Lof of articles on savings and investment ( sample ) have started popping up in yahoo finance, msn finance,etc. These articles are more in the US context .
Consumerism has just started in India and we still maintain a great savings culture. But a part of working class esp . young urbans who started of with great salary in the last couple of years , need to realise the value of living within the means. Value for money is not something that we should look for in a tough time. But it should be practiced all the time so that it becomes a shared nature. Buying any liabilities in the name of assets paying huge EMIs should also be avoided.
At least a part of the money earned should be made to work for future by investing appropriately.On the contrary consuming tomorrow's money for today need to be avoided.
The age old thoughts of being frugal, saving and investing would always help tide any economic or financial crisis.
1 comment:
Hey,
This blog post is thoughtful. I liked it. Here many people always compare our self with western culture and spend the money without any savings. Everyone should realize that savings are the back bone any countries economy. Another point you mentioned as paying high EMI, i would agree 100% that people here buying houses for 50lacs and without knowing actually they are paying the double the money with flat interest rates. I am also writing one finance blog for quite some time. If you have time please look into the blog:
Tax Planning for 2009
Thanks,
Krishna
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