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  • Category: Miscellaneous

    It always pays to learn big lessons from mistakes made

    It is always wise and prudent to learn from mistakes we do and what others who are close to us also do; for example, we have someone who quits his job so often but lands only in dead-end jobs where the nature of work does not change at all; or, we have someone who allowed the better of temptation overtake him and became corrupt. In each of these two examples, the "what if it were me?" needs serious consideration. In any case, the pay-off would have been negative; the implication is that we should never do such mistakes.

    And then planning for the very long term. Around four decades ago, there were several well established co-operative banks that were ready to accept deposits for two decades. Those who took advantage of such opportunities and had pumped some Rs.5000 into long-term fixed deposits at 10.25% interest for 20 years, are now happy. The rules have since then changed. Yet,even today it is vital to advise every young man who is just 22yesrs and into a decent job to open a NPS account and PPF account and save for the very long term. If the young do not do such wise things now, they will land in a trap similar to thousands who would not have enough during their old age. The list goes on and on.
    If the same mistakes were to be done by us, it does pay to rectify such mistakes right now.
  • #717183
    Saving habit is always good and it should not be forced on the people as they must realize small savings every month lead to a formidable amount to realize at the later date. The present day generation are earning good salaries and perks and want to enjoy the life in full not realizing the fact that future has to be secure and none would come for help. They spend on week end parties and outing for no reason and every season which is a wasteful expenditure that can be saved for future, No doubt enjoyment of life is must but that should not be the criteria always and the peer group with us should also be made to realize the importance of saving money for future. People are not interested to save in banks with meager interest instead they want to put money in real estate and shares that are risky factors.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #717188
    In our lives earning as well as planning for our future both are equally important matters. Some people believe in living in today and spending whatever they have by indulging in enjoyment and fun. But in their late age they repent for this lack of foresightedness. Financial experts suggest that one has to manage within ones means and should not go beyond the limits as it will ruin the individuals financial health. We have to take these suggestions very seriously. As a matter of fact it is told that an earning member should aim at least 30% of ones earning to keep in savings preferably in high return areas for a long time. He should treat this money as not available with him and try to manage in the remaining. In long run it will help him only to have a healthy financial background.
    Knowledge is power.

  • #717193
    Saving is very important for all of us because it is important for us to keep pace with the changing nature of the era. At the same time, it is also important to save your hard-earned money from extravagance. Time never comes by saying, so we should be prepared in advance for both good and bad times, so that there is no such thing that we have to spread our hands in front of someone for money. It takes a lot of time to earn money, but it takes less than two minutes to lose it. If you want to protect your money, then you have to make a budget. Initially, you will find this work very difficult but gradually you will become accustomed to it. Money is such a thing, which is very important in our life, so along with spending money, keep some part of it safe, so that any disaster here, the money will be useful for you.

  • #717195
    Our mistakes are always helpful for us in future provided we should learn from them. In life we commit mistakes unknowingly and when we know that we have committed a mistake we repent but repenting for it is not a solution but we should learn from it and let that mistake not happen in the future again.

    Savings are always important in life when most of have a private jobs and have no pension when we retire from the job. So we must save money to use it in old age.

    I have a NPS and PPF account and it's useful . Those who don't have it should open it as soon as possible.

    Even a student learn from exam by exam and try not to repeat the same mistakes in the final or board exams. So in life too we should be practical and should always learn from our and other's mistakes.

    Sanjeev

    " The two most important days in your life are the day when you are born and the day you find out why? "
    – Mark Twain

  • #717225
    To err is human. This is very commonly known. But an intelligent guy will learn from the mistakes committed by him and also from the mistakes committed by others also. They will understand how to avoid those mistakes and thus improve their performance. It is foolish if we don't realise the mistakes committed by us and repeat the same again and again.
    Depositing the money in the banks for longer duration will give higher yields. But many people will not do that thinking that they may have to draw that money in between. Many times people invest for a lower period only. But really if everybody starts depositing for a longer duration the banks may come out with flexible rates of interest like what they are doing for loans.
    I agree with the author. The youngsters who have further service of 20 or more years should start investing in PPF or NPS so that they will get a higher rate of interest.

    drrao
    always confident

  • #717244
    Sirs, sometimes the IIM and ISB guys start behaving as if there is no tomorrow. It does not strike them that they will also start ageing and will require their own parents to take care of their children and so on; it is also not in their agenda to have compassion for the poor.

    The people who are giving others a big damn today will slowly realise their foolishness when they are also 50 years old. They will no more be in secure jobs as the trend is go in for youngsters; even those who are professionally qualified may be forced to simply act as consultants since the entire world will give opportunities to anyone who is a maximum of 45 years old. The decades to come will have new challenges. The old people will positively not be around to guide the youngsters who do not seem to be understanding facts of life.

  • #717246
    The author is absolutely right that we should learn from our mistakes. But sometimes, we do some unforgivable mistakes which change our entire life and despite using all abilities of forgetfulness they instilled in our mind deep down that we are unable scratch them off.

    I agree that we should save some good amount of money which could be helpful in our old age. Time has changed, most of the people are not treated well in old age by their sons and daughter in laws. In this situation savings works a lot for an old man.

    What he has written about IIM students is a fact but it's related to all branches If modern education system that they are raised as professionals who have no place for compassion and kindness in their hearts for doawntrodden people.


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