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(Precious) Words of Wisdom : "Never spend your money before you have earned it." ~ Thomas Jefferson

Personal Finance Lessons...inspired by Katrina Kaif (a recap)

Sometime back I had done an article on how Katrina Kaif's life story can be a source of many lessons in personal finance. 

The motivation of doing so was quite simple.

As you all are aware, Katrina was a total novice when she entered the Hindi film industry. She had no knowledge of films. Worse...she couldn't even speak Hindi. Yet within a short span of 5-7 years she became one of the most successful actresses in the Hindi film industry.

Likewise, many among you too would have no knowledge of the personal finance industry. Worse...you wouldn't even understand the financial language. But if you are willing to work hard like Katrina, there is no reason why you too can't become successful and crorepati.

Given the importance and relevance of these lessons in personal finance, I guess it is time to do a quick recap of the same. (Detailed article can be read at '7 personal finance lessons to learn from Katrina Kaif').

Lesson 1: Background and past do not matter; what matters is what you do with your present.

Lesson 2: Don't be discouraged by failures and losses, instead learn from them.

Lesson 3: Find yourself a mentor and be willing to learn.

Lesson 4: To start with, invest only in top-rated and successful companies/mutual funds.

Lesson 5: Stick to a few simple investment products in the early years.

Lesson 6: Move to riskier and specialized products only after you become reasonably successful and knowledgeable.

Lesson 7: Only 'attitude' matters; rest is just a matter of details.

And as I had concluded, professions may differ, but the underlying rules to success remain the same. Pick up any person you admire and make him/her your inspiration. Success is waiting for you. Are you ready to grab it?

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

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