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Posted on: Mar 23, '07

How Much is Too Much?

Its been 7 years since I first got my first job, and I still remember the elation I felt when I received my first cheque. It was all of 5000 Rs, but it made me feel like I was the Queen of the World. How wonderfully I managed to survive in Big, Bad Bombay way back in the year 2000 with those 5000 bucks....an amount which just kind of slips by my fingers today, even before I can say the word go!

Why is it that when I am earning waaaaay more than those Rs 5000, I still find it is not enough? And its not just me, its also people around me; all of us are doing well and all of us are taking home reasonable good amounts of moolah, but come month end and it seems like it was way too less and got over way too soon.

What the hell is the mystery surrounding the ever depleting bank balances? Are we becoming victims of the increasing consumerism, without even being aware of it? Are we falling prey to the blingy branded stuff, and unwittingly falling into seemingly unsolvable credit cards mess? Is our pursuit of 'Living the Good Life', taking away the simple pleasures of living itself?

I know my mandatory monthly trips to Nail Bar to get 'myself pampered and feel like a lady' are partly to blame. I also know that my refusal to step into a local train and travelling distances by taxis and autos are partly to blame. I also know that my increasing disdain about travelling by train while travelling out of Bombay is partly to blame, as the low cost airlines (which are not so low cost after all) seem to be a godsend.

Well yeah...they are a godsend alright...not so much for me, as for my credit card company, who find newer ways to torment me every month.

Do i need to see a shrink to cure me of my eccentricities? Maybe...but that's again gonna cost a lot of money! There you go...its an unending cycle. I think Financial Savings and Me are always going to be at two opposite ends of the bloody spectrum!

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amitjani said:
I think one should keep 1/3rd of its earning compulsorily for retirement and or long term investment and only 2/3 of its income should consider as earned. Again out of that manage house hold within 60% from it and keep 20% in bank for emergency and balance 20% on person expenses. it will give some good option to ur question.

April 14, '07

AjdGladiator said:
Did you forget the Income tax, which digs into your pocket.

The pain starts when we see the infrastructure screwed up!

March 29, '07

King-Bulls-Ring said:
Someone asked in a forum "Do we have all we want/need?"
I asked him back "Do we want/need all we have..?"
Thinking in these lines could put us on right track towards value of money...

March 26, '07

BOOM2650 said:
I am glad to receive a message from you.I hope to keep in touch with you

March 24, '07

GentleLavender said:
Hi,

Here are tips for all who want to save:

1. Keep a daily diary of all your expenses even the minute ones and track it on a monthly basis on how much on an average you spend of Food, Travel, Shopping,Other Expenses like facials, movies,car or vehicle maintenance and so on. That way, you can identify where you need to cut down and save.

2. Start a PPF account (Sounds oldfashioned but trust me it worked for me) and make it a point to save and deposit there. At home get yourself a cute piggybank and put money in it daily, tell yourself that less than fifty is not acceptable and then see what you have on a bi-annual or yearly basis. It wont be as small as you imagine.

3. Buy all your provisions from the place where you get maximum discounts. When you buy a pack of papertissues and you get two packs free, you've got a good deal. Recently i bought 5kgs of basmati rice and got 2 really good pans free. Its your right to get the best deal and save your hard earned money, right?

March 23, '07

GentleLavender said:
Hi,

I totally agree with on certain aspects of what you are saying because i remember i felt on top of the world when i got my first salary cheque too.

But now when it has more than trebled, I find myself wondering why i dont have savings though i must admit that i try hard to save. I go to the beauty parlor once in a month and that too not to the five star types and even then it costs about 800 bucks but i feel good so i wont crib about it. I buy clothes when I feel i need to and wear them till they wear out. I love travelling by train coz i think its more relaxing and i hate to hobnob with snobs which is often the case in planes no offence meant. People seem to compete to look down on each other in planes that it feels like a prestige ride all the way to your destination. In trains people are friendlier, the whole edge of money doesnt completely take over and to some extent its real fun to meet people, actual strangers and share a slice of your life with them for a few hours.

March 23, '07

sunny2del said:
Its all about Self Control. The more u have it the better ur financial position shall be. But take care as there's a thin line between being a good economists and a miser.

March 23, '07

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