Hey Guys,

Q to all of you - What is the Best use of Money ?

This Question is bothering me from some days and I am thinking about it day in day out. I would appreciate if fellow members on IREF shed some light on it - As what they think is the best use of money ?

This is what i have come up with so far & still looking for true enlightment -

This is where Money should be use the most in order -

1) Education
2) Helping people who are in real need
3) Eat Well
4) Travel the world with family (Including Parents)
5) Hire the best expert (for swimming/yoga/gym etc etc )
6) Library
7) Setting up a social enterprise

What else ?

Please dig deep within yourself and reply. This could be the key of enlightment for many.

PS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karna dostoon .......please.

:-))))

Regards
Sbajaj




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  • Originally Posted by sbajaj
    Hey Guys,

    Q to all of you - What is the Best use of Money ?

    This Question is bothering me from some days and I am thinking about it day in day out. I would appreciate if fellow members on IREF shed some light on it - As what they think is the best use of money ?

    This is what i have come up with so far & still looking for true enlightment -

    This is where Money should be use the most in order -

    1) Education
    2) Helping people who are in real need
    3) Eat Well
    4) Travel the world with family (Including Parents)
    5) Hire the best expert (for swimming/yoga/gym etc etc )
    6) Library
    7) Setting up a social enterprise

    What else ?

    Please dig deep within yourself and reply. This could be the key of enlightment for many.

    PS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karna dostoon .......please.

    :-))))

    Regards
    Sbajaj







    u will never find a answer if u ask people...
    u have to find it inside you...
    i hav'nt found it yet..neither i hope to.
    CommentQuote
  • Originally Posted by sbajaj
    Hey Guys,

    Q to all of you - What is the Best use of Money ?

    This Question is bothering me from some days and I am thinking about it day in day out. I would appreciate if fellow members on IREF shed some light on it - As what they think is the best use of money ?

    This is what i have come up with so far & still looking for true enlightment -

    This is where Money should be use the most in order -

    1) Education
    2) Helping people who are in real need
    3) Eat Well
    4) Travel the world with family (Including Parents)
    5) Hire the best expert (for swimming/yoga/gym etc etc )
    6) Library
    7) Setting up a social enterprise

    What else ?

    Please dig deep within yourself and reply. This could be the key of enlightment for many.

    PS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karna dostoon .......please.

    :-))))

    Regards
    Sbajaj





    1) living a good comfortable life
    2) being prepared for costly medical ailments
    3) travelling the world
    4) being in demand from the opposite gender ! :D
    CommentQuote
  • The best (and ONLY) use of money is to be content with oneself. Everything that has been stated so far works toward that purpose. If you/I/we learn to be content with ourselves WITHOUT money's help that brings true happiness.

    Money alone never buys happiness or anything on any endless list.

    Thoda deep hai lekin sochiyega.
    CommentQuote
  • There are really only five things actually, u can do with your money -

    -Earn it

    -Spend it

    -Save it

    -Invest it

    -Donate it



    There is one more ( actually )-

    - Waste it



    I had read this somewhere long time back ( had noted it down ) -


    All money is God’s money; you are the stewards so don’t hold on to it too tightly when he is trying to teach you to live generously. As the Bible says, those who sow generously will also reap generously.
    CommentQuote
  • Best use of money:
    1) Invest 30%
    2) 15% is for luxuries of life(Its a relative thing, for some smartphone is luxury n for some private jet)
    3) donate 10%
    4) 40% Household expenses
    5) 5% cash at bank.
    CommentQuote
  • Originally Posted by sheeshu
    The best (and ONLY) use of money is to be content with oneself. Everything that has been stated so far works toward that purpose. If you/I/we learn to be content with ourselves WITHOUT money's help that brings true happiness.

    Money alone never buys happiness or anything on any endless list.

