RAKSHA BANDHAN

The Bonding between a Brother and a Sister is simply unique and is beyond description in words.  India is probably the only country that celebrates the relationship between Brother and Sister.  This festival is called “Raksha Bandhan”.   Raksha means protection and Bandhan signifies the Verb to tie. Together, Raksha Bandhan means to tie a knot for Protection.  Bandhan also means Bond. The other meaning of the Word Raksha Bandhan is a “Bond to Protect”.  It is celebrated on the Full Moon Day of the Hindu month of Shravan.

 

Raksha Bandhan or Rakhi is known by different names in different regions of India.  The Shravan Poornima is also celebrated in different ways by people in different regions of India.  Farmers in most part of North and Central India, celebrate this day as Kaji Poornima.  On this day, they start sowing Wheat and pray to god for good crops.  In some of the Coastal Regions of India, this day is celebrated as Narayali Poornima” by offering prayers to Lord Indra and Lord Varuna.  The Sikhs celebrate the Festival as Rakhardi or Rakhari. But carry the save aura of Brother-Sister love and relationship.  Raksha Bandhan has lot of historical significance and has many reference and incidences in epics like Mahabharat. 

 

Yama and Yamuna:  According to Hindu Mythology, Lord Yama did not visit his sister Yamuna for a long time, who ultimately became very Sad.  On the advice of Ganga, Lord Yama went to meet his Sister Yamuna.  Yamuna was very happy and part of her hospitality tied a Sacred Thread on Yama’s wrist.  It was a Shravan Poornima Day.  Yama was so impressed and delighted and asked Yamuna to ask any Gift from him.  Yamuna expressed her desire to see her brother again and again.  Hearing this, Yama made his sister Yamuna immortal so that he could see her again and again.  From that day it is believed that whoever tied a Rakhi to her Brother would become immortal.

 

Krishna and Draupati: Another legend is related to Mahabharata.  In Mahabharata, when Lord Krishna was hurt during the war with King Shishupala, he was left with a bleeding finger.  At that moment, Draupati had torn a piece of cloth and tied around the Wrist of Lord Krishna to stop the bleeding.  Lord Krishna was touched by her gesture and promised to reply her love and devotion in future, whenever she needs that.  True to his words, Lord Krishna saved and protected Draupati when Dushashan indulged in the immoral and sinful act of pulling the Saree of Draupati.

 

King Bali and Goddess Lakshmi:  As per another account of Bhagavat Purana and Vishnu Purana, when Lord Vishnu won the threw rods from the Demon King Bali, he was requested by the Demon King to stay beside him in the Palace.  The Lord accepted the request and started living with the Demon King.  However, Goddess Lakshmi, wife of Lord Vishnu wanted to return to their native place of Vaikunta.  So, she tied the Rakhi around the wrist of Demon King Bali and made him her brother.  When the Demon King Bali requested Goddess Lakshmi to seek any gift from him, Goddess Lakshmi asked Bali to free her husband from the vow and let him return to Vaikunta.  Bali agreed to the request and Lord Vishnu returned to his place with Goddess Lakshmi.

 

The concept of Raksha Bandhan is mainly that of Protection.  In India, we often find people going to the priest of certain temples and getting a sacred thread tied to their Hands.  We also witness Priest, tying a Sacred Thread to the wrist of the performer of certain rituals before the commencement of such procedures.  Even the Yagnopaveetham (Janeev), a Sacred Thread worn by Brahmins, across their Chest acts as a Raksha, to the person wearing it if he maintains its sanctity.  In Hindu marriages, a Mangal Sutra, a Sacred Thread is tied around the neck of the Bride.  After the Mangal Sutra rituals are over, the Bride and Bride Groom tie a Sacred Thread on the Wrist of each other, called the Kankana Dharanam/Bandhanam.

 

The concept of tying Sacred Thread is common in Hindu Religion and is not limited only to Brothers and Sisters.  It only intensifies the Bond between the two people.  Raksha Bandhan is the only Festival that celebrates the Love, Devotion and Bonding of the Brothers and Sisters.  A girl might adopt any boy as her Brother by tying the Rakhi on the Raksha Bandhan day.

 

The ritual not only strengthens the bond of love but also transcends the boundaries of the Family.  When a Rakhi is tied, it underscores the need for a harmonious social life.  This helps to broaden the boundaries and live like a true “VASUDEVA KUDUMBAKAM”

(The above article was written for publication in Aug. 2019 issue of PRINCE’S VOICE – A Community eMagazine)

 

 

IMPORTANCE OF FINANCIAL KNOWLEDGE - PART 3

There are 3 financial phases in one’s life.  An analogy can be made with the Education system.  We have the Basic (Secondary School) Education, Graduation and Post-Graduation as the 3 levels of Education.  Similarly, we too have stages in handling Finance. 

