How do you think the thirsty crow got to the water?
By adding those little pebbles patiently and consistently till the water came to the desired level.
Now imagine your piggy bank... Imagine yourself adding a coin or a note at a time and watching the level of savings come up. Imagine having enough to buy the new video game or to pay for a new instrument. Even better, you can buy something special for your parents and surprise them. Wouldn’t that be wonderful?
And doing all of this is fairly simple too! All you need to do is follow these steps carefully and stay disciplined.
Here is an example to guide you:
|Saving duration||26 weeks|
|Amount to be saved every week||₹ 115|
You can either start with the time available and calculate the amount to be saved every week or decide on the amount first and then calculate the time period for which you will have to save.
Why don’t you give it a shot? Think of some of the things you want to buy and prepare your savings plan.
|Saving duration||_____ weeks|
|Amount to be saved every week||₹ _________|
Caution: Make sure you put away the amount to be saved as soon as you get your pocket money or any other money. If you put it off for later, you will not be able to save anything. Pay yourself first.
Pause to ponder: Do you know what the Reserve Bank of India (RBI) is? Why don’t you do some research and find out more about it? While you are at it, you can check out KYC as well!