Opportunity cost is the value of the next best alternative that you give up when you make a choice. It’s the cost of what you could have done instead, but didn’t. Here’s a simple example: Imagine you have $10 and you’re trying to decide whether to buy a chocolate bar or a toy. If you buy the chocolate bar, you’re giving up the opportunity to buy the toy. The toy is your opportunity cost. Another Read more
Needs are things that people and animals must have in order to survive and thrive. They are essential to our well-being and happiness. There are many different types of needs, including physical needs, emotional needs, and social needs. Wants are things that people and animals would like to have but are not essential for their survival or well-being. They are different from needs, which are things that we must have in order to live and Read more
Income defines how you get money. It is the money that you earn from working or from other sources, such as gift from our loved ones or government benefits. It is an important concept to understand because it allows you to measure your financial well-being and to make informed decisions about your spending and saving habits. Types of income There are many different types of income, but they can generally be classified into two main Read more
Imagine a world without money. How would you buy the things you need and want? You would have to trade goods and services with other people. This is called a barter system. For example, if you wanted a new toy, you might have to trade your old bike for it. Or, if you wanted to go to the movies, you might have to trade your help with the dishes for a ticket. There are two Read more
Neil, a successful businessman, was fascinated by an amazing launch video of a newly launched electric sports car. The machine could rev up from 0 to 100 km/hr in a matter of few seconds. His friend Nick sensed Neil’s desire and advised him “Neil, why don’t you immediately go ahead and place an order for this dream machine. After all, you will be buying an ‘asset’.” Nick’s statement reflects the commonly held perception of assets. Read more
There is extreme tension in the air. The two mighty armies of Kauravas and Pandavas are ready to attack each other in the battleground of Kurukshetra. Suddenly, the mightiest hero of the Pandavas – Arjun – expresses his inability to fight with his Kaurava brothers. He drops his bow and discusses his anguish with his mentor, Lord Shri Krishna. The Lord explains him the divine secret of well-being in the sermon that follows, popularly called Read more
“The money you have gives you freedom; the money you pursue enslaves you” ~Jean-Jacques Rousseau “The lack of money is the root of all evil” ~ Mark Twain Most people get confused when thinking about money. Confusions and diverse opinions surround things like: Saving and Spending: Some friends ask you to save for the future, as all of us need to prepare for a rainy day. Some others would prod you to live the moment. Read more
Dad, why do I need to learn integration in algebra? Will I ever use it? Most parents are asked such questions by their high school children. Kids today are given education in Languages, Math, Science, History, Geography, etc. As parents, we tell our children to study these subjects diligently, as some time in their lives, they will need them. True. But, can you guess a subject which they shall need for their entire lives, that Read more
“Happiness is not something readymade. It comes from your own actions” ~ Dalai Lama. Yes. Money can indeed buy us happiness. How. It can be achieved by following Satvik Money’s structured approach. Satvik Money is a movement to help all our tribe members get Happiness in life. Satvik Money is a movement to help all our tribe members get happiness in life. But happiness is different for different people. Sample this: Dhawal feels happy when Read more
Welcome to Satvik Money – a refreshing new journey with money. Satvik Money is an effort to change the perception and character of money for its possessor – from evil to good. It’s a tribe leading a happy and purposeful life. It’s about improving the mix of ‘Sattva Guna’ in money. Satvik Money is all about a) improving Financial Literacy to learn the right way to earn, save and spend money b) Financial Freedom, and Read more