Copying Might Work in Exams, But Not in Finances!

We all know copying is wrong — yet in life, it’s something many of us are tempted to do. Whether it’s glancing at a classmate’s answer sheet during exams, imitating a business competitor, or trying to recreate the lifestyles of people we see in movies or on social media, copying seems like a shortcut to success.

But here’s the truth: what might pass in a classroom or on a film screen can be disastrous in real life — especially when it comes to money.

Imitating Others in Finance: A Risky Game

We often fall into the trap of imitating others’ financial decisions. If someone we know invests in a certain policy or mutual fund, we feel tempted to do the same — assuming that if it worked for them, it’ll work for us too. But finances don’t work like that.

Unlike an exam paper, where every student answers the same questions, in life, every individual and every family has a different question paper — different needs, goals, and challenges. Copying someone else’s financial strategy without understanding your own needs is like watching a tiger and trying to scare it off by wearing a tiger mask — an illusion that can backfire.

Looking rich and being rich are two very different things. Looking rich is easy — fancy clothes, gadgets, cars — but building real wealth takes effort, discipline, and planning. That’s why so many people choose to fake the lifestyle instead of doing the hard work required to earn it.

The Problem With Financial Copy-Paste

Think about this: copying in exams works because the questions are the same. But in life, no two people have the same financial responsibilities. One might need to save for a child’s education in 5 years, another for retirement in 20. If you blindly follow another person’s financial choices, you may miss your own goals and expose yourself to risks you’re not prepared for.

Instead of copying, you need clarity. You need to know:

• What are your priorities?

• What do you need, and when?

• What are the possible risks you might face along the way?

These two ‘P’s — Priorities and Probabilities — form the backbone of effective financial planning.

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Set Clear Financial Goals

Start with the big life events: your children’s education, their marriage, and your retirement. You should be able to estimate:

• When your daughter will enter college

• What the expected fees might be at that time

• How much you’ll need per month after retirement

• How inflation will impact these future expenses

Only when you have clear targets can you plan your investments effectively to meet them.

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Prepare for the Unexpected: Health and Life Insurance

Even the best-laid plans can be thrown off course by an unexpected event — and the most common of these is illness. In today’s world, a single hospitalization can cost lakhs. If the primary earner falls ill, it can shake the entire family’s financial stability.

That’s why health insurance is not optional — it’s a must. Likewise, life insurance gives peace of mind to your loved ones in case of an unfortunate event.

But don’t stop there. Ask yourself: Is the insurance amount sufficient?

For example, a ₹5 lakh health policy might sound decent today. But healthcare costs are rising rapidly. Ten years ago, a knee replacement surgery cost ₹60,000 — now it’s ₹3 lakhs. A decade from now, it might be ₹9 lakhs!

So, plan accordingly. Yes, higher coverage comes with a slightly higher premium. But the difference between a ₹5 lakh and a ₹50 lakh policy might just be ₹1,250 a month — a small price for a huge safety net.

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Invest for the Future, Not for Appearances

When planning for your children’s future, make an educated guess about how much their college fees might be in 10 or 15 years. Then choose investment avenues that can help you reach those figures, not based on trends or hearsay.

Don’t lose your calm by constantly comparing yourself to others.

Some people chase stock market returns hoping for overnight riches. But where there’s the potential for high returns, there’s also high risk. If you’re not careful, you may lose not just money but your peace of mind — and what’s the point of being rich if you’re mentally drained?

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Focus on What Truly Matters

Your responsibility is to provide a good education for your children and ensure a dignified retirement for yourself. These are personal, meaningful goals — not influenced by what your neighbors earn or what your relatives own.

Chasing money just to outshine others might increase your net worth, but not your satisfaction. Instead, build a life that brings you peace, purpose, and financial security.

Final Thought

In the world of finances, there is no one-size-fits-all. Your goals, risks, and dreams are unique to you. So make a plan that reflects that. Copying someone else’s strategy may leave you unprepared and unsatisfied.

Be wise, stay informed, and most importantly — know your own financial question paper before trying to write the answers

✨ About Me

Hi! I’m Manikanta Reddy, a passionate finance enthusiast with a strong understanding of money management, personal finance, and smart investment strategies. I believe financial literacy is the foundation of a secure and stress-free life — and I’m here to share practical insights, real-life examples, and simplified advice to help you make better financial decisions.

Whether it’s choosing between paying off a loan or investing, building emergency funds, or planning for retirement — I love breaking down complex topics into easy, actionable tips that anyone can follow.

Let’s learn, grow, and build wealth — the smart way. 💰