The whole world seems to be in a frenzy.. markets are dipping, investors are all ill due to the way the stock market is fluctuating. There is no job security, a lot of uncertainty in life - to the degree of how do we pay our bills for the next month. - RECESSION is the forbidden word like the Apple that ruined utopia.
Somewhere i feel this was a known fact. We saw it coming but chose to ignore it. When the going is all hunky dory we refused to acknowledge the fact that there is a balance that will force us to see a trough that follows this crest. We had got so used to Up-swing that we just forgot that there is a virtue called PRUDENCE. Somewhere in the convenience of a job that pays handsomely we forgot that there will be a rainy day.
A person who is in our situation 20 years back would have liked to save and make use of the money better. Most of our generation however, pledged our current and future earnings in EMI, got better homes, cars, gadgets but forgot about getting a better security fund. Why do we need one - when we have jobs like these was our rationale.. we only didn't think what if we don't have this job. I don't mean to hint that there is any impending danger to my current employment, however the market situation is so bad and when i see some of my friends affected it pains me.
I am not a lifestyle addict atleast not completely. I have had my own reservations about spending beyond capacity. However I still see a slight strain when it comes to spending like earlier. I see the need to exercise caution and spend carefully. I see value in the virtue of caution when it comes to Vitamin M.
I also feel this is a good time to foster relationships and spend more quality time with family. If we notice, the best things in life are actually free - spending quality time with my kid or spouse, meditating or exercising for relaxation, watching a movie at home together and many more such things.
All said and done - i would like to wake up at least now and be cautious, spend judiciously and save for the future. Have a discussion with my husband and draw up a financial plan, ensure that we spend cautiously. And like someone told me..
If you were to earn 1 Lakh every month for 20 years and save nothing OR if you were to earn 10 thousand every month and save 3 thousand - which is better?
Have an optimistic approach to live and a pessimistic approach to spending. Happy Planning ahead.
4 comments:
hmmmm...good thgt! planning well that sounds good now....long ago one doctor told me 'today's youth is chasing money like crazy -not bothered abt health and family leisure time and the same people wud be spending much of their earnings on manging their health later.... y dont u people realise that money is imp. but aren't u setting up too high standards for urself...wud u be able to support the same life-standards 20 yrs later too'. Guess he was talking more abt health and stamina. but today with Reccession's chill spell it wudnot be wrong to relate his thgts to the current situation.
May be people are getting more realistic now.... but its sad its at the cost of some loosing their jobs....for double income people still things wouldnot be as bad! but just think of one's where the only earning member may be at crossroads!!!!!
Pray God gives strength and the human brain gets creative brain power to resolve the situation for better without hurting many:-)
Make sure you include me in those "financial plan"s... something like a recurring check every month should be good to start with...
hey dont cut down on my gifts because of recessions :) just kidding :) but iseriously think you are capable of writing a book :D
I totally agree with you akka!!!
Truly said and too inspiring ...... take home message is very clear
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