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Daddy... I don't want that
new 'latest mobile'
This is an event which I am trying
to shape up into a story. Just like the stories with the deeper messages that are
narrated in the Panchatantra. In my view, only those who want to make millions
of bucks should read it and it must be forwarded too to those who have an urge
or the craze to immediately become an owner of the new mobile in the market.
A close friend of mine shared
it with me sometime after reading “I Want to Be a Millionaire” one my Gujarati
blogs.
It is July of 2019... a
gentleman from a neighboring country in the north-east of India... who
manufactures four brands of mobile phones and distributes them under different
names in India, released a mobile phone with a 54 megapixel camera in the
market. They also advertised it loudly in a famous Indian comedy show that
broadcasts every Saturday - Sunday on the TV being a sponsor.
Influenced by that, a son of
a middle-class family got a kick and started ... 'Dad... let’s buy this phone...
look at the camera it offers! 54 MP! How
clear the picture quality it will provide!
Even the thinnest of the hair will be visible if it clicks a snap of a
man with beards. My mobile, that we
bought 3 years ago has only a 13 MP camera.’
Dad asked... 'How much does
it cost?' Son searched on the internet and said 'It costs Rs. 48,000, if we
exchange the current mobile online, we shall get Rs. 2,000 as the buyback for
that so it will finally arrive at Rs.46,000'... which equaled one month’s
salary of his Dad!
The Father, having seen many
ups and downs in the life... got sweaty! An already acquire mobile worth 15,500
in hands ... only been three years old... and direct Rs.46, 000 slander!? One
year's monthly maintenance of a flat in Mumbai multiplied by twelve months
would be Rs. 36,000... Thus the cost of the phone was around 15 months of the maintenance?
Straight away giving up one month's salary?! Just for the selfies, which would
anyways get deleted after some time?
He said 'Son... this will be
an expensive buy for us... After another two years, a new variant of the mobile
will get released in the market again, you will like to acquire it and even if
you have to replace this new mobile, it will not give you more than Rs. 5-7,000
in return.
Due to the difference in
understanding between the young son and the father, there were some arguments,
but finally the son bowed down... 'You Papas are just like that... you guys belong
to the league of Fixed Deposit lovers... I shall earn money and buy it in my
own way...!'
FRIENDS... Till now the
talk... was a dramatic presentation... to set the scene... but now the talk is
about the fact.
That father was working in a
bank and for him It was very easy to get a loan or use a credit card and swipe
it and convert into Easy Monthly Installments (an EMI). It was easier... but he
knew few things that many of us don't...
"One should buy a new
mobile only after accumulating huge savings and using the mobile for at least
five to seven years."
“Buy a new car...must drive
it for at least 15 years. Only then will its value approach recovery of the
cost.”
"Buy a used car...and if you do so, buy a car that is two years old so that it has
almost halved its cost price and doesn't need to be replaced for another 13-14
years."
And “If there is no great
need... one should not buy a car at all...!” For who has the God created Car pooling,
Ola, Uber, Taxis, Rickshaws, Metro rails, Buses? Just for us!!!
Knowing such facts of
finance, the father put aside 46,000 rupees for his son and made a risky
investment at that time after studying thoroughly on the Internet.
The massive promotion of
solar energy has already started and he bought 1000 shares of a green energy
company in the name of the son (screenshot of the purchase is given below) ...
his only intention was that his son must know after ten years the lesson of 'depreciation
and appreciation'! The difference between where the rupee depreciates...and
where it shines the most!
Lock-down started in March
2020 due to COVID... the stock market went up and down... but by February 2023,
a miracle happened... the same share which was bought at 46 rupees per unit...
went up to 3800 rupees per unit !
His investment of Rs. 46,000
rose to more than Rs.38,00,000!
He called the son, and said
"Look son... the decision made on that day to not buy that particular
mobile phone, can now get us all the latest mobiles today... How much do you
want to buy the new one!? " The son's eyes were broadened ... the mobile
phone was five years old now, so he bought a new one ... the latest mobile
phone! But at the same time, he got the
precious knowledge of the life that the money must be used to invest it does
not get wiped off. Well, it should not be forgotten that anything can happen in
the stock market, it is true that you should take risks only if you are alert
like a hawk.
Hope this event has given a
financial learning. I felt it to be worthy sharing here... If you too feel like
do share this post further to all the young ones who are yet to build their own
path of prosperity by collecting brick by brick!
See you all soon with another
interesting blog ... Bye for now!
Ujjaval Vaishnav
Mumbai / Rajkot
#stories #financialstories
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