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  • Category: Miscellaneous

    Our salaries have become the base of our living - Am I right?

    Salary is the most important thing for all of us. We just cannot stay without it, everyone will agree to it. The moment this giant thing named "Salary" gets into our accounts, we are delighted to see our bank accounts filled up as it was before. The pleasure it gives seeing the account the same day is unexplainable.

    Especially the people who are married and who are running a family are delighted to see it. Because most of them are paying an EMI for their vehicle or home loans etc.

    It seems the salaries are becoming a base for a person's living. As soon as it arrives, it gets finished in a day or two and people are left with a limited amount in hand so that they could utilize the complete month with that.
    The existing reality is the stress of loans as everybody today wants to have their own home, so they take up a loan and have to pay a good amount as installment or interests. Also, the usage of credit cards adds to living the life with more comfort and luxury. Now to pay those credit card bills back is one cause that leads to vacant bank accounts and hence no money in hand.

    It is like we are earning less money, but we are spending much more than that. That is why dependency on the next month's salary rises, and we eagerly wait for the coming salary announcement. Also, we try out other ways of getting money like recognition points or rewards also as money.
    So, on a short note, salary has already formed the base of our life rather than the happiness. What is your opinion on this?
  • #618077
    Yes invariably every one of us are much dependent on salary as it is the only source of income and thus the expenses are already planned out to be spent and the entire money goes away within no minutes and again we are left with less or some times no money. This situation is happening every month with the middle class and unless and until we explore the possibilities of earning some extra income through over time or another part time job, we cannot cope up with increased wants and expenses thereof. Some time we are heavily influenced by the purchasing power of relatives and friends not realising the fact that our resources are limited and we cannot stretch the budget. Still we borrow from from some one or take some advance from the office and try to purchase those which were not needed. Such is the situation in most of the homes.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #618125
    No salary, no food. This is the situation for middle-class people. The rich people need not worry about their salary. They will have the reserves in their bank accounts or in their houses and briefcases. But for an employee who is working for his livelihood, if the salary is not coming in time it is very difficult for him to manage the show. By 2nd or 3rd, we have to pay to our servant maid, milk vendor, paper bill and other pending bills. We have to clear all the dues and we have to get our ration for the next month. I have seen some families get their requirement of general items on credit and clear the dues in the month the first week. If he is not clearing the lost month's bill, he will not give for this month. So salary is very important for a middle-class man. But I am a little lucky, my servant maid or milk vendor will wait even 15 or 2o days for getting their dues. But by 5th of every month if we are not getting salaries we can't pay our EMIs in time. we will be in problem.
    drrao
    always confident

  • #618147
    Yes, of course. Salary as a reward for our work/ service is sure a base to our life. Income other than salary gives pleasure but idleness. This type of income maybe alright to retired or sick person. A normal person sits in the house whole day as he have enough money made him sick only.

  • #618152
    How we utilize our salary would answer the question whether our lives would be filled with happiness or constant worry or constant need for money. Most of us who are the salaried class since ages have understood the concept that our house and family revolves around the monthly salary.How to allocate, how much to allocate, how much to save, how to fund for emergencies, how to fund for the long delayed holiday or even a new car etc. If one has to earn by ethical means and hence devoid of alternate sources of incomes, he/she has to balance many things and keep a close watch on the outgoings. Earlier days, getting credit or a loan was very difficult,Now everyone is in a queue to give us loans, credit cards etc and make us feel better to spend better. Once we lose track on the spending, then the pressure keeps mounting on us to make arrangements for the EMIs and deadlines to be met.
    So, Salary is the base of our family functioning and it is up to us to make it bring happiness and not another load of worries by overspending.

  • #618166
    The change in the society is evident from what is stated in this thread. Salaried persons are increasing. But this is among the middle class. There are several who depend on daily wages or weekly wages. Labourers, which constitute a major group among workers are mostly weekly earners. Also note that they are not counted as salaried class. Hence it is not fully correct to state we are depending on salary.

    It is true we are all depending on currency. Earlier we had the barter system where products are exchanged. Rice given for coconut or vegetables, like that. So instead of things we have now currencies, which help buying anything and everything. So in effect our life is hundred percent connected with currencies, which might be coming daily, weekly, monthly or annually.

    T.M.Sankaran
    Gold Member ISC

  • #618199
    For those employed, mostly salary is the main source f income. So the living is depending on the salary.

    But for those who are not employed or are retired without pension benefits, the source of income may be different.
    There are many people who mare not employed, but engaged in business. They do not have salary, but still they earn income.
    So this thread suits only those whose only source of income is salary. Salary is a fixed amount every month(except in some cases with minor fluctuations). With a fixed income So in order not to have financial shocks, one should live within means in a limited framework. Accordingly one has to plan and budget his lifestyle also.

    To live happily is not solely depending on our salary. Sharing and caring can give happiness, even with low income. From my experience, I have observed that a salaried income family does not feel the pinch for the essentials ,but in the other miscellaneous matters of spending.
    Even very recently also I found from my old diaries where I had noted down my monthly budget, and the deficiencies or surplus, I have inferred that the prices of essentials have not gone up in the same ratio of salary increase. The amount spent on essentials like food, clothing etc are still only a small percentage of our income.Major par is going out for non-essentials and not-so-essentials. Anyone can do a n analysis and find.

    One should not compare others, but compare our on income and expenses and restrict to live within means. One should also save some amount definitely from that.
    How to stretch our salary for the full month until next salary needs a strong will and plan.

  • #618228
    "How to stretch our salary for the full month until next salary needs a strong will and plan." - the very valid point Mr. Venkiteswaran. If we are able to plan out our basic requirements, we can make our salary be utilized in the essential things.
    Do what inspires you !!

  • #618315
    Yes, of course, salary is the base. I agree that a huge part of the salary is given away for EMIs. Those days after receiving salary will be the days of luxury and towards the month end, people will be struggling to meet both the ends. Actually employed people will be looking forward to the salary date only. For those people who have multiple incomes, like from a side by business or rental income does not have to purely depend upon salary. But for others salary is definitely the base. Hence any delay in getting the salary will ruin the complete plan.
    Regards
    Chitra
    "Do not give up, things might not favour you always"


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