Hi All, First of all thank you all for the great support, you guys provide me. This is my 25th blog, I never expected, that I will hit the milestone. Because, I had left a big gap in writing in candlemonk, but again your support brought me back here.
The question that arise in my mind is why do Indian couples struggle even after earning salary in lakhs per month. Here are the few reasons that come to my mind, when I think about this topic.
Well this is true and observed almost in 6 out of 10 couples in India.
There are a number of reasons, both personal and common for this tragedy.
If you were to take my opinion, I can recall about 5 things that Indian couples need to stop spending their money on.
Mostly Indian coupe have set their standard too high than they actually can afford. The bride always wants her husband to be a rich, well established guy and she then sets her demands accordingly. This is completely wrong on her side. Right from the beginning of the marriage, you need to plan your Finance according to your status. Replacing things, even very small things in your house makes difference in your finance.
Unnecessary Interior designing, Planning for expensive b’day parties, cocktail parties, Buying subscriptions of unnecessary apps that you hardly use twice a month, spending too much on BRANDED CLOTHES, accessories etc.
Above habits are termites to your earning!
2. Expensive Holiday trips.
This is seen most commonly in entire India. Couples just want to travel to Either Europe or somewhere in USA every time for holidays. WHY? what's the use of spending your hard earned money on holiday destinations? You can replace your destinations with Indian cities as well. India too is beautiful! Why spend 50K per person for USA ticket, when you can plan a great trip to Kashmir in 2lac rupees!
3. Buying Depreciating assets.
Car, Branded phones, branded purses and shoes etc these all are depreciating assets, you need to actually ask yourself, Do we actually need it? Like if you are a nuclear family, you must take into consideration the thought of buying a car. Even if you plan to buy one, buy a cheap but quality built car.
In my case, we decided to go for Maruti Suzuki Ciaz than to waste money on Innova. We hardly use car twice a month and in such cases a vehicle with good mileage is a boon!
4. Not Investing / Bad investment
Couples who are not financially aware are always the ones who are fooled in the name of investment. Share market agents trap them easily, Real Estate agents trap them in the name of a lavish home for cheap rate and they are easily convinced to buy the apartment.
If you are not financially much aware, GOLD and LAND are both good investments for someone who expects good returns in a span of 5/10 years.
5. Comparison amongst the friends.
We often end up frustrated comparing our situation to someone else’s. WE need to analyse whether we can afford their lifestyle or not according to tour financial conditions.
Example - My friend who earns 20 Lakhs per year plans to buy 10 sarees, each worth 5,000. That means her 10 sarees costs 50000 INR. Now for someone like me who earns about 6 lac per year, I have to think whether i can buy the saris and still complete my rest payments or no? In such case i wont try to look rich by buying those sarees, rather I would opt for sarees worth 500 - 1000 each. Because that is the only thing I can afford.
So, I would like to end up by saying that Saving money is earning money.
