Five letters represent a liquid, transferable store of value used as a medium of exchange for goods and services availed by all of us. MONEY is a tool for us to get what we want.
And yet, some regard money as the root of all evil – that those who have more of it are in sin. For some, this theme is uncomfortable and they would rather not talk about it. These mental roadblocks have very real consequences. These beliefs may impede our ability to live comfortably, and the realization may have come in too late for us to do anything about it. History is also littered with examples of those swimming in wealth ending up poor. Inability to handle this tool may destroy much of what we hold dear. When we handle the tool right, we can set up ourselves and everyone around us to comfort. If only we are willing to listen.
Many of us fall prey to the belief that if only our paycheck was a little bigger, all our problems would be solved. America is the world’s richest nation, with 57% of all stock market wealth. And yet, 6 out of 10 Americans cannot afford a USD 1,000 emergency without going into debt. The average American earns far more than an average Indian does. So, your financial situation is more a function of your mindset than the amount flowing in on a monthly basis.
I’m Sudarshan. An Engineer (Mechanical, IIT Madras), MBA (Finance, IIM Lucknow), millennial from India with over a dozen years of Financial Sector Consulting experience. I’ve been lucky to be born in a family with a significant interest in Finance and my father has enabled my assets to grow wonderfully over time for which I am eternally grateful. Increasingly, I’ve been reading up (and listening on) the topic of personal finance. I notice simple principles guided by our tendencies and habits could secure our individual futures. I endeavour to document them here, and hopefully this would benefit others as much as crystallizing my thoughts benefits me. I could look at monetizing this blog but that’s into the future. I’ll try to stick to ~ 500 word posts to keep focus.
Personal Finance concepts and studies have largely originated in the USA, but the key takeaways are universal. I consider India a few years behind, so this enables us to follow the results of experiments in the US and to learn from them. I’ve focused on efficiencies in my professional career, and one of the key tricks is to not reinvent the wheel. An understanding of these universal concepts that many before us have formulated can enable us not only to fast track our own experiences, but also avoid the pitfalls and gain the benefits of hindsight that those who have trod the path before us have encountered.
This is going to be a sandbox, my experiments and thoughts in a quest for Financial Freedom. Hop along, let’s get started! We’ll figure our path along the way. It’s going to be fun.