Wisdom lies in spending our money wisely and saving some money too. Cultivating this habit would facilitate a prosperous, peaceful and truly lovable life.
Periyar’s principle – “Self-Respect Sweetens life” actually implies that small savings would help us live with self-respect without depending on anyone for our livelihood. If our expenses do not exceed our income, we are sure to enjoy a normal comfortable life. When we are able to save atleast a small portion after meeting all the expenses, we do derive inexplicable pleasure, don’t we?
How can one lead a life of self respect if one keeps borrowing for a daily living? The burden of loans would become unbearable. The interest accrued on loans would make one lose interest in life. Repayable loans with interest mean restless life and sleepless nights.
A lack of awareness in the matter of restricting our expenditure in proportion to our income is the root cause of our economic crisis. We don’t plan to fail. We fail to plan. We would never have to stoop before anyone if we lead a simple, frugal life without ostentation. People who learn to save, infact learn to live. Savings keep us off humiliation. However small our earnings might be, our expenses must never be disproportionate to our income.
Even in certain families where the husband and wife are bread winners, financial crisis crops up because of their failure in curtailing expenses in excess. Extravagant life-style is also a cause of poverty in middle-class families. When you get your salary, prepare a list of expenses to be met, in the order of their importance. Prepare a budget for the month to suit the compensation package that you received.
Your list should comprise inevitable family expenses, including expenses related to children’s education (though it is not actually an expenditure, but an investment for their future). Include in the list, essential medical expenses, a portion for unprecedented expenses, repayable installments due on loans, etc.
Allot a sum for medical insurance if you are a policy holder. Reserve some for unexpected contingencies. Prevent your better-half from imitating the people in the neighbourhood and crave for the sort of their apparel, jewelry or vehicles. Make them resist such a temptation. We must lead our life on our own terms without caring a hoot for the opinions or comments of others.
Avoid spending more even when you augment your income. Save the additional income. Earn honestly and spend justly and your home would become an abode of joy. Never allow your life to run like an unbridled horse. Draw Line of Control (LoC) and live wisely.
Do not forget: we drive nails on our own coffin – no one else does it especially when it comes to.
Translated by : M. R. Manohar