    Thoda deep hai lekin sochiyega.


    agreed .. lekin bhagwaan naa kare koi badi bimari ho jaye toh money se hee hum usko fight karke apni inner happiness wali life ko end hone se stop kar sakte hain ! :)
    point is that money is not everything but is still important nonetheless
    CommentQuote
  • I had read somewhere on IREF that money cant buy happiness but it is easier to cry in a bmw than crying in an alto..
    CommentQuote
  • Originally Posted by sbajaj
    Hey Guys,

    Q to all of you - What is the Best use of Money ?

    This Question is bothering me from some days and I am thinking about it day in day out. I would appreciate if fellow members on IREF shed some light on it - As what they think is the best use of money ?

    This is what i have come up with so far & still looking for true enlightment -

    This is where Money should be use the most in order -

    1) Education
    2) Helping people who are in real need
    3) Eat Well
    4) Travel the world with family (Including Parents)
    5) Hire the best expert (for swimming/yoga/gym etc etc )
    6) Library
    7) Setting up a social enterprise

    What else ?

    Please dig deep within yourself and reply. This could be the key of enlightment for many.

    PS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karna dostoon .......please.

    :-))))

    Regards
    Sbajaj






    If you have surplus money, The best you can do is to help others who are in need. Also have a holy trip with your parents. In whole life after money , we won't get time for peace.
    There are some things in life which you can't buy, for rest is taken care by mastercard. :D
    CommentQuote
  • All the uses of money that you have listed are perfectly valid but I would like to share a rew random thoughts even though it might seem that I am going off a tangent.

    My thoughts are inspired by Alain de Botton's Consolations of Philosophy ( a splendid read), in which he talks about Epicureanism.

    My view is that we should use money to be happy, even though conventional wisdom tells us that money can't buy happiness ( and the best things in life are free)

    To be happy we need

    1. Fulfill basic needs: pleasure as absence of suffering . A modest amount of wealth can make us happy , the problem is that happiness does not increase incrementally with wealth.

    2. Company of friends: Think of all the NRI's who have a lot of material comforts but still yearn for the motherland. Think about the people who sacrifice a lot in life to save money and build a big house but the people who they wan't to share this with i.e. parents are dead.

    3. Freedom: Work is important as it gives us a sense of self, a good structure to our day and is vital for our self esteem. The trouble is that most of us are slaves of a system that expects us to work to pay for our way in life. Wouldn't it be nice if we went to work for the love of it rather than the need to pay our bills. Money can facilitate this.

    4. Ability to think: Use money to buy the best education/ life experiences. With the freedom that wealth offers you should be free to do/ think without worrying about offending society.


    To sum it up use money to be happy and to indulge in pleasures (within the limits that you morality imposes on you) without feeling guilty.

    Remember that money is the means to an end ( happiness) and avoid falling in the trap of accumulating wealth just for the sake of it.

    If you are happy you would no doubt share your good fortune with others.
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  • My th

    Dear first of I would like to thanks you to make me think on this topic after a gap of long time...
    I used to think like this, but now just busy in increasing the same...

    Well according to me, money is best utilised to make fulfills basic need of ourself and others

    1. Food security to whole world, home , medical, good life standard,
    (scientific development and to evolve)req etc
    2. To spread Spiritual awareness in all human being..
    3. the if we can full fill both above then I don't thing we need money to
    Save n spend.

    May be my reply seems to be impractical to few, but u who,s basic needs r fulfilled then they can understand what I wanna convey....





    COLOR=#5d5d5e]This is where Money should be use the most in order -

    1) Education
    2) Helping people who are in real need
    3) Eat Well
    4) Travel the world with family (Including Parents)
    5) Hire the best expert (for swimming/yoga/gym etc etc )
    6) Library
    7) Setting up a social enterprise

    What else ?

    Please dig deep within yourself and reply. This could be the key of enlightment for many.

