How to Enjoy Save and Invest - Buddhas Path

You might be astonished to learn that the Buddha taught more than just letting go, renunciation, and giving up money. He generally talked about it with the Buddhist monks. However, this is not true of all of the Buddha's teachings.

Buddha followers have families to look for. The Buddha had no objection to laypeople earning money as long as it was done properly. And we must be cautious with our money, which we have worked hard for, so that it is not squandered, wasted, or lost due to some folly - so that it may be used to care for our families, ourselves, and the environment.

The Buddha didn't immediately despise the wealthy; in fact, several Kings sought instruction from the Buddha. The Buddha never held the belief that "They are wealthy and powerful, therefore they are bad."

Now, if someone is wealthy and influential as a result of corruption — cheating, stealing and injuring others – that person is corrupt. This is incorrect.

If, on the other hand, someone earned their money via honest methods, proper livelihood, and hard labor, that is acceptable. Remember that one of the Noble Eightfold Path's factors is a proper livelihood.

Some people may be rich or billionaires, but that does not inherently make them wicked. It is a person's actions that determine whether they are good or wicked, not the quantity of money they have in the bank.

Maybe you know someone who is wealthy, but they earned it correctly - don't despise them for it. And if someone has made their money honestly, ethically, and without defrauding anybody else, don't be jealous of them.

Maybe instead of constantly partying and going out, they worked many hours a day, 6-7 days a week for many, many years, paying all their taxes throughout, sacrificing their social life, sacrificing time with their family, and even sacrificing their health for years – to be able to save enough to get to where they are now.

So, the Buddha said in the Sigalovada Sutta (which includes a lot of helpful counsel for lay followers) — split your earnings (after tax) into four parts:

25% – 1 Part to be enjoyed and utilized as you see fit

50% – 2 halves to be invested in the business

25 percent – 1 part set aside for emergencies

Obviously, you don't have to have these exact percentages - but it provides you a good notion because each element might be a lesser part of a larger part depending on your own circumstances.

So you need money to be able to enjoy your life — otherwise, what is the point of living a lay life? Spend no more than a quarter of your take-home earnings to have fun.

Also, the Buddha realized that investing and running a business (rather than simply working for someone else) might be an excellent method to build money – and that a major portion of your earnings (50 percent) should be committed to this.

Obviously, you'll need to be prudent with your money, make sound business decisions, and hone your abilities in order to operate a successful firm. So you still need to put in the effort and keep an eye on the bottom line if you don't want to go bankrupt. Nothing in life is definite — life is unpredictable

Whatever you do – whether it's investing in managed funds, investing in real estate, or starting your own business - you must comprehend what you're doing or risk losing money. So a good slogan is: if someone asks you to invest in anything where they talk big and make huge claims about how you'll make money, don't do it. Take care of what you have.

You should also have a quarter of your earnings saved up as an emergency fund (this includes buying insurance for the different areas of your life). Don't spend your entire paycheck as soon as you get it — you need to save for unanticipated events.

Don't expect the government or other family members to constantly look after you (for example, free healthcare or free pension benefits) because what if the rules change? Governments change and will do anything they want - don't put your trust in them. Take some responsibility for ensuring that you have enough spare cash saved up to cover your personal expenses if a tragedy hits.

And with this 25%, you can also ensure that you have enough insurance purchased – which may save you money, say – if anything happens to your car, residence, or health, or if something happens that prevents you from working, or if someone else is unintentionally injured by your automobile. Make this a priority or you may forget or claim that you were too busy to complete it.

And by doing these things with your after-tax earnings, you gradually accumulate money in harmless ways – just as bees gradually accumulate nectar in ways that do not hurt other species – to build up massive stockpiles of honey back at the hive. And suddenly, before you realize it, the quantity of riches has grown to the size of an anthill. And once gathered, you may use it to care for your family — you can use it to care for your parents, your husband or wife, and your children.