Actor Suniel Shetty with daughter Athiya
Successful businessman, producer, and film actor Suniel Shetty is a frequent contributor to his followers on LinkedIn, providing them with the hard-earned information he has gleaned from his work in the film industry and other businesses.
Suniel Shetty recently wrote on LinkedIn about how his family had taught him and his sisters to be frugal and how it had been his "default setting."
Recalling his growing years in a middle-class family and environment, he said, "Growing up, my family had a very basic standard of living. We didn't have a lot, just about enough. We definitely did not have the luxuries that we take for granted today. However, my parents, through the way they lived and worked, taught my sisters and me the importance of saving and building for the future. I think frugality was our default setting and has remained so."
He further said that despite his family's better monetary conditions, his parents and siblings kept maintaining a middle-class lifestyle.
"Even after Dad started to do better in life, there were no major changes in our lifestyle. He had already gone beyond his means to give us the best education he could afford at the time, so the only real change was that we moved homes."
"When I look back now, I realise how my parents were clear about their approach to money. They saw to it that whatever excess they had, went into uplifting their children's lives through knowledge and experiences, growing the business, and helping the community."
Mr Shetty further said that after starting his career in the film industry and earning well in life, he continued to avoid the temptation of a "flashy lifestyle" and looked at most money decisions from a long-term lens.
"Mana and I prioritise long-term stability over short-lived extravagance. Frugality continues to be my default setting, and that's allowed us to create a pool of investments across a few different asset classes. Diversification is important, yet I know my boundaries. I do not pursue something I don't fully understand."
He continued his post with an emphasis on the importance of "understanding money". He said it is necessary to "educate yourself about finance or get advice from trusted professionals."
He concluded his post by talking about the importance of investment strategy and wrote "In investing, consistency is key".