    PS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karnaPS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karnaPS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karnaPS - RE/Investments/Loan/Leverage/upcoming projects etc etc ko include mat karna
    CommentQuote
  • This depends on personal priorities/ambitions. But for aam junta i guess list should go as follows:

    1. Eat well - Dress well - Live a happy life (40%): If you'r not healthy there's no fun in being wealthy. You'r basic standard of living should be at par with society/colleagues you work/live with. Join a gym, learn swimming, play tennis/guitar etc do what ever you want to which you ever dream of doing during you'r childhood days. :) . Give some gifts to you'r loved ones. Your son/daughter/mom/dad/wife.. They will feel blessed.

    2. Spend on education(10-30%): I guess most of us would agree that they like/prefer educated people more than just wealthy and uneducated. If you'r son/daughter is educated he/she will bring prosperity in you'r life. You'll feel proud if someone say good words about them and obviously the credit goes to parents/family.

    3. Invest (20-30%): Part of earnings which are left should be invested in a diverse places. All the money in RE seems risky. Keep something in Savings/FD's which should be enough to deal (god forbid) if some happening occurs in your life. Buying home/flat/stock/business all are investments, some will succeed, some may not. Depends on your personal potential/luck etc.

    4. Charity - Goodness (10%): Some part of your earnings should be spent in charity as well. This is also an investment i feel :)

    Thanks,
    Chandan
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  • Some quick tips to keep money in perspective:

    1. Money cannot buy happiness, Happiness buys money: If you are a happy family now, money flow is only gonna go up without you having to bother. It doesn't work any other way....

    2. Money cannot buy happiness....but it buys out some un-happiness: Especially true if your basics of existence are not being met (think of folks at the bottom of the pyramid etc). Most middle class folks wont fall into this category...

    3. Define your hunger : How much would it cost you to 'step-up' i.e. buy your desired car, have a super house (even rented), eat and drink gourmet grade stuff, day to day lifestyle etc etc. For most folks, this would be covered at or under 1 Crore price point. If that is defined, everything over it can be easily invested, donated, wasted, spent etc.....

    Cheers,
    SD;)
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  • AFTER you have fulfilled your needs, your children's needs, your grandchildren's needs and by this I mean housing and travel and eating well and having every gadget and car to satisfy themselves - if after all this you still have money left over and want to do some good - the best things you can do in decreasing order of importance would be

    1. Create a good business (by providing capital for it - remote controlled from wherever you live) which provides employment in less developed areas - like set up a food processing business in rural India (like Gujrat, Tamil Nadu, Andhra etc where your life wont be in danger). If not possible, start a business in urban India in a new niche. If you make a loss, improve it - provides valuable lessons and opens up possibilities. If you make a profit, plough it back into the business. Some examples would be - van based carpentry service with training of Indian carpenters in latest techniques by English carpenters. Same for plumbers. Or a plumbing company based on latest copper pipes with seamless expansion joints - eliminating the lousy iron pipe plumbing in India which causes seepage everywhere. Or girder based construction system company with precast technology - put up a building in 6 months with the latest building techniques, blaze a trail and set the standards for other builders.

    2. Start schools in rural India with good teaching staff. Attach a vocational school to it with on the job training - in latest power tools.

    3. Give money to sensible NGOs - which provide education, training, rain water harvesting, e-chaupal type initiatives etc (not leftist or environmental nut job NGOs - who provide only ADANGI for others trying to do something sensible)

    4. medical vans with free/minimal paid service in rural/juggi areas.

    The point being - force a mindshift change in Indians by trail blazing and showcasing the latest. Like the mibile phone and car and computer revolution - same thing in food, construction and education (all laggards in India)
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  • Just a thought- Its always better to educate the next generation than to open an orphanage for old...
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  • 1. first of all , make a decent lifestyle for u and family.
    2. give best education to ur children
    3 invest & also important is that do plan for yr retirement.
    4. don't forget ur parents....spending quality time with them is best but if u can't do that them do make them realize that they r imp for u like giving gifts etc , remembering their bdays etc
    5 lastly but not the least - contributing towards society'....I know its tough but imp....should donate towards needy , poor...start some sort of ecs or online donation but just do it !
    CommentQuote