greed while earning and spending our money?

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v  Secondly, they discussed about four types of wealth, not only financial wealth.

·   Physical wealth 

·   Social wealth 

·   Emotional wealth

·   Financial wealth 

  All four are important pillars of our life......for example 

·         Nobody can enjoy alone, even if he has crore of rupees

·         Fighting with relatives in court won’t  give us a sense enjoyment

·         Even though we may be wealthy, any health issues still disturbs us

·         And even if we have all - good health, family, social bonding, but no money to give quality education and life to our kids and family, we cannot enjoy our life.

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v  Thirdly, scriptures have written about how to earn and how to spend our money.

·         Money should be earned in an ethical way and in legitimate way.  

·         We shouldn't earn money by manipulating anybody and should pay our taxes legitimately.

And how we should spend our money? 

·         Enjoy money - Like a child 

·         Spend money - Like a youth, with full heart and emotions for our loved ones and society and don't be practical or calculative. 

·         Saving and investing - Like elders - It should be done like a mature person by giving full thought to our hard earned money.

·         Our major spending of money should be on timeless things ........like a weeklong workshop, lecture of famous personalities, vacation in nature and historical places because they all add value to our wisdom and personality and we grow from within.

·         Spending only on materialistic things like car, music system, gadgets, crockery becomes outdated one day and that gives only short term desire fulfillment.

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So if we really want to enjoy our wealth we have to follow a few disciplines with guidance from a financial planner –

·         Expenses – should not be more than 30% to 35% of our income, planner helps you to divide necessary   expenses & lifestyle expenses 

·         Loans - shouldn't be above 30% to 35 % of our income – planner helps organize Good loans and Bad loans

·         Saving - must be minimum 30% to 35 % of our income – Planner helps to maximize your hard earned money.... considering taxes, inflation and diversification. 

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And lastly, financial planning isn’t restricted only to investments…….it’s much more than that.
• Financial planning is a life planning in which we organize our dreams and responsibilities.
• Financial planning is a spending plan.
• Financial planning is deciding destinations and choice of vehicles for our financial journey.
• How we invest, multiply and enjoy our money is more important for peace and security in our life.

Wishing you all a wealthy and peaceful life.