 

They are Wealth Creation, Wealth Management and Wealth Preservation.  Just like how one cannot spend more than required number of Years in any of the 3 education levels, one must not spend more than required in any levels of Finance Management.  

 

Wealth Creation is the first level or Phase of one’s life.  Here the focus and priority are to create Wealth.  This should start in a young age.  In this phase, the ability to take risk is higher.  Here the Investment Profile should be aggressive.  One should seek high growth Investment Opportunities to create Wealth.  Since the risk that will be taken is high for a high growth Investment Option, it is obvious that the Risk-to-Reward ratio will be higher.  Most of the people spend a greater number of years in this Phase due to lack of knowledge and assessment of their priorities.  

 

Taking the example of the Education levels, can one spend more years in the School learning the Basics (Secondary School)?  The Basic Education provides the foundation to understand and excel in bachelor’s degree Courses.  Similarly, Wealth Creation forms the Basis and Foundation to excel in the next phase of Finance Management, which is Wealth Management.  

 

Wealth Management is the second phase, where the Focus is only on Managing the Wealth that is Created.  That does not mean that the Wealth Creation process will stop.  Only the Focus and priority is shifted from Creation to Management.  In this Phase, the ability to take risk should be Moderate.  The Investment profile should also be moderate.  One should cut down the risk and focus more on managing the Wealth by diversifying the Investments.  In this phase the Risk-to-Reward will be slightly lower.  Since the appetite to take risk is cut down, there will be more discipline on the Investments.  This minimizes the chance of a failed Investment. 

 

Many people do not get excited in this phase of Finance Management.  They feel the creation of Wealth diminishes in this Phase.  It is not true.  Most of the Ultra Net worth have made and continue to make more money in this phase than any other phase.  It is always difficult to make the first Million/Crore.  The rest of the Millions/Crores are made by the first one.  

 

The Final Stage is the Wealth Preservation.  Here the Focus in more on preserving the Wealth.  The ability to take risk is close to Nil.  The returns will drop as well.  But the Wealth that was created and Managed so far, will be preserved and kept intact.  The returns will be minimal and, in some cases, very negligible.  This is subject to the type of Investment.  It has happened in many cases that people who have Investments in Real Estate have made more money in this phase just by Preserving it.   

 

Age of a person is not necessarily the only factor that determines the phase in which one should be.  The Priorities and Goals are equally influential factors.   

 

For those who are in middle-income category and are employed, the above levels might sound irrelevant.  Ironically, even though must fall in these 3 stages eventually.  Each one might spend varied number of years in each stage but they cannot escape the process.  

 

We will look into how the middle-income and Salaried people can adopt these 3 stages in the coming issues.  

 

(To be continued...)

 

(The above article was written for publication in Jul. 2019 issue of PRINCE'S VOICE - A Community eMagazine.)

IMPORTANCE OF FINANCIAL KNOWLEDGE - PART 2

Imparting Financial knowledge to their children at a young age is very important for any Parent.  Equally important is to acquire Financial Knowledge themselves.  Financial Knowledge is not about where to Invest or how to multiply?  These are Investment Knowledge.  An understanding of their Financial situation and priorities are the Basic Financial Knowledge required, to start with.

 

Many people might say that money is not important in life.  It is totally untrue.  Money is very important in life.  It is as important as the blood running in our body.  The example of Blood is apt as you cannot have less or afford to have more.  Both are dangerous.  This concept is very nicely expressed by Suresh Padmanabhan in his book I LOVE MONEY, which I read many years ago.  

 

The financial situation and priority are different for every individual and is determined by Age, Personal Commitments, Years of Service left and existing Assets.  The problem often is on the understanding of the reality and setting the priorities.  Many people often feel that what they have is not enough for the future living.  This is common in people who are above 50 years of age, more so with the people who have retired.  Ironically, many such people leave behind lot of money when they leave this world.  Was it worth going through the tension and pressure, for the money that they had no use for?  This is an interesting question and an important one.  

