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  • Category: Miscellaneous

    How much we should spend ?

    Every one is not rich in this world that he can spend whatever he wants. There are people earning more but do not spend money carelessly while on the contrary there are many people who earn more and also spend more.
    There is another category of people who do not earn much but spend more by taking regular loans from their friend, relatives and even banks.
    So what is the balanced approach. How much one should spend and what portion of earning should be kept as an insurance for rainy days ?
    Let us discuss this issue and I request the valuable opinion of ISCians.
  • #589178
    There is a proverb in Urdu which says " Chader jitna utna pahar pahlao " that means when you sleep on the bed , the we must adjust and sleep our self inside the bed sheet and cannot bring out hands and legs out of it. Same is the case applied here. We cannot think of over spending when our earnings are restricted and limited. Just because others spends, we cannot change our life style and go on spending free. If that continues we stoop to the level of borrowing from others and turn as debtors shortly. So spending wisely for the need should be the criteria and extravagant must be stopped.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #589180
    In Tamil there is a saying as,'Viralukkuth thankuntha veekkam' which means the swelling should be according to the size of finger, that is if the finger of one is swell more than a limit this would be a danger. Accordingly one's spending should be within a limit,here the limit is according to the person and his necessity. An ordinary man may be in a position to spend more than a level when he met some situation but in that also he should hold some control. In the seasonal times such as Deepavali, Pongal many people purchase dresses for their family persons but in some family some people make the purchases more than their limit.
    The marriages also should be solemnized with purchase of needy items without considering the formality rather both the family heads could discuss about the items to be bought as per the formality. We could not cut away the formality as if others talk in general but the repeated items could have been avoided after having a good discussion with the other party heads. We,in our relative's marriage, as there was a formality of buying cot,almirah bedrolls,diamond earrings according to their side. We discussed with the bridegroom's parents, the items to be purchased before buying . They appreciated our approach and told to avoid buying the cot and almirah as they already possessed in their house. As for as the diamond earrings, let the couple decide and if they are not interested that also may be left. So the marriage went without any purchase of double items.
    In such a way the expenses could be controlled with mere talking with the other side, with the spouse when one makes the purchase etc., Putting a second thought before buying an article to the house is good one to curtail expenses. We cannot construe the term of extravagance here as one may be need to one and the same may be an extravagant to another.

  • #589427
    How much one should spend depends on two things - how much one earns and what is his attitude towards money.
    No doubt if a person is spending more than his income he will be in grief and sorrow in future. Remember money gone out of your wallet does not come back.
    There are people who are impulsive and do not think twice before purchasing an item only to find out later that it was not required in their household. So money is to be given out only when you need a thing and you can afford to have it.
    So how much one should spend is changing from person to person, their financial conditions and attitudes towards money.

    Thoughts exchanged is knowledge gained.

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