This is very new for me to spend 37k on a phone, it is not financially bad decision for me at this point of my life. But people talk about roots, I grew up in a lower middle class family with a frugal mindset. I am confused. How do you folks who came from a similar background and making a okish to decent amount of money now spend on things you always wanted without feeling guilty?
Try to have a lot of self talk to wash away the guilt and maybe attach the purchase with something u would do so it’s like a pre-reward
I come from a similar background. My finances every month starts with my monthly savings. I transfer that amount to another bank account (I call it savings account) and then invest from there. What is left in the first account, that is my salary account (I call in expense account), I do whatever the hell I want without any guilt.
The fact that I met my monthly savings target puts any guilt to ease. But yeah I ensure not to touch money on my savings account, unless it is a real emergency and all other avenues are exhausted.
But how do you come up with a target ? Eg: if you are making 2l a month , you can chose to save 1.5l a month or 1l a month, where and how do you draw the line.?
I was also a little confused about this and kept going back and forth on the “target”. Then a friend referred me to Wealthup and an expert from there has been guiding me for more than 6 months now. What I like the most is that he pushes me just a little outside my comfort zone so that I feel it’s doable, but not so much outside my comfort zone that I try it for a month or so and then give up…again something that has happened with me earlier.
By the way, there are more than one Wealthup. I am using www.Wealthup.me
log 40K ka phone lene se phele bhi sochte hain kya 💀? iPhone 15 ka samaj mi bhi aaye.
If I am not wrong you are that troll account which spends 5L a month.
I come from similar background. Upto my jobless Engineering days, I used to get Rs 4k/month from my parents, and I used to maintain a notebook entry of where I am spending what amount. Every spending down to Rs 10-20 amount used to be written by me in my notebook religiously (as far as possible, I may have missed a few months). I used to have basic Nokia phone during Engineering days. And then I got a 2.5 lpa job with soo much of struggle. By my 5th or 6th month’s salary I bought iPhone4s costing Rs 24k, which equalled almost my full month salary. Frankly, I didn’t feel guilty. I am still conservative about spending, but I spend a lot on things I like- Tech devices, and visiting new places. I do have saving attitude due to my frugal background and I have my parents to thank for that, who have always instilled an attitude of saving money. But from my parents only, I also learnt that it is bad to love money too much (aka miser), it is must to save enough, but it is not okay to hold too hard to the money. One should spend enough too.
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.
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