MagicalNugget

Guilt before buying

I’m a 23M, I’ve a monthly inhand of 1.10L I put 70K in SIP and 15K in FD. The rest 25K goes to other things food, rent, gym etc. I’ve built a corpus of 5L.

I want to buy jordans costing around 9k but I start feeling guilty as soon as I put those in cart and ends up talking myself out of it. Always thinking that this money can go to my corpus.

How do you guys purchase stuff like iPhone, iPad, Jordans etc without feeling guilty or without thinking about your savings corpus?

6mo ago

Talking product sense with Ridhi

9 min AI interview5 questions

PerkyNoodle

Gojek6mo

Keep it in the cart. Open a RD for 9 months Put 1k every month into that deposit After 9 months use it to buy what you want.

Chances are after 9 months the price would've been dropped. Or you would've changed your mind by then. If so, buy something else.
Never ever go for EMI. It's an addition you can't financially recover from.

Remember the product is not gonna go anywhere. So, take time to make the decision to buy pricy stuff.

SparklyBiscuit

Tekion6mo

Wait till it gets out of stock

ZoomyMochi

Stealth6mo

I'm 27 and unemployed. When I was 23 I was getting 18k. How the hell people are getting so much high salaries.

ZoomyNarwhal

Deloitte6mo

They are more skilled apparently.

QuirkyWaffle

Stealth6mo

They studied really hard in school and college to end up in a good place

PrancingPotato

Stealth6mo

Guilt is good as this suggests that you are mindful about spending money. Spend 10 or 20% of your salary on wants. Not necessarily every month but as a whole. Further, You don’t take money with you on pyre or in grave. Live a little and for god sake you are just 23.

ZippyMochi

Stealth6mo

This^ you can also save and Set apart a guilt free expense fund for stuff like this, vacations, big purchases etc.

It's good that you are mindful. I honestly don't get the appeal with shoes. It's a depreciating asset which requires maintenance, but to each their own. I'd rather go on short weekend trips with that money instead, or just invest it.

PerkyCupcake

Stealth6mo

I have a simple way for handling such situation.

No EMIs or credit cards, they are curse of poverty.
Buy everything in cash, less online payments are healthy for wealth.
Only buy something when you can afford to buy it 5 times in cold hard cash.

Rule #3 does not apply to medicines and food but obviously... had to mention it.

This way, I never feel any guilt. I am big spender on tech stuff, and that is way expensive. If I didn't stick with the above 3 rules, I would've been crying in a corner.

JumpyBagel

M&g6mo

Without a card, buying at full price. You're leaving money on the table. Some people know how to manage cards, the richest have the most expensive paid CCs.

GoofyWalrus

Stealth6mo

I'm 35 and still feel that guilt you are talking about. I never owned an iphone in my life and right now I'm at stage I can buy one. My current phone is 7 yrs old and I want to buy iPhone 16. I know buying iphone is not actually worth the money but I want to experience it (if you know what I mean). I think this guilt is because of our middle class upbringing and I doubt it will go away anytime soon. So get used to it.

JazzyBoba

Adobe6mo

7 yrs old phone? Wow!

GoofyWalrus

Stealth6mo

Yup, OnePlus 5t

GoofyWalrus

Atlan6mo

I'm 25 and make 3L in hand and let me tell you - it doesn't get better 🥲

QuirkyQuokka

twid6mo

Bro any APM opening in your company🥲 Working in series c fintech right now

ZippyPancake

Stealth6mo

Bro which role and tech stack ?

SwirlyTaco

Stealth6mo

Go for it.

If you don’t enjoy part of what you earn, what are you earning for?

DizzyLlama

Atlys6mo

Exactly dude

DancingMuffin

EY6mo

Don't buy it, it's not worth it. Real wealth is always hidden. Save today and that will help you retire early.
Financial Independence is you choosing how to spend your time , where to spend it and with whom to spend. Nothing can replace this

MagicalNugget

Razorpay6mo

Honestly with this argument I talk myself out of all such purchases.

DancingMuffin

EY6mo

With the amount of money you are making currently, financial independence is not far my friend. Keep going ♥️

SparklyPenguin

TCS6mo

Bruh. Whats your tech skills?

MagicalWaffle

CAW Studios6mo

Bro where do you work and please tell me about your experience and tech stack 🙂 🙏

MagicalNugget

Razorpay6mo

Ed Tech Startup. Used to work in Node.js recently shifted to Go

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