Updated: Aug 25, 2020


Happiness? In the simplest terms, considering the current scenario, we have arrived to the following conclusion that mere absence of stress and anxiety can lead to a situation of peace and happiness. Isn’t that what most of us are working towards, irrespective of our age and our short or medium-term goals?

The ultimate aim of any of our actions is to be happy, right? The obstacles here are stress and anxiety, and in 40% of the cases it is somewhere linked with money.

Let’s resolve it today.

To begin with, start saving. Take a box, or a piggy bank or open a bank account, or anything that is convenient to you, and start putting aside some money. Initially, it would not be about the amount of money you save but about developing a habit of saving. We as humans are lead by our habits.

Accumulated money always gives us a sense of power and security. It subconsciously provides us the freedom to make choices which give us material, psychological and emotional comfort.

Second, quoting Warren Buffet, “If you buy things you don’t need, you will soon sell things you need”. Even if this doesn’t apply to one in literal sense, please understand, each one has a specific amount of money, if you spend on something that is not actually needed today, in all probability you might have to compromise on things which you may need tomorrow. Remember, time passes quickly, and tomorrow will arrive sooner than you can plan for it. Third, taking the above point forward in a practical situation, here’s an idea. Whenever you have an urge to buy something and which is not actually needed, costing say Rs. 500, then do not buy it, instead, set aside Rs. 300 towards your savings, and Rs. 200 towards your shopping / entertainment, saved separately.

Fourth, keep your expenses low. Try practising frugality. It actually pays. Whenever you shop something and are about to make the final purchase, ask yourself, can you fulfil the same purpose and derive the same level of utility out of the article that costs a little less than the choice you have almost made. Be it apparel, furniture or anything where your money gets spent. In sometime the excitement vanishes away and what stays behind is only the utility value of the article. Again, the difference of money you save, split it in the ratio of 60/40. Put 60% towards your savings, 40% towards your spending account.

Fifth, it is essential to set aside some money towards your shopping / entertainment out of the money you save separately by practising the above mentioned ideas. Reason being, if one deprives oneself, there comes a point of frustration. Hence it is highly recommended to spend a part of your savings on a few things you wish. Provided, the money you save by practising the above mentioned ideas is to be kept separately. It is important to keep this money separate, considering human nature i.e. saving at one place, and by not setting it aside, it eventually gets spent at some other place, getting one back to square one.