Money Talks Weekly # 5
This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it benefits your dear ones.
What was your first salary per month ?
What is your current salary per month ?
This will help you understand, how many times you could multiple your salary ! If you had received 15,000 per month salary and now if you are earning 1,50,000 per month salary, which means you are earning 10 times of your first salary. But please check, how long it took to reach this current level of salary ? are you receiving of a 15 % per annum rise ? if yes, brilliant ! if not, you have to increase your productivity or change a job to match up a better salary.
But the question is not this, how much are you saving now ? when you have joined career, current salary must be your dream or beyond your dream. But are you able to save a decent figure now ? if not, whom you can to blame ? inflation, family responsibility ?
I think, better to own up this responsibility and look for ways to save more.
Look for a clear review and see, where all you can reduce your spending ? and is there any way you could increase your income ? could be part time job ? changing your investments or assets to earn income better.
Look for a financial planning session in your family meeting or check out a financial planning session with an expert !
You may be running a peaceful money life without thinking much, it is good time to pause and reflect.
Happy earning, happy savings !