There are different journeys people take for money (my first crore) and needs. Making my first crore is difficult as one has to go through degrees and jobs but after you make your first crore, then the journey is easy. It needs disciplined life, savings, smart investing and lots of compounding factor.
There are many people like Vivek Oberoi, the actor who earned 1 crore when he was just 16-17 years old. There are many techies of Gurgaon who by smart investing earned their ist crore. There is a person from Bihar who got 1 crore in lottery by luck.
So, there are many theories to 1 crore. One needs to understand it takes 9-10 years to earn first crore but after that it’s easy. Next 4 crores can be earned in 10 years by compounding or may be earlier. It takes a lot of hard work and sweat.
Women feels empowered and self – respect
When money comes and earned- It gives independence and self respect. When women break the stereotypes and mental barriers, they earn as equal to men. When they earn good, they can incur expenses on their own. They can start their own venture like stitching suits, opening a bakery, making a restaurant, opening up a shop etc. So, this all gives them empowerment. But for this or to multiply money- there needs to be compounding factor which will give them enough encouragement and courage for their own voice. My first crore has been a journey and a milestone which means it won’t be easy, but it will be worth it in the end to be precise.
Breaking mental barriers
The hard task is in the mind. Only and only mind needs to understand what all you have to go through. Be gritful, stand tall and take the jump for it is beneficial in the end in every sense of the word.
Happiness
My first crore gives happiness like never before. One can’t be so much happy, satisfied, secured and feels dignity in his own shoes. It is like being on cloud nine. It is not a cakewalk but one has to go extra mile and do all the hard work all the time. One must not leave no stone unturned for their first crore. Journey is bit tedious but worth doing towards the end. Burn the midnight oil or having some sleepless nights will do the talking on your behalf.
Needs- like home,car,medical emergency expenses are in abundance and income falls short. So, take the 50, 30, 20 rule and save like never before. For the factor that enough money is there in checking account for family expenses. One needs to take insurance and one needs to maintain emergency funds. 3 to 6 months of emergency funds has to be saved for unforeseen expenses. There can be a medical emergency so we need to save money to meet those accidental or uncertain expenses. There are urgent expenses too which needs to be catered to. Uncertainty is one word that comes to mind when one has to think about life and expenses. To meet those uncertain times- one needs to do extraordinary savings like never before. Savings should be such that one doesn’t need to tap old investment and borrowings. There should not be a burden on retirement corpus or funds for family. You don’t need to sell SIPs or take borrowings from family or friends. To save yourself from this financial dig, one must have enough emergency funds.
Self upliftment – my first crore is priority
Whenever a crore comes, it means person has stood up and stands the test of time. He can incur expenses on children education, college fees and other goals. There are many financial goals such as home, car, vacation, medical emergency or repairs. We get enough feeling of security and independence to live retired years as free and relaxed.
Sense of accomplishment
There is maslow needs of hierarchy and last need is sense of accomplishment. So, when we try to overcome odds and do what is expected of us or break mental barriers as to nothing can break us or shake us. Then, arrives the feeling of accomplishment. When a crore is earned, it means we have reached the milestone.
Multiply savings and money by keeping in bank as fixed deposit and trading. If money is not utilized then, it will be of no benefit. You must earn while you are sleeping. So, make the most by saving your money and investing them early on. You can invest in mutual funds as monthly sips or you can do trading and invest in good shares.
To wrap up
So there are different journeys which everyone has taken towards my first crore. My first crore doesn’t come easy, but journey is useful in many ways. There are many theories as to how can one earn this amount but one needs to do disciplined investing, savings, compounding and not doing unnecessary expenses at all. It is for the very good of the family matter that insurance and emergency fund has to be there in any of the case. Because there are many expenses that pop up when you are in journey of life. And when this journey is ongoing there are ups and downs too. So one needs to stand tall, do savings, do compounding, do hard work, do smart work and have a lots and lots of patience. My first crore is a milestone and doesn’t come easily to you. It is with sheer will and lots of savings that journey become easy and useful.
