Financial Advice from Dr. A. P. J. Abdul Kalam

1) Have a Vision - A person needs to have a vision if they want to do something. Only when a person has a clear vision for what he wants to accomplish in life will he be motivated to strive toward it. Similar to this, you should have an idea of how you want your personal finances to look and what your financial objectives are. You will be inspired to do the same and will know what actions to take to get there thanks to this.

 2) Complete dedication to your goal - Just having goals is insufficient. Regardless of his notoriety, performance in a game, or awards, Sachin Tendulkar, India's greatest cricketing icon and master batsman, would practice for hours on end and focus on his shortcomings. Similar to this, you must be completely committed to working toward your financial goals after you've set them. You must make a plan for accomplishing them and begin persistent effort in that direction. You must take the time to educate yourself on the most recent financial market news, organize your funds, and take action to reach both short-term and long-term objectives. After you have completed the preliminary work, you must analyze your financial plan, compare it to the present situation, and make any adjustments to assist you accomplish your goals.

3) Face issues head-on and find solutions - Dr. Kalam advised against avoiding issues altogether; instead, find solutions. In a similar vein, you can experience financial setbacks. It's possible, for instance, for an investment to lose money or for you to incur a hefty bill that wasn't anticipated. It's crucial to use reason when thinking instead of losing hope. To reduce losses, the investment might need to be sold off. Alternatively, you could establish a business or look for a job in a different industry. Your loss from the additional unexpected expense will be lessened as a result of this.

4) Being ready - The only thing that is constant in life is change. Our lives are always undergoing foreseen and unexpected changes, which have an impact on our money. He advised us to be ready rather than to complain. In order to make the best decision, we need be alert. Emergencies may cause a financial imbalance, and unanticipated market conditions may have a detrimental impact on our investments. We ought to be ready for such circumstances. We ought to have an emergency fund. We ought to have a backup plan in case things are very bad financially, so that we can bounce back.

 5) Hard work and Perseverance will lead you to success - American entertainer Eddie Cantor once remarked, "It takes 20 years to become an overnight success." So very true. You won't become wealthy over night or be able to meet all of your financial objectives quickly. To succeed financially, you must put forth constant effort toward your objectives and take actions to increase your money. You might experience setbacks along the way to financial freedom, which might let you down. But in order to succeed, one must keep trying, put in a lot of effort, and pick up new skills along the road. You should also make your money work hard in parallel. To get the most returns from your money, you should make wise investments. We should work hard to achieve financial success because President Kalam once said that God helps people who put in the effort.