 

When you discuss Financial security and Safety with people, they always express the ‘Fear of Unknown’.  Some of them also express the ‘Fear of insufficiency”.  All these comes out of “What if?”.  Too much emphasis on this question is dangerous.  People always have the tendency to suspect that what they have might not be enough to cover their Living and Medical needs.  The fear is more on the Medical needs.  To add to this, people normally say that they want to be self-sufficient and do not want to burden their children.  This is more of an Ego at play.  Our Children are our greatest Asset and the biggest and best form of Insurance.  Just like an Insurance Policy that pays you on Maturity, upon proper payment of premiums; the regular Premium paid to your children in the form of Transfer of Values will reward you with high returns at the time of Maturity.  If the value systems have been passed on to our Children properly, we need not be insecure about our Children taking care of us.  Just like how we feel it is our duty to take care of our Parents, it is equally logical for us to believe that our Children will take care of us during adversity.  We can set aside some funds for our future medical contingencies but cannot be worried whether it is enough or not, beyond a certain point.  

 

In the name of Future Safety, one takes lots of efforts, indulges in sacrifices, faces tension, undergoes Pressure and takes risk. If that extra money, earnt, is not going to be used for him in his lifetime, are all his actions justified?  If one requires only a certain amount to cover his Living and Medical needs, any amount he might have beyond that is only a number.  The number may be bigger or smaller.  It will only help his legal heirs.  So how is it logical to go through everything to increase the number which is irrelevant?

 

I am in no way suggesting stopping earning, once you have enough for your living. The earning process can go on till the last day.  But, once self-sufficiency is attained, risks, sacrifices, tensions and pressures should be avoided in making those extra bugs.  The purpose of money is to lead a life.  The Purpose of life is not to earn Money.  One needs to have time and space to lead a normal life.  If most of the life goes in education, employment and earning money; when will one find to do things what they want to do and lead a normal life.

 

Stretching the boundaries of duty beyond normal borders, exaggerated living standards, high expectations, Greed, Fear of Unknown are all unwanted guests in our mind, who push us to go through the ordeal of chasing more money.  To overcome these factors the first thing one needs to do is understand the situation clearly keeping in mind the reality.  Many times, we find people self-certifying their Financial Plan and take pride in ‘Know it all’ attitude.  This is the first thing that one needs to avoid.  Planning the Finance should be on an inclusive and transparent basis.  Keeping your plan known to your Children will help them understand your thoughts and their duties.

 

When a reality check is done on your finances, always calculate the House that you own and live and the Gold in Hand.  These are your real contingencies.   While you are in Service you need to exclude the own house where you live in and the Jewels you have, when you calculate your Net Worth.  But when you calculate how much you have for future use; you need to include them while calculating the Net Worth.

(To be continued...)

 (The above article was written for publication in Jun. 2019 issue of PRINCE'S VOICE - A Community eMagazine.)

IMPORTANCE OF FINANCIAL KNOWLEDGE - PART 1

Financial Knowledge is paramount to the very living of a human being.  No matter, what profession or career one enters, end of the day, they all receive compensation.  Neglecting the importance of Finance is a quick recipe for disaster.  But, unfortunately, Financial Knowledge is the most misunderstood or ignored aspect of life, by many.  Many of them self-certify their Financial Knowledge thereby locking their minds from learning further on this. 

 

The financial requirement and approach for everyone may vary but the fundamentals remain the same.  Acquiring Financial knowledge at a young age helps an individual gain confidence in making financial decisions and in handling personal finance.  So, the first lesson is to get exposed to finance at a young age.

 

More often, the Parents do not allow their Children to handle finance at a young age.  The fear of misuse is one of the primary reasons among many others.  No Parent would like to see their hard-earned money being mishandled by their children or subjected to losses by Children due to cheating incidences or loss of Cash due to carelessness.  But for how long can this continue.  In most cases, the Parents keep track of their Children’s finances, until their Children get married.  This is the first fundamental mistake committed by many.

 

No one has learnt how to ride a bicycle without falling.  Similarly, no one has led a life without being cheated Financially.  No one has led a life without having lost Cash due to theft or carelessness.  This is the rule of the land.  Nothing in this world comes free.  One must spend to learn anything in this world.  If one gets cheated, he surely learns a lesson.  The cost of the lesson is the amount that is lost due to cheating.

 

The attitude and tolerance of Parents play a major role in establishing the Financial discipline in their Children.  In most middle-class families, the children get access to money when they start going to College.  Especially, the children staying in Hostel get access to a large chunk.  In a high majority of cases, the parents always keep a tag on such wards and ask their children on how and where they spend the Money.  Keeping a check on their spending is different from creating an environment where they learn the importance of money and take up the responsibility.

