For any middle class family in India, money means the simple cycle of earning, paying bills, make a living and spending. But this cycle is given many twist and turns. People are earning, but not always by the right means. People are spending too, but not always on the right things. And in between of it all we blame “money” to be the culprit of every sin. Well, let’s ask ourselves then. Do we use money or does money drive us?
Every household also runs on a budget. Sometimes we step over it, sometimes we are miles away from it. A budget however is the only parameter that gives us a real picture of our finance.
Is finance the amount of money saved in bank? The answer is partly yes and partly no. The reason why it is no, is because while the amount saved makes us feel secured about the future, it also makes us feel insecure because it’s there and still not being used. This is almost like a catch 22 situation. This indecisiveness often leads to worries and stress too. Interestingly just like there is a concept of IQ, where a human’s awareness about various aspects is measured. There is an EQ (Emotional Quotient), where a human’s emotional quotient is measured. How aware is he/she about his/her own emotions. On the same lines, FQ (Financial quotient) too should be a barometer. Financial quotient could be the awareness of how well does one manage his/her own finance. We may earn a lot, but not enough to buy simple pleasures. We have more but it’s always less when we need to spend on emergencies. We try to save, but don’t know where to spend or rather when to spend. No matter how many earning members exist or don’t exist in a family, but finance of the family need to be addressed as a whole.
There is no secret formula to earn enough or save enough. The only formula to being financially fit is to understand how to use money wisely.
About the author:
Padmaja Acharya – From the ancient language of Sanskrit comes my name ‘Padmaja’, derived from Padma (meaning lotus) and Ja (meaning to take birth from). A woman as created by the divine. An Engineer and MBA by virtue of education. A dance choreographer, teacher by virtue of passion. A soft skill trainer and educator by profession. An author and speaker as guided by my calling. This is what encompasses me.
(The author is a guest blogger at Her Second Innings. The opinions expressed are those of the author.)
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