I
was seven years old then. My mother took me along with her to a big
building. She told me it was a bank. She told me that she would save
money in a box. After the accumulated money went over a hundred she
would deposit the same in the bank.
“Why
should we give our money to the bank?” I had asked innocently.
“That
is because the bank will give interest upon our money.” She
explained.
“What
is interest?” I again asked her.
“Interest
is additional money.” She replied.
The
thought of getting additional money inspired me. But I had so many
questions to ask to my mother. “What does the bank do with our
money?” I asked my mother.
“The
bank lends it to those who need it. It charges them interest on the
loans advanced. It makes profits from the interests.”
“Mumma,
can I also deposit money in the bank?” I asked her.
“Yes,
my child. You can deposit the money. Save the money which I will give
to you and we will deposit it in the bank.”
This
small incident of visiting the bank along with my mother had a very
deep impact upon me. It inculcated the habit of saving in me.
My
mother would give me rupee or two and I would save it in my piggy
bank. When the piggy bank was full, I would open it and count the
coins. To my delight I would have saved a substantial amount of
money, often more than a hundred. I would dance in glee that I had
saved such a large amount. I would go to the bank and deposit it. I
would get my passbook entered. I would be happy at the sight of
interest accumulated on my savings.
That
small incident changed my life for the good. Such was its impact. I
grew up. I got a job. The habit of saving had become a part of my
life by now. After my salary I would set aside a certain amount of
money and only then withdraw money from my account. My deposits would
fetch me interest.
That
incident had inculcated regularity in my savings. My small deposits
made a large amount in total. So while my friends and colleagues were
busy hunting for loans, I could buy my own car and my own house out
of my savings. All this is the impact of that incident in the bank.
Indeed that incident changed my life. It had a deep impact upon me. I was a child I did not know much about money matters. But I had learnt one important lesson. Wealth was not to be squandered but to be used wisely. Such was the impact of that incident.
This
blog post is inspired by the blogging marathon hosted on IndiBlogger
for the launch of the #Fantastico
Zica from Tata Motors. You can apply for a test
drive of the hatchback Zica today.
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