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Originally Posted by tsk1979 A Salaried person as access to limited funds, and lots and lots of responsibilities.
Our psyche and bringing up tells us family and house are more important and a flashy car is a luxury. Luxiries come after necessaties.
Before the IT days, maruti 800 was a luxury, and the necessity to be mobile could be taken care with a bike. So we bought bikes.
Now a midsize is a necessity and a flashy car is a luxury.
Thats the reason I would go for a midsize diesel rather than a 12L performance car.
And I think my priorities are right. If some day we can afford a flashy car and provide all other needs like financial security, house, education to our family we will buy that, till then we wont.
Infact it is a good thing. In America kids get out of college and buy the most expensive car they can with their first job.
Thats the reason when dot com went dot kaun, it hurt them the most.
Indian IT pros have always given importance to family and savings. Thats the reason of we spend 3 months looking for a job before after a lay off, we can stll feed our families. Couple that with the family support system, we can stave of the depression.
But in America when these kids get laid off, the spiral downward because there are not savings and they never created a family support system, because personal desires always took over as opposed to family responsibilities |
I dont know man i am not fully convinced if this way of life is totaly right..
Anyhow everyone has a way of living, and hence the guys who is earning 120k+ is still living like a poper, you earn to live and not just to make sure you have a bright future..hardships come and go if you are smart in making your expenenses you can be ok when some sort of a hardship come by...
I see americans have been living full on for such a long time and they seem to be much better off than us, living in more luxury with a larger market, untill you spend the return will never come back to you, its a circle..the more you spend eventually the more you will earn....
but savings are important and i keep it at about 10-15% unlike indians who keep its at 40-50+%