I am born and raised in middle
class family and understand value of each rupee. I value my hard work and my
earnings. I spend my money wisely and also try to save. Some of my friends use
to make fun of me ohh you are baniya so they are always so good with money. My
answers have always been if you don’t have your savings, then who is going to
help you in case of any financial difficulty. No relative or best of your
friends are going to help you with money. Everyone is so busy looking after
themselves that they will immediately cut off if you are in financial trouble.
I feel sad when looking at lot of
girls and boys of my generation or younger that they spend their money on
brands, shopping, films, and restaurant like anything. Their response is my
parents will take care of household expenses and I will just spend my earnings
leisurely on me. Parents have spent their hard earned money to raise you, to
educate you so that you can earn well for yourself and family. Now you are again
dependent upon your parents that will the sickest thing you have done to
yourself and your parents.
Also we live in a country where
we don’t have any social security system that will pay you in case you are not
earning. So you have to plan your savings right from the time when you have
started earning. Our parents have also done so that’s why they can still feed
you.
You have never saved so how to
save now. As it is said it is better late than never so start immediately.
First of all vow to yourself that
once you start earning you will never ever ask for a single rupee from your
parents.
You know how much you are
earning. Write down all your expenses on a paper.
After jotting and segregating you
will understand what the necessary and wasteful expenditures are.
If you are paying rent (like me)
than it is a necessary expense. If you are lucky that you don’t have to pay
that amount as rent take that amount and invest in recurring deposit or SIP
plan. Every month write a cheque for that much amount and think like you are
paying rent.
If your parents are not accepting
any money from you then you can contribute in groceries or toiletries. Your
parents will feel good about you taking some responsibility even they don’t say
yes to your contribution.
You want to spend on leisure and
have fun than keep a budget that this will be my limit.
An old saying is that you should
try to save one rupee first before you spend one rupee. As with time value of
rupee will decrease. After twenty years value of 5,000 won’t be same as today.
So you have to be prepared so that when you grow old you are not dependent on
anyone financially like your parents are not dependent upon you.
Aim to buy a house with your own
money and start saving for it. You will feel so cherished the days you will buy
house with your hard earn money.
I hope that this writeup was
helpful. Stay tuned to R&W for more such write-ups
Stick to R&W
Megha Gupta
Photo Credits - jagran
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