‘Being poor or rich is a matter of attitude’

Being poor or rich is a matter of attitude and it up to an individual on how efficiently one can use his/her resources said Securities and Exchange Board of India (SEBI) resource person and Associate Professor, Dimapur Government College, Dr. Libanthung Ngullie, while addressing a brain storming workshop on financial education for the middle income group specially organized for Kyong (Lotha) middle income age group at Chumpo Ki at DC court junction organized by Dongphi Chokae Okho (DCO) Saturday. 

Speaking on the steps to achieve financial goals and financial emergencies every individual faced, the resource person stressed on the basic question of every human being such as What if I die today? What will happen to my children? what if I get sick?

To attain financial freedom, the resource person said that every individual needs to identify and set financial goals combined with suitable investment arena, evaluate alternatives and review and revise the financial plans.

Spelling on smart goals the Securities and Exchange Board of India (SEBI) resource person said financial goals should be specific, measurable, achievable and realistic and time bound.

“Better to start saving early because of compounding effect” Dr. Liban Ngullie said while encouraging the participants of the workshop comprising of Business individuals, government servants, entrepreneurs and others.

Pointing out the need for financial education and risk involved while trying to attain financial freedom, the SEBI resource person pointed the ill effects such as financial inflation, too much credit, rat race, risky investments, credit cards, turbulent market condition, ponzi schemes while individuals try to attain successes.

He also warned the participants of these conditions so that less errors and mistakes are committed while striving to attain financial freedom.

The resource person also educated the participants on some of the savings schemes such as fixed deposits, recurring deposits, Nidhi (round pay) Self Help Groups, bank loans, TDR, STDR, mutual funds, stock and exchanges in order to achieve financial freedom at the young age.

Earlier, W.C. Humtsoe while highlighting the aims and goals of the workshop as well as about the Dongphi Chokae Okho (DCO) said that the DCO strive for change within the community, create a unity among the lotha community, to promote talents and its cultures.

The programme was chaired by George Murry, DCO member and invocation was pronounced by Pastor United Baptist Church, Dimapur.