Back in the good ol’ days, before the IT industry was blooming or a single member of the band "5 Seconds of Summer" was born, life was different. We were kids, blossoming under the guidance of our parents, who taught us many important life lessons, some of which made us better handlers of money. Some of these lessons were taught without a single word being spoken. Read on!
1. Hand-me-downs, because that’s the only way we know!
We all used books, backpacks, stationary, uniforms, bicycles, and more stuff, that had been passed on to us from our brothers, sisters, cousins or sometimes even uncles and aunts. Just dust them off once and they’re good as new! I’m not even exaggerating when I say some of us have read from textbooks that have been in our extended families for more than 5 - 6 generations. Perhaps when we have kids of our own, we’ll truly realise how much money we can save via the age-old institution of ‘hand-me-downs’.
2. Turn off lights when you're not in the room, because energy is money!
Back in the day, every time we'd exit a room with the lights on, we'd receive a gentle reminder to turn them off. I remember, my dad often quoting the saying, "a penny saved, is a penny earned," as he'd quietly turn the lights out. The saying and it's underlying sentiment stuck with me, so much so that I cannot leave any room anywhere without ensuring everything is turned off. He was right! That trick helped me save so much on my electricity bills.
3. When in doubt, cook, cook, cook!
We are a lazy lot that would often see fit in ordering out instead of preparing a simple, home-cooked meal. For our parents, however, the value of money over effort was far greater. And while we'd grow weary of eating in, they'd find newer and more interesting ways to ape the food that we'd so crave to eat. Now in the age of Pinterest and Instagram, we've learnt to prepare easy and delicious food rather than spend unnecessarily on take-outs. Besides, it hones our cooking skills so that we can show them off to our peers. Win, win!
4. What is broken, needs to be mended.
"A stitch in time saves nine" is one frequent lesson that was so beautifully taught that most of us will fondly look back at our childhood's and still be in awe. Our parents believed in mending what is torn, fixing what is broken, because if a little stitch or a little glue can make things run for longer, then, why spend money on buying a brand new one? So when they fixed our toys and removed our playful stains, they inadvertently taught us to value our belongings this way.
5. Always plan ahead, because that's how you will stay prepared.
If it was anyone who abhorred last minute plans, it was our parents. They not only taught us to be organised with events in our lives, they made us value the benefits of planning in hindsight. From taking a trip to making expensive purchases, planning ahead of time will always leave you with better options, they'd say. Even now, we book tickets for events way in advance and land such fantastic deals in the process. Thank you, mom and dad!
6. Saving early, because that's the only way we learnt to value money
Our parents gave us limited pocket money and made sure we had to work for it too. At first, it didn’t seem like enough at all, but eventually, we learnt to not just be content with the amount, but also save a little every month till we have enough to buy something nice.
These great lessons of life have remained with us and, in a way, have made us who we are. As a generation, we work hard and spend money only on the things that are worthy but also make sure that we save enough to fulfil our deepest desires. And to put our savings in the right direction is probably the most valuable lesson we have learnt. In that, one of the best ways to invest our money is in Mutual Funds. It's time we educate ourselves on how mutual funds can actually benefit us. With relatively lower risks and a potential to earn high returns, we can all feel comfortable that our money is in safe hands. To know more about mutual funds, click here. #MutualFundsSahiHai