Entrepreneur Sneh Binny, who is Owner and Founder of Binny’s Brigade, a Tennis Premier League Team, says that he started to earn money when he was in school. However, he adds that only when he started his business, did he understand the true value that money held.
“When I was in 6th grade, I started making money by creating homemade magic tricks and selling them to my friends. They used their pocket money to buy my tricks, and that’s how I earned my pocket money,” he says.
He adds, “I began to understand the value of money when I started my own business. It was when I had to manage my finances, and expenses and make a critical financial decision for my company that I truly appreciated how every single rupee I spent could impact the success and sustainability of my business. This realization made me more conscious of the importance of money in the business world.”
For him, money became a way to achieve his dreams. “Becoming financially independent made me realise the effort and sacrifices they have made to provide for our family and my upbringing. Also, I have learned the importance of managing money wisely and using it to achieve my goals. The money I discovered is not just a currency, but a tool to achieve goals and secure a better future, deepening my respect for the role it plays in our lives,” he says.
- Advertisement -
Ask him what financial independence means to him, and he says, “For me, it’s like having the financial stability and resources to pursue my goals and aspirations, invest in opportunities, and face unexpected challenges without any significant financial stress. It also involves the flexibility to retire whenever I choose, pursue entrepreneurial ventures, and provide financial security for my family.”
He adds, “My upbringing and my experiences have taught me some valuable lessons about money.
Saving money – It’s essential to set aside a portion of your income. Saving money provides a safety net for unexpected situations. And it also helps you achieve your financial goals. Paying taxes on time – Avoid any legal issues by paying taxes on time. Never play hide-and-seek with your taxes, they always have a way to find you and it’s not a fun game to lose! keep emotions out of business – It’s very crucial to make decisions based on facts, not feelings. And you should always separate your emotions from any business decisions.”
He says that one must learn to invest wisely. “It’s also important to invest at the right time. Investing wisely is like a sturdy chair with multiple legs rather than relying on a single leg. When you are diversifying your investment portfolio, you’re spreading your money across different assets. A diversified investment portfolio can lead to a more balanced and fruitful financial future. Investing in property can be a solid option, but it’s not the only option. Consider the financial goals and the risk tolerance while choosing an investment. All these principles can guide you toward financial stability and success
