Chanakya reiterated the way to manage personal finances

We aren’t able to create balance in our life as a result of which we have opportunities in career or wealth but don’t have good relationships and vice versa.

We often find successful people or so called rich people alone and committing suicide but this is due to lack of management or balance in the life. So we can understand that we need management related to relationships, wealth and other aspects of life.

Now we’ll talk about wealth. We know that everyone earns money or at least tries to earn money but is unable to save it or don’t invest it in the right way. But how can one become financially stable and what should one do?

Radhakrishnan Pillai in his book ‘Chanakya in daily life’, quoted the advice of Chanakya which are as follow –

 

Wealth identification

 

Wealth identification means to understand where the money will come from. Chanakya retirated that one should work on their personal development then only they would be able to get better opportunities. They need to learn from experts in their field. Then they don’t need to change money, money will come after them.

 

Wealth creation

 

One needs not only to identify but they also need to work hard to excel in the field. When they work hard and give the best, ultimately they will create wealth.

Swami Chinmayananda said “when opportunity knocks at the door, either we have gone outside or are sleeping inside”. It clearly depicts the need to grab the opportunity and consciously see the opportunity to grow.

 

Wealth Management

 

According to Chanakya one need not to just earn money only but also need to save the money in the right way and invest it in the right way then one can make money from the money. Spending the money in the right way and its saving is wealth management.

 

Wealth distribution

 

Chanakya suggested that one should not become a ‘miser’ and spend their money in the right manner. Parents, society, Government and many other people have played a vital role in our success. So, when we are successful we need to return them and the process of returning it back to them is also called Personal society responsibility

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