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What is Power of Compounding and it's Magic in Financial Planning?

As you already know that for any reason, whether that situation has arisen due to some bad habit or due to some unimaginable reason like corona epidemic etc. and adversely affects health but also affects your family and family reputation and exposes your lack that you do not have any backup or proper solution or resource to deal with it at the time of unimaginable disaster .

Power Of Compounding
As Microsoft co-founder Bill Gates has also said that "To be born poor is not a sin but to die poor is a sin" from this statement you can understand that if you want to get out of the quagmire of poverty, first of all you have to have a strong will and financial There is a dire need for discipline. If you have some easy measures, like if you have some bad habits, then stop smoking, alcohol, party or roaming habits and also stay away from shopping malls or big stores because the price is high there as well as something or the other. Unnecessary purchases also happen and one can buy the goods they need from their alternatives like market or small shops nearby.
If you really want to get rid of the curse of poverty, then with some measures like strong will and strict discipline to keep all your unnecessary expenses under control as well as regular savings according to your financial capacity is very necessary otherwise you can take various types of loans. You will get caught in the web of money and you will not only pay your precious money in the form of interest, you may also have to face mental stress. And I will also give you information about a similar financial tool in this blog page, which is called the eighth wonder of the world and when it comes to savings, one thing will always be remembered that regular savings are always strong intentions and by cutting down on unnecessary expenses. At the same time, remember one more thing that you can not only stop the big and important expenses, but you can save a decent amount by stopping the small expenses, such as by curbing your bad habits or if you are around If you are going somewhere, you can also go on foot and by saving the fare of rickshaw or taxi, your health will also be good by walking on foot. Now let's talk about savings, then you will have to start your savings with the help of such a financial tool where the principle of compound interest is applicable, such as mutual funds giving high returns, which you can understand with the help of internet or You can choose with the help of any of your financial advisors and according to your financial capacity, you can also start with small monthly installment which is also called SIP or Systematic Investment Plan or invest some part of your monthly earnings every month in your business. Be that your working capital will keep increasing every month and along with this, your monthly income will also increase due to increase in sales.

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Now let us talk about why Power of Compounding is called the eighth wonder of the world. Suppose if someone tells you that he will give you one crore rupees after 30 days, but all you have to do is to give him only one rupee on the first day and double that one rupee on the second day i.e. two rupees and on the third day. On the day you have to give double of this i.e. four rupees and in the same way you have to keep giving it by doubling it for thirty days and you don't even need to give this money to him every day because that too after thirty days you have to give one crore rupees in lump sum. It is going to be done after 30 days and will take or give whatever you have to do, then you will happily agree to it with the desire to get one crore rupees, but alas, in these thirty days, the power of compounding will do its work and You have to give to take. If you still do not believe, then just take a look at the chart below and you will believe why Power of Compounding is called the eighth wonder of the world.

Power Of Compounding

  Day 01      1 Rupee

  Day 02      2 Rupees

  Day 03      4 Rupees

  Day 04      8 Rupees

  Day 05      16 Rupees

  Day 06      32 Rupees

  Day 07      64 Rupees

  Day 08      128 Rupees

  Day 09      256 Rupees

  Day 10      512 Rupees

  Day 11     1024 Rupees

  Day 12     2048 Rupees

 Day 13      4096 Rupees

 Day 14      8192 Rupees

 Day 15      16384 Rupees

 Day 16      32768 Rupees

 Day 17      65536 Rupees

 Day 18      131072 Rupees

 Day 19      262144 Rupees

 Day 20      524288 Rupees

 Day 21      1048576 Rupees

 Day 22      2097152 Rupees

 Day 23      4194304 Rupees

 Day 24      8388608 Rupees

 Day 25      16777216 Rupees

 Day 26      33554432 Rupees

 Day 27      67108864 Rupees

 Day 28      134217728 Rupees

 Day 29      268435456 Rupees

 Day 30      536870912 Rupees

Yes, fifty three crores sixty eight lakh seventy thousand nine hundred and twelve rupees only. Now see how this money which you gave to you was not worth anything and you had seen one crore very big amount, so now you have to deduct your one crore and give the outstanding fifty-two crore sixty eight lakh seventy thousand no twelve rupees And now you must have understood the power of compounding very well.

However, you will not find any such financial tool that can do such a miracle in just 30 days and also always remember that by saving your small unnecessary expenses, if you invest for some long time, if you invest for some long time and if you save some unnecessary expenses. Setting goals like marriage of your son or daughter or giving them a proper business in their youth, retirement plan or whatever you want, that dream can definitely come to fruition and you only have to control your unnecessary expenses. I have to and can start investing regularly in any proper financial tool where Power of Compounding Rule is applicable and if you do not have enough knowledge about it then you can check on internet or consult one of your trusted financial advisor. You can start your investment and you will see this wonder everyday that a person engaged in a government job or an employee or a good businessman in a good private company must have lived around you and on the basis of regular investment, they would become rich day by day. and that everything is accessible to them I am what is only a dream for a person trapped in the quagmire of poverty.

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