top of page

By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

The Constitution of Your Money

On the eve of India’s Republic Day, we proudly remember the adoption of our Constitution - a document that gave structure, stability and direction to a young nation. It did not promise instant success, but it provided a framework strong enough to withstand crises, disagreements and change. Interestingly, the same philosophy applies to personal finance. Just as a nation cannot function without a Constitution, your money too needs a clear set of rules. Wealth is not built by chance or luck. It...

The Constitution of Your Money

On the eve of India’s Republic Day, we proudly remember the adoption of our Constitution - a document that gave structure, stability and direction to a young nation. It did not promise instant success, but it provided a framework strong enough to withstand crises, disagreements and change. Interestingly, the same philosophy applies to personal finance. Just as a nation cannot function without a Constitution, your money too needs a clear set of rules. Wealth is not built by chance or luck. It is built by discipline, structure and long-term thinking. Right to Financial Dignity The Constitution guarantees citizens fundamental rights. In personal finance, you too have rights - the right to financial security, the right to dignity in retirement, and the right to protect your family’s future. These rights do not come automatically. They are earned through systematic investing, adequate insurance and prudent planning. Ignoring these rights early in life often leads to financial dependence later, something no individual truly wants. Responsibility of Discipline Along with rights come duties. Citizens are expected to uphold the values of the Constitution. Similarly, investors must uphold financial discipline. Saving regularly, investing sufficiently and consistently, avoiding unnecessary debt and living within one’s means are not optional habits - they are duties. Many people want wealth, but few respect the responsibility that comes with building it. Without discipline, even high incomes fail to create lasting financial stability. Managing Risk A strong republic survives because power is balanced across institutions. In finance, this balance comes from asset allocation and diversification. Long-term goals should be supported by inflation-beating assets such as stocks, mutual funds and gold. Money meant for short-term goals must be parked in safer avenues like bank fixed deposits, recurring deposits or debt mutual funds. This allocation ensures that you create wealth while also having liquidity for near-term expenses or emergencies. Equally important is protecting your assets with adequate health insurance and term life insurance. Evolving With Life Our Constitution allows amendments to stay relevant over time. Financial plans too must evolve. Income changes, family responsibilities grow, goals shift and priorities change. A plan made three years ago may not suit today’s reality. Reviewing and updating investments periodically is not a sign of uncertainty, but of maturity. Flexibility ensures relevance without abandoning core principles. Process Over Emotion A republic functions because laws are followed, not because emotions are trusted. Similarly, successful investing depends on process, not panic or excitement. Market highs and lows will come and go. Investors who react emotionally often do more harm than good. Those who follow a clear financial framework remain aligned with their long-term goals. As we celebrate Republic Day, it is worth reflecting that freedom alone is not enough - structure sustains freedom. A nation survives because its Constitution is respected. Wealth survives because financial discipline is respected. Your money deserves a Constitution of its own. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. He could be reached on 9833133605. Views personal.)

Pappu Yadav Calls for Ban on Bajrang Dal and VHP, Labels Them as ‘Hooligans’

Updated: Mar 20, 2025

Lok Sabha MP criticizes the groups for alleged violence in Nagpur, claims they are harming the country’s progress under government protection


Pappu Yadav

Nagpur: Lok Sabha MP Pappu Yadav has demanded a ban on Bajrang Dal and Vishva Hindu Parishad (VHP), accusing their members of instigating violence in Nagpur. He described them as "hooligans" and claimed that their actions are disrupting the nation's social harmony and economic growth.

"Bajrang Dal and VHP members are hooligans and should be banned. They have government protection, and their activities are negatively impacting the country’s economy and development. This issue needs serious attention," Yadav stated.


Addressing JD(U) leader Sanjeev Kumar's suggestion for Bihar Chief Minister Nitish Kumar to adopt the 'Yogi model' of governance, Yadav dismissed the idea.


"There is no such thing as a 'Yogi model.' A criminal remains a criminal, regardless of caste or religion. Bihar has always led the way, not followed others," he asserted.


Meanwhile, Nagpur remains under curfew for the second consecutive day across ten police station limits after violent clashes erupted on March 17.

A First Information Report (FIR) has been registered under multiple provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, along with the Arms Act, Maharashtra Police Act, and Prevention of Public Property Damage Act at Ganeshpeth Police Station.


According to the FIR filed by Inspector Jitendra Baburao Gadge, 51 individuals, including several minors from areas like Jafar Nagar, Tajbagh, Mominpura, and Bhalaadapura, have been named as accused.


"The protest escalated when the crowd began pelting stones and hurling petrol bombs at police officers. Armed with axes and iron rods, they ignored repeated warnings to disperse and continued violent attacks, endangering both police personnel and civilians," the FIR states.


Maharashtra Minister of State for Home, Yogesh Kadam, has strongly condemned the violence, emphasizing that stern action will be taken against those who assaulted senior police officials.


To maintain law and order, authorities have restricted movement in affected areas, warning that violations of the curfew will be punishable under Section 223 of the BNS.

Comments

bottom of page