 

If you trust your children, do not suspect.  If you suspect, do not Trust.  If you do not trust your children who else will Trust.  It is always better to let them handle their finance at a young age by allowing them to take smaller decisions when you are still in service and can afford smaller losses.  When you are around, you can guide them properly and that too before they start earning themselves.  It will be dangerous if you protect your Children and start handling their finances till, they start earning on their own or till they get married.  When they are free to take financial decisions, they would not have gained any financial knowledge as they were always under the umbrella of their Parent.

 

One can come across dialogues in many families where the Father tells his son that it is his hard-earned money and he has no problem if the Child squanders money earned on their own.  How logical is this?   Money is still money.  It does not matter if it is earned by the Parent or their Children.  This attitude from such parents need to change.

 

When the child comes into the Employment Market, he should have understood the value of money and the importance of it.  The Children should know the difference between Spending and Using money.  This is the responsibility of the Parent.  The parents, by involving their Children in decision making can make their Children understand the difference between Spending Money and Using Money.  One cannot protect their child for long.  Letting one’s children handle their own Finances without any prior experience or knowledge will only do harm to the earnings of the Child.

 

The parents need to be more tolerant.  They should accept the financial mistakes of their Child and stand by the Child in correcting the mistakes.  The parent’s guidance is very important and such guidance will be effective and understood properly by the Children when they are young.  One should not expect their children to listen to them on financial matters, when their children have started earning on their own. 

 

Exposure to finance matters and involvement of Children in decision making at a younger age will help the child understand the value and importance of Finance and learn the difference between using the money and spending the money at a early stage.  This will ensure the Child handles his finance wisely when he starts to make his own living.

 

Involve your children while you take Financial Decisions and expose them to the real world, early, for their benefit.

(To be Continued...)

(The above article was written for publication in May 2019 issue of PRINCE'S VOICE - my Community eMagazine.)

 

MOTIVATION AND INSPIRATION

The words Motivation and Inspiration have been freely used by many people, more often, without knowing the difference between the two.  Just like the confusion people have between Marketing and Sales, there remains a confusion between Motivation and Inspiration for many.  For many ,Marketing and Sales are one and the same and similarly, for many, Motivation and Inspiration are one and the same.

At some stage or other, everyone needs a motivation and/or inspiration.  Both are different.  Motivation is ignited from an External Source and Inspiration comes from within.  Motivation is Temporary and Inspiration is a Permanent Process.  The triggering point for these two are different.  In many cases both are required to achieve success. 

Though there are many differences between these two, it is important to know atleast the basic differences to have a better understanding of these words. 

Inspiration means something that you have seen or heard from someone who has been in similar situation like you and have moved forward successfully.  This moves you internally.  Even a successful tale of someone who had faced similar situation will inspire you.  The impact and effect of Inspiration is long lasting.  Whenever you hear any success story or speech of successful person who came out from similar situation like yours, you feel connected immediately. Inspiration is a force which pulls us to do something, to achieve our goals.

Inspiration alone cannot make us do the things we are supposed to do.  Despite having inspiration, people still fall into laziness which prevents them from carrying out what they are supposed to do.  In this case, there is a need for something to push them and that is precisely the Motivation.  Motivation comes from hearing positive speeches or videos.  It is temporary and it will last only for sometime. 

There are very few, who have the ability to self-motivate and convert it into an inspiration. Both motivation and inspiration are a mental state of mind.   How you approach your life and the complexities that come with it determines one’s state of mind.

The first step towards bringing in stability, clarity and control of your mind is to realize that there are no problems in life.  We only have situations.  All situations are temporary, both good and bad.  The actions or inactions extend the duration of a situation. 

Very often, we find people who get offended easily.  Most of them resort to doing things that would either please others or would avoid criticism of others.  Their consciousness about others prevents them from doing the work in their own way   or the way in which it is supposed to be done.  The best way for such people is to keep remembering the phrase “SO WHAT”.

SO WHAT is a very powerful phrase that helps, one, maintain their originality and a stable mind.  Any criticism or appreciation from any one should be dealt with SO WHAT.  One neither gets carried away with the appreciation or gets upset over a criticism. 

Though there are many such tips one can find in the internet and books, the above two have been very useful to the author and to those to whom this was suggested.  When one is able to see everything as only situations and also have a stable mind, they rarely require motivation or inspiration to pick themselves up; as they are never down or out.

(The above article was written for publication in Feb. 2019 issue of PRINCE'S VOICE - my Community eMagazine.)