THREE PERSONAL FINANCE LESSONS FROM MOVIE SANJU
We often pride on we have 1000+ friends on facebook, around 1 million followers on Instagram, my friend circle is really cool, my relatives are supportive, but in reality, when you are in real financial crunches, there is no one to lend you money or support even in genuine cases.
Sanjay Dutt’s biographic movie Sanju is a huge success on domestic box office. Apart from decent entertainment and emotional value across age groups, it also provides important personal finance lessons.
#1 Never Blindly Follow Friends’/Relatives’ Advice
It is often believed that trust is as essential to a relationship, as oxygen to live. However, friends and family cannot be trusted when it comes to lending support or money in financial crunches. In Sanjay Dutt’s biopic, Sanju’s friend consumes glucose but induces him to consume drugs – a perfect example of peer pressure and blindly trusting the so-believed “friends” or “Well-wishers”.
Similarly, there are these no-fees based financial planners who recommend us investment schemes or assets, which gives you poor returns just for the hefty commissions and trailing income on a premium amount paid every year by the investor. It is always suggestive to stay away from such advice when it comes to investment.
#2 Life Always Gives You A Second Chance To Improve Your Past Mistakes
Gradually Sanjay Dutt got badly addicted to drugs. He kept finding reasons to consume cocaine and heroin. However, after a few horrifying incidents, he decided to quit on drugs. He overcame this addiction after undergoing treatment. Self-review is a must be it any facet of life.
Similarly, in investments, you need to frequently review your investments. Overcome your past mistakes of investments, stop investing in non-performing funds in order to accomplish your financial goals.
#3 Life Is Not An Experiment Lab
Life is not an experiment lab, getting in addictions, letting your peer control your thoughts; your life is not a joke. There are things where you need to think and then act.
Similarly, investing in stocks without properly understanding or studying the scripts, the company, fund performance etc. If you indulge in equities with the greed to make quick profits, you may end up buying unknown stocks and making the loss in long-term. Hence, it is important to do your homework first.