How much you earn is a function of your educational qualifications, attitude, location of stay, etc. How much you spend however, is a function of your financial past – sometimes you behave like a poor person and sometimes like a rich person!
Let me tell you of Sindhu – one of the girls I know. She has had a deprived childhood and this I know due to my interaction with her. In fact her life, education, etc. have been one big long mess and she could not even graduate due to her father’s untimely death. She has gone hungry due to non availability of food at home – and her younger brother DIED due to lack of medical attention. Either sheer neglect or not having money to go to a decent hospital is not clear.
However when you see her spending now, you think she has lost it. She is no longer ‘poor’ – she has married an engineer who is doing well in a bank and she herself is working in a big BFSI company. Both earn well – and spend it all! They like many of their friends live pay check to pay check and obviously have NO SAVINGS. They do drive around in a car and travel about 100km a day (luckily the work in the same location) and have most of the fancy gadgets and of course phone upgrades are annual – or at 15 months gap! They have a small car and of course looking for an upgrade.
I find a pattern among spenders. Those who have had a deprived childhood spend far more lavishly – as if making up for their past! They are out to prove to the world that ‘they have earned it’ . The words ‘ I DESERVE IT’ seems to be a killer of many a budget and many a diet plan!
The people who are from rich and successful families do not have to do any ‘need to show off’ kind of asset buying. They can live a simpler life, have lesser ‘show off’ assets, take vacations that they enjoy – vs. vacations to prove that they can afford, buy things that they need vs things that they deserve…
However there is enough research to prove that the process is reversible….and it can be learnt easily.
Remember: this is as much applicable to your eating habits as to your spending habits – and change comes from the mind – not from the circumstances!
Post Footer automatically generated by Add Post Footer Plugin for wordpress.