Debonkar

From 50k/month to 2L/month, everyone tells you how much you should be earning. But nobody tells you how you should spend that money. So I will. Most Indian middle-class kids are conditioned to save, save, and save. Irrespective of your income, you are always looked down upon if you spend money. We take pride in poverty porn. If you've grown up in a family where your parents were extremely conservative in terms of spending money despite having a decent income, it's time to change that. Those of you who have just started earning, this is for you. We're all going to die someday, and all our savings are going to remain here, unused. So let's put it to good use while we still can. 1. Always prioritize safety: We live in a country where a random billboard can fall on you from anywhere, or a Thar can run you over from the opposite side. So splurge that extra bit on a cab instead of a bike taxi. No amount of saving here is worth it if you're handicapped for life or are not even alive to use it. Buy a car instead of a bike/scooty. New/second-hand, big/small, petrol/diesel/ev, doesn't matter. A roof above your head is better than none at all. If you can't afford one right away, wait. But don't get a two-wheeler. Invest in good health insurance. Aim for ₹20L+ coverage. ₹1Cr+ if you can afford it. The premiums are way cheaper than you think. Less than the cost of a dinner for 2 in a fine-dining restaurant every month. Even if your employer provides you with it, get one separately. 2. Change what you consume: Stop buying loose groceries like dal, rice, sugar, etc. from random stores, where you don't know the origin of the product. Don't buy an inferior product that you put INSIDE your body just because it's ₹20-30 cheaper. Don't reuse plastic bottles. Switch to steel/glass. 3. Upgrade your wardrobe: I ignored this for the longest time, but the way you present yourself makes a massive difference. You are automatically taken more seriously if you dress better. Whether it's to work, meet a friend, a date, or a casual outing. Dress well. Most people don't even visit stores of well-known brands and assume that their clothing is expensive. Just pay a visit once, and they may have a lot of things that fit in your budget. Moreover, you don't even have to spend a lot of money to dress better. One good pair outweighs five cheap ones. There are several new-age brands now that sell high-quality clothing at affordable prices. Visit a good salon that can not only cut your hair but also style it. Get a nice perfume that's not the cheapest one you find on a shelf in D-Mart. I know a lot of people who say they don't care about how they look or what they wear. Trust me, I was one of them too. But the moment you wear better clothes, you start feeling more confident. It's 100% worth it. 4. Buy that thing you always wanted to: Don't feel guilty for buying that watch you always wanted, or for getting a Pro iPhone instead of the base one. Of course, if you can afford to. It's not a sin to treat yourself once in a while. Go to that fancy restaurant, book an international holiday, stay at that luxury hotel you always thought wasn't worth it because the rest of your family always stays in 3-star hotels. These experiences will change your life. Don't let your parents or friends or some random uncle tell you something isn't worth it. Worth cannot always be measured in numbers or ROI. 5. Saving is still important: Ensuring you have money for future goals is as crucial as it is to enjoy the present. Do your research and invest your money in the right places. Set aside some money every month for investments and forget about it for 15-20 years. If you don't want to break your head or spend time deciding what funds to invest in and how much you should put in every month, hire an investment advisor. It makes your life a lot easier without having to worry about where your money is going and whether or not you're investing in the right places. It's YOUR money. You don't have to live how your older generations lived. Don't worry about how your parents will judge you if you spend ₹1L on a phone or book a night at Taj for ₹25k. Don't feel guilty about spending your own money. If you're saving enough every month, you have every right to spend the remaining money however you want.