Real Money: A Surreal Fact Today !??

 

Prof. S, my HOD for economics at college once said the best way to understand economics is to talk to our grandparents and learn their money habits. I, being a commerce student found it as a short cut as most commerce students wouldn't understand why economics was even needed as a subject.

Today, I bite my tongue and chew my words.

In the world of economics, real money is understood as a concept which gives money a constant value. For a more common humans like us who live from budget to budget it means usable cash/money.

Ooops..let me correct myself. Its EMI to EMI and not budget to budget.

From an era with equations of Income – Savings = Expenditure, we are Income-Expenditure = Savings.

Albeit, its a universally relative concept and ideology, it is something never a miss.  Needs have been redefined. From Roti, kapda aur makaan..its Pizza, Wardrobe and Wi-fI and Mobile and Car and Holiday and so on and so forth.

I pretty much am born and living in the current generation at the same time, what beats me hollow is the fact that the amount  of uncertainty we have accepted. Its a multi dimensional realisation.

Taking risk is good. But, being dependent on it is questionable that too by choice.

Having being travelling by public transport, one often comes across stories of woe bitten lenders to people bathed in borrowings or fancily put EMI.

NO... I do support EMI as it has changed the whole way of money management. Like every microbe living, it has its crowning moments too. What was earlier a long term goal for a salaried  person is now a short or mid term goal.

My opinion is on the dependence on EMI. Do we really understand if its needed always before we take it?

Yes, it sounds old fashioned. But lets have quick silent flashback. Our previous generation is capable largely to fend for themselves and us too.

They always have money to invest and we always have money to spend.

It may not matter as on today. Perhaps for a few lucky, it never will. At the same time, it does bear a striking resemblance to a day wage worker who has no clue about the next day.

As usual a few smart ones will play it well. What about the average Joe/Joan? ?

Considering that the definition of average has changed too, are we working upto it?

This is just a thought given, not a judgement on charges its viability.

Lets take it further...     Meanwhile, let me pay my EMI before I have calls coming. Bye.