Many people have asked for a follow up on the 15L CTC story….

1. A planner should plan, not pass value judgement on how the client should behave.

2. To me a guy attending to all temple functions and blowing money traveling to all the temples in India is just as stupid as the guy blowing it off gambling.

3. If you have a family, you have a responsibility – period.

4. He has no medical or life insurance – to me that sounded far more stupid.

5. Overall he was himself shocked when he saw his expenses 🙂 so much for writing down…this guy had started to write only 2-3 months back.

6. He has a high end bike and a low end car – and he cannot control his usage.

7. His household expenses – there are people to whom this sounded too much – and I know people who spend 3-4 times this amount while staying in an own flat

more to follow…

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  1. Subra,

    Universal truth remains that managing money is much much more difficult than earning it…paradox is that people are hardly aware of it.

    Any intelligent person can earn a hefty pay cheque but it requires wisdom to make it work for you…the path of money management remains quite slippery!

  2. Dear Sir, No offense meant. Btw, you are an atheist? I am asking because you have mentioned that a person who attending temple functions and spending money on travelling to temples is similar to a guy blowing his money in gambling. How can you compare a sacred thing such as attending temple functions to some societal evils like gambling? Again, its just a doubt. Don’t take it personal please.
    With Regards,
    Srivatsan V

  3. Srivatsan a financial planner is not here to say what the client should do with his money -which he is spending. If he wants to blow it gambling or spend it anywhere else, it is the clients call. To me a guy who goes to all Khumbabishekams in the world and thinks God will take care of his family is just as idiotic as a gambler. Frankly I cannot distinguish between the two.

    Being a believer in God does not mean a person has to visit temples. Anyway religion is better kept out of

  4. Subra sir

    I have a simple planner for all with a bit of conviction. Yes for all as it is proved that you can “retire rich by investing Rs 40/-” :), and ensured that anybody with Rs 33/- a day is no more poor. (I dont believe none reading this wonderful blog is earning less than Rs 250/- daily… :)).

    spend as you move down / dont change the sequence and the allocation especially the first 2 ..

    1. For the provider – 10% – Charity, Orphanages, Give aways, Faith.
    2. For Tomorrow – 30% – Invest in Knowledge, Insurance, FD, Equity, Land..
    3. For Yesterday – 30% – Support parents, EMI’s, Rent
    4. For Today – 30% – Food, Clothing, Medical, Child, Entertainment



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