A conversation with a very close friend, made me realize this. I know a lot of you would be aware of this, and a fact of the matter is even I know this but do I actually understand this. One thing which I think Indians, especially the young professionals who are getting exorbitant sounding salaries, need to learn from the America and Americans is the concept of debt in the economy. One thing which we learned from our parents was ‘Utne Paon Pasariye Jitni Chadar hoye’ (One should not spread his legs beyond the bed spread.) which actually means that one should not spend more than his available means.
However now around me, I see people with multiple credit cards total credit limits whooping in excess of there entire months or may be six months salary. To add toppings on this cake almost every second day I get calls on my phone I hear (not so sweet, decline in quality of call center talent is evident) voices who are willing to give me personal loans for foreign holidays, for buying diamond necklace for my ex-girlfriend with whom I broke up with almost a year ago and even for a third honeymoon when I am waiting for the first one to happen. With all this comes a temptation, a temptation to indulge now and pay for it later.
However the confidence of a high figure salary might just turn into over confidence with the cost of things which I enjoyed in a period of 15 years have changed.
1- I had a Samurai Video Game console which cost 3000 in 1996 now for the same I would like to have an X-Box which costs me 19000.
2- Whenever I used to eat out 10 years ago a Paneer Sabzi used to cost 30 bucks for a plate now it does 180 bucks.
3- We were proud owner of a Maruti 800 for which my dad always got laurels and was sign that he was well to do. These days I hardly see anyone flaunting something less than 1000000 in values. The zeroes can be added to the back of prices in a fashion similar to v’s in front of VIPs
4- The coffee I drank in 1999 was Nescafe and it made 100 cups for 50 bucks now my single cup in Barista costs me more than 50 bucks.
5- The usual rent for a 1100 sq ft house in 1995 used to be 1000-1200 bucks and now I am paying 15000
6- Previously a vacation used to be a train journey, sleeper class now the decision is tough do we fly Indigo or Jet.
7- I got my first computer in 1998 that was meager P1 processor based system with 32 MB RAM & 1 GB with a price tag of 55000 now I use a Centrino duo with 1 GB RAM and 60 HDD which cost rs 55000 (no wonder I love the computer and IT industry)
8- Treat used to be 27 bucks Vanilla Ice cream 1L brick now it Baskin Robbins or Gourmet Gelato with 65 buck for a single scoop (I don’t even know how many L is one scoop may be .1 )
9- Fuels used to be half of what they are right now.
10- Affairs used to be in love letters on 75 paise inland which ensured privacy. Last thing I would like to discuss is my phone bills when I had a girl friend to talk to.
So now I get more money and I spend more money so everyone makes more money. Anything to be very happy about arrgghh…. I don’t think so