Jeya Motors - Mauritius

16/07/2023

16/07/2023

12/06/2023

Invest first before living like a King and Queen Asset vs Liability

Son: Dad, may I speak with you?
Dad: Go ahead.
Son: Among all my classmates, I am the only one without a car. It is embarrassing.
Dad: What do you want me to do?
Son: I need a car. I don't want to feel odd.
Dad: Do you have a particular car in mind?
Son: Yes dad (smiling)
Dad: How much?
Son: 200,000 pesos
Dad: I will give you the money on one condition.
Son: What is the condition?
Dad: You will not use the money to buy a car but invest it. If you make enough profit from the investment, you can go ahead and buy the car.
Son: Deal.

Then, the father gave him a cheque of 200,000 pesos. The son cashed the cheque and invested it in obedience to the verbal agreement that he had with his father.

Some months later, the father asked the son how he was faring. The son responded that his business was improving. The father left him.

After some months again, the father asked him about his business
again and the son told him that he is making a lot of profit from the business.

When it was exactly a year after he gave him the money, the father asked him to show him how far the business has gone. The son readily agreed and the following discussion took place:

Dad: From this I can see that you have made a lot of money.
Son: Yes dad.
Dad: Do you still remember our agreement?
Son: Yes
Dad: What is it?
Son: We agreed that I should invest the money and buy the car from the profit.
Dad: Why have you not bought the car?
Son: I don't need the car again. I want to invest more.
Dad: Good. You have learnt the lessons that I wanted to teach you.
- You didn't really need the car, you just wanted to feel among. That would have placed extra financial obligations on you. It wasn't an asset then; but a liability.
- Two, it is very important for you to invest in your future before living like a king.
Son: Thanks dad.

Then the father gave him the keys of the latest model of that car.

MORALS:
1. Always invest first before you start living the way you want.

2. What you see as a need now may become a want if you can take a little time to get over your feelings.

3. Try to be able to distinguish between an asset and a liability so that what you see as an asset today will not become a liability to you tomorrow.

💁‍♀️to those who know the real value of wealth ,congrats 👏⏳🥳

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Follow Accounting Knowledge Concepts

27/11/2022

𝑇𝑢𝑛𝑒 𝑖𝑛 𝑡𝑜 𝑅𝑎𝑑𝑖𝑜 𝐹𝑖𝑗𝑖 2, 𝑦𝑜𝑢𝑟 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑛𝑒 𝐻𝑖𝑛𝑑𝑖 𝑟𝑎𝑑𝑖𝑜 𝑠𝑡𝑎𝑡𝑖𝑜𝑛 𝑜𝑛 𝑡ℎ𝑒𝑠𝑒 𝑓𝑟𝑒𝑞𝑢𝑒𝑛𝑐𝑖𝑒𝑠.
𝑆𝑢𝑣𝑎/𝑁𝑎𝑑𝑖/𝐿𝑎𝑢𝑡𝑜𝑘𝑎/𝐿𝑎𝑏𝑎𝑠𝑎 - 105.0 𝐹𝑀
𝑆𝑖𝑔𝑎𝑡𝑜𝑘𝑎/ 𝐵𝑎 - 104.8 𝐹𝑀
𝑇𝑎𝑣𝑢𝑎 - 105.2 𝐹𝑀
𝑅𝑎𝑘𝑖𝑟𝑎𝑘𝑖 - 105.4 𝐹𝑀

27/11/2022

27/11/2022

23/11/2022

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