My fit teddy bank. Now I just drop coins in it and use them when I am a short for a few bucks.
But Growing up this teddy bank taught me quiet a lesson in saving and also investing.
No amount of money saved is too small – By saving 1 rupee for months, I could buy Cadbury bars instead of Eclairs.
Likewise today if you save 1000 rupees for 10 years and if it grows at 7 percent and 10 percent, the corpus is 1.72 lakhs and 2 lakhs respectively. Now all working individuals can save that much and even more. Just increasing that amount to 4000 rupees the value is 6.88 growing at 7 percent and 8.05 lakhs at 10 percent. The Power of Saving I learnt at a young age and the power of compounding I’m still learning and earning. Patience is the key.