Learn 5 saving tips from Chandrayaan-3, will be useful in personal growth - Newztezz Online


Monday, August 28, 2023

Learn 5 saving tips from Chandrayaan-3, will be useful in personal growth

India has registered its name in the history of the world with the success of Chandrayaan-3 mission. But do you know that the success formula of Chandrayaan-3 can help in improving and growth of your personal finance. Let's know...

With the Chandrayaan-3 mission, India has become the first country in the world to reach the South Pole of the Moon. Not only this, in a budget of just Rs 615 crores, the scientists of ISRO have also shown a unique feat by doing such a feat. But this is not an instant success, rather the hard work, long wait and patience of ISRO scientists has also been an important reason behind it. You can learn some such things from Chandrayaan-3, which will help you in strengthening personal financial growth.

From the Chandrayaan-3 mission, you learn to move forward slowly and achieve great success, that is, accumulation of substantial funds, reducing risk and better returns. Nevertheless, you can definitely learn these 5 tips from Chandrayaan-3 mission.

Chandrayaan-3 and saving tips

The success of Chandrayaan-3 is going to make every Indian giddy. At the same time, the learning from this can keep you on top in investment.

Before Chandrayaan-3, India completed Chandrayaan-1 in the year 2008 and Chandrayaan-2 in 2019. Using the experience gained from both these missions, focused on Chandrayaan-3. In this way, after long waiting and patience, the scientists of ISRO finally got success. This thing helps in strengthening personal finance. Long term investment, learning from mistakes and patience will fetch you good returns.

Before the success of Chandrayaan-3, ISRO scientists had to see the failure of Chandrayaan-2 in 2019. On the last occasion, Chandrayaan-2 lost contact and did a crash landing. Even in such a situation, the scientists of ISRO remained busy in their work and the result is the success of Chandrayaan-3. The same thing matters for investment as well. Instead of worrying about the ups and downs of the market, profit and loss, you have to face them, and then success is yours.

ISRO scientists assessed the possible damage during both Chandrayaan-2 and Chandrayaan-3 missions. This helped them to keep their costs better. After the failure of Chandrayaan-2, when Chandrayaan-3 was launched, the orbiter was not left separately, but the orbiter of Chandrayaan-2 was used. In this way the loss was compensated and the cost was also reduced. The same thing should be kept in mind while investing, especially during investment in the stock market, you should learn the skill of risk management.

When you assess the possible loss, then it becomes easy for you to choose its alternative. For example, while launching Chandrayaan-3, ISRO scientists took care that even if both the engines of the space rocket fail, Vikram Lander can touch the lunar surface safely.

The advantage of investing is only when you get the benefit of compounding and you can get better returns. For example, Chandrayaan-3 did not fly directly towards the Moon like America or Russia, but took advantage of the Earth's gravitational force. The Chandrayaan-3 mission went ahead while circling the Earth's orbit and then joined the Moon's orbit. Due to this, Chandrayaan-3 could get more speed in less fuel consumption and it could land safely on the moon.

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