Financial Planning Real conversation – Vaniya Buddhi

financial planning

Recently when I was travelling in a train I heard an interesting conversation between two people about the importance of saving money and financial planning. They were from famous Gujarati communities called as Patel and Vaniya. I thought to share this interesting discussion for the benefit of all. It was Gujarati conversation I have translated it in English.

So, let’s take a look at a conversation between two Gujarati’s Patel and Vaniya (Baniya).

Financial Planning Real conversation

Vaniya – Hi Mr.Patel How are you? I heard you are about to retire, so have you done financial planning for retirement or not?

Patel – No what is that? I have not done anything. I have two sons they will take care of me. Whatever money I will be receiving after retirement, I will be handing it over to my sons and they will manage everything.

Vaniya- Imagine if your sons refuse to take care of you in future. What will you do?

Patel – Your question is valid. However, I have never thought about it. Let’s see what is written in my destiny.

Vaniya – It is not a matter of destiny. It is all about financial planning. See today my son and daughter in law take very good care of me. It is not because of destiny it is because of money.

Patel – How?

Also Read – Financial Planning Steps that works for everyone

Vaniya – Listen carefully. I got a job at the age of 18. I was appointed as an ordinary clerk in the health department of the government. My first salary was Rs.100.

I handed over my first salary to my father. My father asked me a simple question. Imagine instead of Rs.100 if Rs.90 was offered to you as a salary what you would have done?

I immediately responded I would have accepted a job with Rs.90.

My father was happy with my answer. He thought me a valuable lesson of saving on that day. He said now onwards you need to consider that for lifetime your salary will remain 10% low.

You need to open an account at the post office. Once your account is opened you need to deposit 10% of your salary every month in this account. Make sure you never withdraw anything from this account.

Just deposit 10% money every month and forget that you have deposited anything in the post.

Patel – What difference it will make if you deposit this much amount in the account?

Vaniya – My brother this small saving will make a lot of difference. I started with a small saving of Rs.10. This saving has increased significantly with my salary. After 35 years of a job, I was able to accumulate a sum of 96 Lac along with interest in the post office account.

The saving of 96 Lac is generating interest income of Rs.60000 every month. From this income, I am purchasing mutual funds of Rs.30000 every month on the name of my grandson. The remaining amount I am handing over to my daughter in law.

Patel – Wow! If you give this much amount to your daughter in law obviously they will keep you happy. However, please tell me in case if you need money for your daily you will ask your daughter in law?

Vaniya – I never ask any money from them as I am getting a pension of Rs.20000 every month. I generally withdraw Rs.5000 from my pension. I take my grandson to play area and garden every Sunday.

I take FD on the name of my daughter from remaining pension amount Rs.15000 every month. So, it makes my daughter also happy.

Patel – Wow! You are true Vaniya bhai with Vaniya Buddhi (Trader Mentality). 🙂

You have done a very good financial planning and I learned a lot of thing from you. Unfortunately, we could not meet early otherwise I could also have saved lot of money like you 🙁

The conversation ends.

My dear blog reader we have learned following lessons from above conversation.

  • Never take retirement planning lightly.
  • You should start investing money from the day we start earning money.
  • You should maintain discipline and invest a certain percentage of money every month in a suitable financial instrument.
  • Remember you can generate a big retirement corpus by investing money every month.
  • Remember Financial Planning is a key to financial success.
  • In order to live successful life Vaniya Buddhi (Intelligence like trader) is a must.

This article is dedicated to all first-time Investors.

Note – The sole purpose of this article is to share knowledge and not to devalue any community.

If you like this conversation, do share it with your friends give them a chance to learn a valuable lesson about financial planning.

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Article by Raviraj

Raviraj is the man behind He is graduate in finance, engaged in blogging since 7 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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  1. PSV says:

    Excellent idea to motivate savings.

  2. Hardik says:

    Really Nice !!!

    I also start small saving now. If possible can you please also tell me more about Post office plan ?

    Looking for reply.

    Thank you….

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