Joseph and Ranvir met for the first time when they were ten years old. Their fathers worked in the same public sector company and happened to be posted together in the same place. Both families had neighbouring accommodation, and both the boys, being of the same age, developed an instant friendship that is strong even today.
Joseph and Ranvir walked down to the school together, played together, did their assignments together and even spent their vacations together. As luck would have it, both the families were transferred to the same cities subsequently, ensuring the boys stuck together throughout their schooling, and even later, as they joined the same college in Goa.
As they progressed through their college years, both took up paid internships to supplement their pocket money. Finally, in the last year of their graduation, it was time to face the harsh realities of life – Joseph and Ranvir both wanted to pursue higher studies, but their fathers couldn’t afford it. Ranvir, thus, decided to join a bank that had selected him during a campus interview. Joseph, however, decided to go for post graduation. He had started investing a small amount of INR 500 from his pocket money ever since he was 15 through SIPs, as advised by his wealthy maternal uncle. Impressed by his young son’s financial discipline, Joseph’s father matched the amount of his investment each month, encouraging Joseph to save even more.
Thus, as Joseph grew in age, so did his portfolio. Even in college, when Ranvir and their other friends spent their stipend on movies and coffee, Joseph invested half of it, each month, growing his portfolio significantly.
Like Joseph, by inculcating financial discipline since childhood, you can also ensure financial independence to fulfil your dreams from a young age.
Dr. Celso Fernandes, author of two much-loved books “Who Says Money Doesn’t Grow on Trees” and “Don’t Chase Money, Let Money Chase You”, is on a continuous mission to encourage youngsters to start saving and investing from an early age so that they could get a better handle on their life. Dr. Celso mentors “Young Achievers Club” and “Super Achievers Club” focused at dispensing financial literacy among youngsters.