Money Matters

Found this draft, while clearing out my desk earlier this morning – thought of posting it, because this is one of the few topics I am seriously passionate about.

"Frankly speaking, I don’t understand money and it does not bother me – it’s a boring thing to discuss and to think about as well - I have more important things to worry about you see" – this is what my colleague had to say when some thing related to an LIC policy came up. It was a lazy Friday afternoon at work. The work for the day was done. And I heard those lines. Wow – ignorant and proud of it as well. Sadly, she is not the only one who takes pride in the fact that she does not understand how money works – what happens to sensex – how the hike in reverse repo rates affects her in the long run.

Money – you come across it everyday – when you pay for our daily ride to office – when you buy your lunch – when you buy that latest CD from the music store – you need it at least once during each day. You are earning big – you are earning well – you have enough bank balance – you spend – you spend big. You buy an iPOd – you buy a digicam – you buy the latest luxury phone model in the market – you go shopping in the malls every weekend. Money – responsible for giving you all those "good things" in life - yet you fail to understand it – you find the business news boring – you don’t understand the hype and hoopla surrounding the budget every February. You are more than glad that you just need to declare your savings and invest a lakh somewhere so that you get the annual tax benefit. That's where it all ends.

Has the word investment ever struck a bell in your head? "No – my husband/dad manages that for me. I don’t like looking into those matters you know." Awrite, I hear you lady and I keep mum. I don’t think anything I say or tell will make any difference to her thinking. But I fail to understand what mindset will her child be inheriting money-wise? Not my bother you say – and I agree with you. She’s pretty fine with her thoughts and she’s sure she is right. One simple question though – your money – you earned it – why is some one else investing it for you? Okie – he is your husband or your father – but you at least need to be aware about where your money is going. I know I sound pessimistic when I say this, but no one can be trusted in today’s world. You shout at the top of your voice that you are an independent woman, then why not be independent in the real sense lady?

I read a book once when in college - Rich dad, poor dad. The book talks about how understanding money and how it works can put you a step ahead of the pack. But the one thing mentioned in that book that struck note with me and will remain with me forever, was to always make sure that even if one earns a paltry sum, make sure your money is working harder than you – not wasting itself sitting in the bank. I think too much about all these money matters maybe because am the daughter of a banker – but trust me I have seen both sides of the coin. I have a ma, who is very particular about money matters and I have a pa, who prefers to stay away from money matters. I agree with the former, while disagreeing with the latter, regarding this issue. You might say that it all boils down to one’s personal perspective and choice - but only one question to you – how can you possibly afford blatant ignorance about the one thing that you interact with, on a daily basis, day after day?