Parkinson’s Law:
Expenses rise to meet income.
आमदनी बढ़ने के साथ साथ खर्चे बढ़ने के कारण
Parkinson’s Law is one of the best known and the most important
laws of money and wealth accumulation. It was developed by English writer
C. Northcote Parkinson many years ago and it explains why most people
retire poor.
This law says that, . Many people are earning today several times
what they were earning at their first jobs. But somehow, they seem to need
every single penny to maintain their current lifestyles. No matter how much
they make, there never seems to be enough.
The first corollary of Parkinson’s Law says: Financial independence
comes from violating Parkinson’s Law.
It is only when you develop sufficient willpower to resist the powerful
urge to spend everything you make that you begin to accumulate money and
move ahead of the crowd.
The second corollary of Parkinson’s Law is: If you allow your
expenses to increase at a slower rate than your income, and you save
or invest the difference, you will become financially independent in
your working lifetime.
This is the key. I call it the “wedge.” If you can drive a wedge
between your increasing earnings and the increasing costs of your lifestyle,
and then save and invest the difference, you can continue to improve your
lifestyle as you make more money. By consciously violating Parkinson’s
Law, you will eventually become financially independent.
From this point forward, resolve to save and invest fifty percent of any
increase you receive in your income from any source. Learn to live on the
rest. Save fifty percent of any amount that you receive from any source. This
still leaves you the other fifty percent to do with as you desire
#Financiallesson
#hindifinancialeducation
डिलीवरी ट्रेड के लिए फ्री ब्रोकरेज लाइफ टाइम – Start Investing with Zerodha
Open Your Demat Account Today
https://zerodha.com/open-account?c=ZMPOUE
————
List of Books recommended: My All-time favourite Books
https://www.amazon.in/shop/hindifinancialeducation
• बेबीलोन का सबसे अमीर आदमी – https://amzn.to/2OKwEE5
• रिच डैड पुअर डैड – https://amzn.to/2NOGk3S
• थिंक एंड ग्रो रिच (सोचे और अमीर बने )- https://amzn.to/2xJcOCC
• रिच डैड गाइड टू इन्वेस्टिंग – https://amzn.to/2xH5Q0Y
• रिच डैड कैश फ्लो कवाड्रेंट – https://amzn.to/2R4dryB
• द सीक्रेट ऑफ़ मिलियनर माइंड – https://amzn.to/2Y9xHWH
—————
Follow on other Social Media –
• Blog/Website: http://sharemarkethindi.com/
• Telegram : http://t.me/hindifinancialeducation
• Facebook: https://fb.com/hindifinancialeducation
• Instagram : https://www.instagram.com/hindifinancial/
• Twitter: https://twitter.com/hfe_official
About: Hindi Financial Education (sharemarkethindi.com) is a YouTube Channel, where you will find personal finance improvements videos tips and topics on financial education in Hindi,
Email: ask.smhindi@gmail.com
New Video is posted Everyday at 8 PM 🙂
To get Updates of every new video Press Bell icon….
Thanks…
source
