Sunday, November 2, 2014

Being Logical...

People's perception of their financial situation is largely based on how their family members think of and speak of their status.When children hear a parent complain repeatedly of financial troubles, they believe that they are in deep trouble. I have counselled students who begin by talking of a financial crisis in the family, but no sooner do I quote the fee for a high end course, than they pull out the full sum in unsoiled currency notes.Such young people truly believe that they are in deep financial trouble.My guess is that they have an extrovert for a parent, who constantly talks of how difficult it is for them theses days, to pay bills, to manage, etc..

When it comes to paying the fee for a course, it is those who are perceived as 'very rich', who pay late. The ones from a lower middle class or even impoverished families pay the fee in instalments, but on the exact dates on which they promised to. The obviously 'rolling in cash' types, in very expensive coiffured, clothed and perfumed glory, rattle away for weeks without shelling out a single pie. But it would seem deeply offensive and cheap to remind them of the fee. Sometimes this goes beyond the last date for payment.

The moral of the story is each person should understand finance in an objective way. Then we would know how much money we need, and plan exactly how to spend our time based on those needs. Or else we would undergo undue anxiety and stress.

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