Teacher’s Day Special – 3 Classic Teacher’s Dialogues That Can Double Up As Financial Advice

By BankBazaar | September 5, 2018

Our nation owes a debt of gratitude to our teachers. Their impact on generations of Indians cannot be underestimated. This Teacher’s Day, we pay tribute to the ones who shaped our lives and also throw in some financial lessons that we could all benefit from.

It’s Teacher’s Day and it’s time to step up and salute teachers everywhere who have shaped the course of our lives in more ways than one. Teaching, at times, can be a thankless job, but how many of us would be where we are today if it wasn’t for the unwavering dedication of our educators when it comes to imparting some of the most important lessons life has to offer.

Think about it? How many of us haven’t had at least one teacher who made some sort of an impact on our lives at a nascent stage? Some teachers have even gone beyond the call of duty to ensure that we are given the requisite knowledge and tools to make something of ourselves in the world today. In fact, it’s quite possible that the vast majority of us wouldn’t be who we are or where we are today if it wasn’t for our teachers, regardless of how much of an influence they’ve had during our formative years.

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However, while many of us may not be in school or college anymore, the learning never stops. While most of us probably don’t worry anymore about proving whether a triangle is isosceles or not, there are certain other practical lessons our teachers have certainly instilled in us at an early age that can be applied to life and to the way we manage our money as well.

So let’s go on a trip down memory lane and recall all those words of infinite wisdom our teachers tried to drill into us for our own good:

  • “Don’t Forget To Do Your Homework”

How many times have we heard that line? It’s practically the mantra of every teacher at every school all over the world. While we’ve definitely heard it ad nauseam, we probably never really took it as seriously as we should have back then. In fact, many of us STILL don’t take it very seriously now that we’re all grown up.

However, those six words could make or break your finances in more ways than one. Whether you’re looking to invest in stocks, shares, Mutual Funds, Insurance, Fixed Deposits or anything else that has the potential to make your money grow, it is imperative that you first do your research before you take the plunge.

Investing without comparing different products or gauging the condition of the market is akin to financial suicide. Not only could you end up with an investment portfolio that does nothing for you, there’s also a chance you could get duped out of your hard-earned money by falling prey to Ponzi schemes and financial shysters.

So, the next time you think about investing your money, remember what your teacher once said. And this time, make sure you heed those words!

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  • “Wake Up! Pay Attention!”

Remember these four words that were bellowed out at us every time we felt the warm tentacles of slumber embrace us after lunch hour? While we’ve certainly had our fair share of boring classes that stretched on for what seemed like an eternity, it goes without saying that a fair few of us could have benefitted from paying more attention to what our teachers were saying while we were in school.

In any case, if you’ve been guilty of being financially ‘asleep’ all these years, it’s time to shake off those cobwebs and start paying more attention to what you should be doing with your money.

If you find yourself scrounging for cash at the end of the month, then learning how to budget yourself should be your top priority. Keep an eye out for unnecessary expenses and start nipping them in the bud. Make sure you only spend on what you need.

It may be hard at first, especially if you’ve been living a fairly extravagant lifestyle, but eventually, you’ll be pleasantly surprised to see that you have a healthy bank balance at the end of every month.

Just goes to show that paying a little attention to HOW you spend and WHAT you spend on can go a long way.

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  • “Stop Talking And Listen”

If every teacher had a rupee for every time they uttered these exact words, there’s a good chance they’d all be millionaires by now. But, being the rambunctious youngsters that we were, little did we know that this piece of advice would be worth its weight in gold as we grow older.

When it comes to our finances, many of us seem to think we know what we’re doing and are extremely hesitant to take any sort of advice from anyone, including our friends and family. However, it would be prudent to sometimes keep mum and listen to what other people have to say, especially if they’re more experienced with dealing with money.

Similarly, it is always better to enlist the services of a financial advisor instead of being overconfident with our money. Remember, you’re never too old to stop learning and the more you listen, the more you learn.

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Did a wave of nostalgia slowly wash over you while reading this? We certainly feel you. Many of us may not have appreciated the efforts of our teachers when we were growing up, but it is clear to see that they only wanted the best for us. So, a huge thank you is certainly in order!

If you can think of any more fantastic advice that your teachers gave you during your youth, feel free to write in. We would love to hear from you!

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Category: Investments Money Management UCN

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