Entrepreneur Anant Jain is the founder and owner of Anant Yarn Traders. He put a lot of effort, knowledge and expertise into this endeavor. We caught him talking candidly about the finances of his life.
When asked how he likes to spend his money, he replied, “I like to live life to the fullest. You cannot guarantee anything in the future. So why not live in the present and enjoy like there’s no tomorrow. He also revealed that at no time did he take money for granted. This is because he only reached this position after pouring his heart and soul into the business and treating it like his own baby.
He shared some financial advice for young adults and all millennials!
1. You shouldn’t spend recklessly and be hesitant. Questioning your choices and purchases will help you decide if these are even necessary or just part of your spending habits.
2. You must inculcate the habit of spending regularly. Categorize your list of things to understand in which areas a necessary purchase is required and where can you save some for future investments.
3. You should avoid any type of debt if possible. There is evidence in the past that debt has crushed many people, especially young teenagers. Entrepreneur Anant Jain thinks debt is one of the worst forms of addiction you can have. Until you don’t have to avoid all kinds of situations that you know will force you to apply for a loan.
4. Never depend on other people for financial support. By doing this, you only make yourself more vulnerable and dependent. Today, there are several ways to earn money with just a few clicks. Focus on developing your skills and your income.
5. It doesn’t matter how big your earnings are at the initial stage. Don’t overemphasize the opinions of others and learn to be financially independent on your terms. It’s easy to be swayed by people around you who are doing well in using certain money-making shortcuts. It is important to understand that this may not be in your best interest and there is no guarantee that it will work for you. Be wise and always chart your course.
6. Invest in yourself and learn some courses that will help you earn money. For example, get to know how the stock market works, as these courses are one-time investments and in fact, there is a lot of free content already available through which you can learn and earn on your own.