Writer : Shikha Tailang
Adani’s 50-30-20 Rule – A Simple Mantra to Change Your Life.
Summary :
This story is based on the financial problems of three friends – Kapil, Raunak and Karanji – and the advice they got from crorepati Adani. Adani’s 50-30-20 formula (50% needs, 30% investment, 20% luxury) gives the mantra of balance in life and financial success. This story highlights the understanding of common middle class life, struggle, savings and investment.
Let’s read this story in detail based on the success mantra of crorepati Adani –
(AI genrated translation of करोड़पति अडाणी की नसीहत)
Raunak – Yes, Mota Bhai! We want to know how you reached this position, what is that thing which made you a millionaire?
Adani – Yes, yes I will tell you! But first, let us decide one thing that you people will call me Mota i.e. elder brother only. Neither Sir nor Saheb!
Kapil, Raunak and Karanji said together – Yes! Mota Bhai!
After listening to this, Adani threw a light smile and said – Look, brothers! God has given us all two hands and two legs and an equal number of 24 hours every day. But not all of us can live the same life. Some become millionaires and some remain poor. Actually, this is all a game of thinking. When I was a teenager, my father Chhadami Bhai sent me to a village in Kerala with only seven thousand rupees. He also said that if you convert these seven thousand rupees into seven lakhs, only then will I let you enter my bungalow. There will be two conditions with this – first, you will not take any loan and the second condition is that you will stay away from all kinds of addictions. If you are not able to do this, then I will consider that I do not have a son. I reached Kerala with that seven thousand rupees. First, I worked in the coffee plantations there. I got some money from that. Then I saw that there are a lot of cashew nuts in Kerala. Their rates are much lower than Gujarat. So I contacted some of my friends and arranged to sell cashew nuts in Gujarat. When I made good profits in this business, I invested my savings in the gold business. After this, my income kept increasing. After living in Kerala for about three years, I had collected more than eight lakh rupees!
Karanji – Then you must have come to your father and placed that money at his feet and said – Papa! With your blessings and God’s grace, I have done what you wanted!
Adani – Exactly! This is what happened. Papa hugged me and said with pride – My son has passed the exam! Then he said that with this amount, take your ancestral business forward and yes, along with this, keep one more thing in mind the household expenses should be within limits. There should be arrangements for emergencies and whoever comes to the door should not go hungry.
Kapil – Wow! These are very good things. We are not able to make a system that how much money from our income should be kept for household expenses, how much to save for emergencies and how much to invest where. How much money to spend on our hobbies?
Adani- This is a very good question. I have found a formula for this.
Raunak and Karanji- What is that formula?
By then tea was served to all four of them. Adani said while pouring tea from the kettle into the cups- Let’s take a tea break now. Then I will tell you my formula!
When all four finished their cups of tea, Adani said- That formula is very simple – 50-30-20!
Karanji- What is this 50-30-20?
Adani – Let me tell you! Three things are very important in life – food, clothes and shelter. You must keep 50% of your income for all these. 30% should be invested somewhere so that expenses like emergency, medical, children’s education, marriage etc. can be taken care of. Whether it is in the post office or bank or gold or share market or in buying immovable property like flat, shop etc.! Life becomes easy with the income from this and you don’t have to work too hard! The remaining 20% should be spent on buying luxury items like a fridge, car, AC or cooler etc. or on hobbies or travelling etc. With this formula, your income may be 20 thousand rupees per month 2 lakh rupees or two crore rupees per month! It becomes easy to survive. I have achieved my life targets by following this formula.
Kapil – Wah Mota Bhai! This simple formula can improve our lives too! We are grateful to you. Our eyes have opened. Till now we have been spending without thinking! But now it seems that by adopting this formula we will be benefited and the difficulties of life will become easy!
Adani – Actually, what is it, brothers? We do not control our expenses nor do we pay attention to investment, due to this difference the poor remain poor and the rich keep getting richer!
After this meeting, the three friends took leave from Adani and left for their respective homes. They were completely confident that the advice given by millionaire Adani would make their lives prosperous.
(Imagenary story)
