Time value of money is a fundamental financial concept. It states that the value of a rupee today is more than its worth in the future. This is because money today can be invested and potentially grow into a larger amount in the future. With delay in investment, the value of the money erodes over time.This principle is equally valid, relevant and useful in the realm of right actions. The value of right action taken today is worth more than the value of the same action taken in the future. This is because the action implemented today can yield multiple benefits to us in terms of not only personal satisfaction, but for healthy relationships, prosperity, goodwill and trust.A right action not taken by us at the right time, on the other hand, not only results in regret and remorse later, but erodes the value of the action over time, through adverse factors like deterioration in health, relationships and trustworthiness.Take, for example, family property matters. Untangling and resolving issues in time can not only help the value of the asset to grow through better utilisation, but also reduce bitterness amongst all stakeholders. Take another instance of postponing of writing a will by a person during her lifetime. Deferring or not making a will in time may create disputes and legal hassles later. The inaction generates avoidable inconveniences, frustration, ill-will and unhappiness among the rightful beneficiaries after the demise of the person. Or, for that matter, not saying sorry in time for a wrong deed. The hesitancy, obduracy or arrogance coming in the way of not expressing an apology in time may often turn disastrous, not only for oneself but other related parties as well.Right actions at the right time are needed both in personal lives as well as in corporate settings, public affairs and governance, for these timely actions can have a multiplier positive effect on individuals, the community and society.Yet, we continue to defer good actions. The reasons could be many — looking for something better or a more opportune time, fear of embarrassment or failure, ego or simply laziness, or being casual.By deferring right actions, we undervalue the present, which is in our control and full of possibilities, and overvalue the future, which is not in our control and full of uncertainties. Wisdom demands that once we are clear about the rightness of an action, we must start acting on it without delay.Put simply, having realised the action as shubh (auspicious), we must implement it shighra (fast).Before breathing his last, Ravan revealed a couple of secrets to Lakshman. The first was this: Shubhasya shighram, ashubhasya kalaharanam. Noble or auspicious desires should be initiated as early as we can, while evil desires should be postponed as much as we can. Ravan, in the end, regretted that in spite of recognising the greatness and glory of Lord Ram, he delayed in apologising and surrendering before the Lord, and in the process, ruined himself, his dear ones, and his golden kingdom.Understanding time value of right action and pressing the concept in real action promptly is critical to enrich our life. The concept, in fact, should be one of our life codes.— The writer is a former bank executive
Universe: Don’t delay the right action
