Hello friends, hope all of you are fine. Today we will discuss about a topic which is the favourite topic of old generation people but unfortunately these topics are against the new generation. In india, if u talk about these topics then today’s generation will say ” neither u brought anything into this world nor you will take anything from this world “. In hindi it is said that ” kya hi leke aye ho aur kya hi leke jaoge”. This type of mentality ruined the financial condition of people and here I am not talking about india only. I am talking about the whole world but as I am living in india so i can share with u guys about the current trending topics of india. Well, though  they are not wrong but they are not correct also. We have the right to spend money on our own terms.  I am not telling everyone to stop spending. We earn to spend money so obviously we can spend  money but….. it must have certain limits.  Recently I have seen some areas where people spend money the most and according to my opinion we must stop spending on those areas otherwise time will come when you will financially broke. I don’t know about other countries but i can tell you what is happening in india

1. Spending money on Iphone

On the heading u can see what I have written. Yeah u heard it right and this is what actually happens in india now a days especially among the youth. That is even more important than getting a job now a days.  Recently my friend shared a story with me. He has a roommate who is trying hard to find out a job. Even though he doesn’t have a job he has an iphone. He took his parents money to purchase that iphone.  When my friend asked him what is so important about this iphone? he says that ” well, I have to show off in front of the world. Otherwise there will be no value “. And this type of event happened multiple times. Even a peon has iphone.  I have seen people taking emi loans to purchase this phone. I don’t know why youths are so crazy behind the iphone. You can use an android phone. Why to show off infront the whole world and what is the reason behind this show off. Phone is a basic necessity like cloths and one should not spend that much on the basic necessities.  We should use phone to talk with someone or just to watch some youtube videos or other things as per your requirement. Other than that u should spend money to buy a simple mobile phone.

2. Education

Now after iphone the second field people where spend money the most is education.  Now here  I am including middle age people whose age is between 35-40. In my opinion, education is the place where u should spend the least. As a parent we should teach some basic things to our children like how to be discipline, how not to take stress on small small things, how to live with minimum resources etc. Instead telling our children that if u earn more you can live a lavish lifestyle, we should teach our children about how to stay out of  the world of this show off even though u will earn alot in future because our children will earn for themselves not for this whole world. We should teach our children about the value of money which even school can’t teach these things to your children. I am not against spending money on children’s education. I am just saying that if u really want to educate your children, then put their name in a government school  and that is the best thing to do in my opinion. Because in government school u have to pay less fees and second thing is that  it doesn’t matter how much money we have spent on our children’s education but our children  will never learn  a single thing from the  so called school or colleges. The best teacher of your children is his/her own experience.  Trust me, failure and experience will teach your children the most. Even teachers or professor can’t teach those things to our children.

3. Home loan

Sometimes, human take decision emotionally not practically. But unfortunately in financial world, there is no word called ’emotion’.

Most of the time out parents are the main culprit behind this(i am just kidding 🤭🤭🤭) . Sometimes they request their children to purchase a  own house for themselves although they are not wrong they are correct in it.  But they also have to understand that those days are gone when it was slightly easy to get a secured job but now thing has been changed. Now in this modern world,  people even can’t able to find out  a unsecured job and here I am not talking about Indian only, now  iam talking about the entire world. How in the world a person can think about taking a home loan when he/she doesn’t know when the manager fire a person by adding some sugar coated words. Now people will tell me that skill is everything and try to improve your skill. If u improve  your skill, u still have the fear of being fired from the company. (Corporate sector nahi patne wali apke skills  se).  what if recessions enter into the chat?(only a person having a corporate job can understand this feeling). Remember one thing that purchasing  a home is always a liability. It is a biggest burden of a person’s life.  Because in order to purchase your own house, u must have to pay the  loan first. After payment of loan, u can consider your own house as the most important asset of your life. If u have money, then pay that loan without any delay. Because who knows  at what time mood swings of corporate sector  will start?If u know about this mood swings, then please leave a comment. It seems easier  to take the responsibility of a foolish person as compared to paying the home loan.

4. Finding out happiness in Money

“Money is everything but not everything is money” I don’t know who says that but someone has said this thing and that person  is correct. We earn money to spend it on basic things like foods, paying electricity bills, paying rent etc. But now in this modern world, we earn money to show off in front of people. Just remember one thing that u are earning money for yourself not for them so why to showoff then?  I want to earn more and more and more(I do not know how much) money but not to show off, it will be for my safety.  One thing I learnt from my mother is that if a person can able to live a simple life even though if he/she has alot of money, then that person will great success in life. Money can bring happiness in each and every small things but   the moment u include money with permanent happiness, that’s where the problem starts for you.

    

Here, I have not  any problem with india.  But as I am living in india,  so I just want to tell people about the field where we spend money the most(especially  young people)and it is not the problem of india only, it is the problem of the entire world.  In each and every country,  young people spend money alot in some particular field. So I also want to get some knowledge about the spending habit of young people from other countries.  Please put some comments in the comments section so that I can able to explore about the spending habit of the foreign people also. It will be a great thing to explore about the spending culture of foreign countries ( especially in case of young generation).