“Do not save what is left after spending but spend what is left after saving.”
Do you know who said this?
A man who never built a factory, never owned a big production line… yet, for years, he was the richest person in the world.
Yes, I’m talking about Warren Buffett.
When I first heard this quote, I thought – Wow, that’s brilliant!
But then my wallet whispered, “Nice advice… but I’m already empty.”
Like many of you here – well, except perhaps the more financially wise among us, like Toastmaster Rajesh – my financial journey didn’t begin with a spreadsheet or a stock portfolio. It began with… a piggy bank shaped like a cartoon elephant.
My “investment strategy” back then was simple: deposit coins… withdraw chocolate. Brilliant plan, right? At least until the chocolate ran out!
Money Comes In… But Goes Out Faster
The first time I earned a salary, I thought I had “arrived.”
I promised myself: “This month, I will save at least 50% of my income.”
By the 10th of the month, 50% was gone. By the 20th, my bank balance was playing hide-and-seek. And on the last day, I was eating instant noodles thinking… “This must be what Warren Buffett meant by spending less.”
That’s when I realized – saving isn’t just about money… it’s about mindset.
Why Your Money Needs a Job
Then came the real lesson – the importance of investment.
If you don’t invest, you’ll keep working hard while your money… does absolutely nothing. And honestly, I don’t like that arrangement. Do you?
Money is like a lazy teenager. Leave it lying around, and it will sleep all day. But put it to work – in investments – and it will start earning for you.
You work hard for money every day. Isn’t it fair that your money works hard for you too?
Here are a few ways to make your money sweat:
- Stocks: You buy a small piece of a company. Exciting, but like a roller coaster – thrilling for some, terrifying for others.
- Mutual Funds: Great for people who don’t have time to watch the market… or for those who panic when their share price drops by 2 rupees.
- Real Estate: Can give you rental income… or endless weekends fixing leaky taps.
The point is investments grow your money faster than savings alone. Over time, they benefit from the magic of compound interest, which Albert Einstein allegedly called the eighth wonder of the world. If Einstein said it, who are we to argue?
Funny Truths About Money
We all have that one friend who says: “I’ll start investing when I earn more.”
But here’s the truth: If you can’t save ₹500 from ₹5,000, you won’t magically save ₹50,000 from ₹5,00,000.
And here’s another truth: buying things you don’t need, with money you don’t have, to impress people you don’t like… is the fastest way to retire broke.
I learned that the hard way when I bought an expensive smartwatch. I thought it would make me more productive. Instead, it just reminded me every hour… how much debt I had.
Back to the Quote
So, my friends, remember Warren Buffett’s wisdom:
“Do not save what is left after spending, but spend what is left after saving.”
Whether you’re saving for your dream home, your child’s education, or a peaceful retirement, the best time to start investing was yesterday. The second-best time… is today.
Make your money work for you, so one day you can stop working for it.
TM Arun Kumar Venu
Mussafah Toastmasters Club
