Badruzzahan Ahmed affirms how money may have been the strangest item ever created by the modern man
We move oceans and mountains to earn money only to eventually not have it anyway! Money is earned only to be spent. But what makes the difference is in how it is spent rather than how much of it is spent. Money spent well is an investment in itself. However, what is interesting to note is that the return on money spent well may not always be in the same currency, but rather in other invaluable forms.
Spend today to spend more another day
Generally, the core value of money depreciates with time because of inflation, and so it is important to invest money. Investment can be made on bonds and savings certificates from your early adult days. The array of banks in Bangladesh offers various saving schemes, however unknown to many, the Post Office also allows citizens to purchase savings certificates from the Government of Bangladesh. Savings certificates have the highest rates of interest in the Post Offices, close to 10%, and the minimum value to be invested in Tk 1 Lakh.
Spend on a cause
Fortunate aren’t we to have enough financial means to ponder on how to spend? But there are those in the world who do not have enough to even meet the basic necessities. Thus it is our duty to help those in need and work towards a more equal and fair society. Each of us has certain core beliefs that are integral to our personality, and so spending money on a charitable cause that is aligned with these core values enhances our soul. Be it spending on education for the underprivileged or human rights or the empowerment of women, spending on a cause in an investment in humanity.
Spend on the soul
While we spend religiously on the necessities of the physical world to avail comforts of that world, it is equally important to spend on that which feeds the soul. Spending on experiences or a new skill, be it a language or craft, exercises our brains and in the long run brings fulfillment. Contrary to popular belief, age is irrelevant when it comes to learning because even an old dog can learn a few new tricks! So, go ahead, spend money guiltlessly on your French or learning wood crafting or even the sky-high air diving during your next vacation.
Spend on the greatest of all wealth
You will live once; hence the body that houses the soul needs equal care and attention. Hence, you must allocate some money to spend on regular medical tests that may uncover the dormant illnesses that sometimes reveal themselves too late. A good spending would be in an annual medical test that would include eye-tests and a blood test. A scan of the whole abdomen is also highly recommended, especially for women.
Spend on the retirement fund
We’re not getting any younger; time spent can never be reclaimed, so the time you spend to earn money now must provide for the time that is to come. Do not wait until it is too late to start saving for your retirement. Although our career trajectories vary by profession, an ideal time to start would be late 20s. Sign up for a retirement plan, no matter how small, and contribute every month to it. It will prove useful in the long run.