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  • Category: Miscellaneous

    Do you wish to take full salary to home or settle dues on the spot ?

    This question may be tricky for many to answer because we feel that earning salary is the personal right and spending also our prejudice and wish. Though the expenses and tasks are lined up to spend the money within the salary budget, sometimes we have to postpone some payments to seek adjustment and provisions for other sudden expenses. But I like to keep the salary at least for one day in the home and then start spending. What is your take on the subject. Do you settle the dues immediately or retain the salary for slow disbursement to others?
  • #719936
    These almost all the companies are paying salaries through banks only and the money is getting deposited into the employee's bank account. As such, there is no much scope for any person to take a full salary home. But the full salary will be deposited in the bank accounts. Some people make a plan one day before they receive their salary. He will try to make the payments as per the priorities. Some people wait for some time before they make the payments.
    I make all the payments on 1st of every month irrespective of my salary getting credited into the account. Majority of my purchases are online and I have to pay first and I will get the material after payment only. So there is no necessity for me to settle all on the payments on the salary day itself. But house loan and vehicle loan will be paid on 1st of every month without fail.

    drrao
    always confident

  • #719938
    Earlier, when I received my monthly salary in hand (in an envelope), I carried it home and handed it over to my good lady who would place it in the pooja room. It would remain intact for a day, and the next day it would be distributed to settle the pending bills. However, I used to buy a sweet packet from my purse money to accompany the salary amount. These days, the salary goes directly into our bank accounts on the last working day of the month. Yet the money will be withdrawn only from the second day of the month.
    No life without Sun

  • #719939
    In this situation, first, a person should see how to manage his home. Then he should pay dues. A person who was a wealthy businessman but after some time his business began to decline, so he had to have debt from people and gradually, the burden of debt kept on increasing and unfortunately, all his business got collapsed. And when people who gave him debt came to know about it they began to come for asking their money back. He had a plot of land, so he sold it to pay all debt. He got around 20 lac rupees for the plot. When he returned home with money. He made a list of payees and roughly amount more or less was 20 lac. Now, he was worried, if he paid all dues then what he would do and how he would run his family. His wife suggested to him that he should not pay the debt to them, rather, he should invest this money in business and their debt should be paid by turn. Her suggestion worked. When they saw that he had started his business they were assured of paying their debt back soon.

  • #719959
    This is an interesting post. Though people are getting salaries now directly to the bank but still the question whether we pay all the dues quickly or slowly is a thing to ponder in details. I personally feel that it is better to clear all the dues quickly and the plan with the remaining money in hand as that will be a good safety not to overspend by mistake. It is always a good practice to remain loan free or debt free as that gives a good peace of mind. If the remaining money is not sufficient then I will curtail some of my requirements and mange in the minimum amount as possible.
    Knowledge is power.

  • #719962
    I get my salary through the bank and withdraw money from the bank when I need cash. In the past people used to get salary in cash and uses to keep it in their Mandir for a day near Goddess Laxmi. And then from there they used to spend it as per the budget and used to deposit the balance money in their bank account.
    Sanjeev

    " The two most important days in your life are the day when you are born and the day you find out why? "
    – Mark Twain

  • #719963
    I prefer settling the bills immediately after receiving the payments. I make the list of bills and amount on the last day of the month itself. It helps us to set the budget for the full month as per the remaining money after clearing all dues. Nowadays, all the payments can be done online only and we do not need to withdraw the money from the bank. In fact, my maid and milkman also accept payments online only. So, things have become easier and all can be done in one sitting only.
    Padmini

    Living & Learning- simultaneous processes!

  • #719969
    Yes, nowadays salary directly transferred into the accounts, so there is no opportunity to keep money at home, but the right way should be that as soon as your salary comes in your account, you should first pay all the due bills and installments, etc. after that the necessary expenses of the family should be accounted and finally in the last, we should spend on our entertainment or other enjoyments.
    Swati Sharma

    Keep your Face to the SunShine

  • #720033
    Invariably we are postponing the payments as the cash is not seen on hand and we forget.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #720075
    Normally I receive salary through bank credit. So, I draw money from my account and when my parents alive, I handed over total salary to my mother and to my father after mother's demise. But after both of them left this world, my wife told to have entire control over money by me only as we bought almost all items through credit card. For liquid cash I draw some money and handed over to her. Immediately on the second day I received salary, I settle the credit card bill though there is time to settle.


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