Putting Money to Work, an Introspection?

One of the reasons (not the only reason) that we work almost 9-10 hours a day is to earn money and livelihood for a better and secure future. One of the biggest ironies of life is though we work for Money yet we don’t dedicate enough time in understanding utilization of the Money. This is more like we are slaves of money, working for it, rather than make money work for us.

Try and introspect your inner self if we have ever thought of putting ‘Money to work’? Most probably yes, who wouldn’t like to have an assistant as strong as ‘Money’ to work for us? But having introspected have we really worked toward building such an infrastructure / environment around us to make this happen, most of us haven’t. Have we ever delved into why we haven’t yet started doing it, in 90% of cases its due fear of unknown (lack of knowledge in personal finance domain). Thus though we have an inclination towards creating wealth and future for ourselves most of us don’t really plan out the implementation / productive utilization of money.

I personally know lots of individuals who end up buying financial products that really is not in line with what/when/how they need to reach major goals in life. Majority of people that I have known don’t even know what financial product they have bought and what it means and how it will deliver etc. The single most common aim with which it was bought was for tax saving and/or just because a person (probably a close relative/ friend) has recommended it because he/she made some money and/or he/she is a financial product reseller.

Just think of it, we invest almost 300 hrs a month working to earn money, can’t we dedicate few hours in understanding underlying principle / fundamental of personal finance. I mean about couple of hours a week. This isn’t a big ask considering a third of our life (8/24 hrs a day) is invested in working for money. The source of information on personal finance is abundant. There are many good personal finance blogs on the web and many books available in market dedicated to personal finance. There is almost one article every day on personal finance every day in leading news papers.

One of the aims of starting this blog is to create awareness on personal finance front and I have already written quite a few articles in very simple and understandable language right from basics. And continue to do so...