This year marks the 150th birth anniversary of Mahatma Gandhi, the man the country lovingly refers to as ‘Bapu.’ There are very few people in the world who don’t know who Mahatma Gandhi is or what he did. Gandhi’s ideas and ideologies have been the touchstone for an honest and righteous life for over a century now. There are countless interpretations of his sayings and his teachings, and all of them inspire people from different walks of life all over the world.

If someone was tasked to use ‘Gandhi’ and ‘finance’ in the same sentence, they’d probably have a hard time coming up with something that makes sense. But contrary to popular belief, and even despite the fact that Gandhi was the epitome of non-materialistic living, there are certain Gandhian ideas that could help you out in your financial planning journey.

So without further ado, here are 3 important personal finance lessons you can learn from the great Mahatma Gandhi –

• “The future depends on what you do today”

‘Yes, of course, I’m definitely going to make some investments and plan out my finances soon.’

Have you ever found yourself saying this? You may be suffering from a case of waiting forever till the time is ‘right.’ Well, then, what exactly is the right time? And how do you know that THAT right time is THE right time?

The answer – You don’t.

In fact, nobody does. The truth is, there’s no right or wrong time to start planning for your future. The only thing that really matters is that you start planning your finances as soon as you can. Don’t worry about how the markets are doing, or how young or old you are, or how much money you make in a month. If you have the time and the patience to start investing, then start planning, NOW.

• “You may never know what results come of your actions, but if you do nothing, there will be no results.”

Investing in anything is risky business; the only thing that differs is the level of risk involved. There is literally no zero-risk investment on planet Earth at this point of time. But does that stop people from chasing their financial dreams? No, it really doesn’t. All over the globe people are putting aside their profits and some, even their savings, into various investment vehicles, in order to grow their money.

However, if they were to only worry about returns all the time, no one would invest in anything.

This quote teaches us a very valuable personal finance lesson – DO NOT chase returns; stick to building a robust investment plan.

• “Seek not greater wealth, but simpler pleasure; not higher fortune, but deeper felicity.”

Despite what many ‘experts’ would tell you, financial planning isn’t just about making money. It’s about WHY you’re making money. It’s about what you would like to do with that money when you finally have it.

The secret is to focus on the future that you desire. Work with your financial advisor to clearly define your financial goals at different stages of your life. A host of factors come into play when you get down to doing this.

Your long-term milestones would include things like retiring early, sending your children to a good university, or maybe even going to university yourself. And your short-term milestones could be going on a long vacation, or deciding to learn a completely new skill, or being able to fund your hobby without digging into your savings.

What you need to remember is that running after high risk or high return investments isn’t what it’s all about, otherwise everybody would be doing just that.

International Money Matters is a SEBI Registered Investment Advisor with offices in Bangalore, Mumbai, New Delhi, Hyderabad, Chennai and Pune servicing its client base spread across India and the globe. The services offered include wealth management, financial planning, financial education and NRI consulting.