With the ATM cards -- one of the most indispensable assets in their wallets all twenty-four hours-- there is an irresistible urge to spend extravagantly. [break]
So, in this section of chitchat, four youngsters -- both working and non-working -- share their views on where and how they spend their money.
Satish Shah, 26, an MBA graduate working with CE constructions, shared, “Since I earn, I contribute some of my salary for the upkeep of my home. For this, I usually make a budget plan and spend accordingly”.
Like many youngsters, Shah likes spending on friends, parties, shopping and enhancing his wardrobes and also on maintenance of the house.
“I prioritize even the small things, for instance, if my computer is in need of fixing, I make it a point of repairing it as soon as I get my salary,” he says.
Diana Shakya, 26, Charter President of Rotaract club of Durbarmarg, agreed to what Satish said. “Depending on whether one has full-time or part-time jobs, one should prioritize and make a plan. I also usually spend money on shopping, restaurants and gifts. Since I earn, I contribute half my salary to my family and the other half for my expenses”.
Shrijana Pandey, 23, BSc nursing instructor in Kathmandu Medical College, said she also spends on novels and also for skills enhancing trainings. She also spends on small courses like personality development training and proposal-writing, among others.
Though their priorities when it comes to shopping differed, they all admitted to have ended up buying one thing or the other; some spend on candy as well.
“If I pass by somewhere and see something appropriate for someone, I end up buying it and since most of my friends are going abroad and departing, the money goes for gifts and partying”, said Satish.
The next discussion then focused on where the biggest chunk of their money goes. Diana and Shrijana nodded in agreement that being girls, most of them money obviously goes on shopping. Sachin Awale, 23, an MBA student, however, said, he spends some of his money on movies, restaurants, parties, outings like Bungee, bike rides and also on gifts. “Since I don’t work currently, I am making use of the money that I had saved before”, he added.
Says Satish, “If we need to buy expensive gadgets like camera, laptops, and iPods, I think we need to save money each month”. He further added, “When we overspend, we tend to borrow money and get into debt. “We need to pay off the debt as soon as we get the pay so that it doesn’t pile up and become a burden.”
What all the four commonly shared was that when it comes to shopping, they splurge and tend to buy things which tempt them. Diana expressed, “No matter how much I buy clothes, it never seems enough”. Shrijana seconded her, “Even if I don’t wear it, I just end up buying accessories that appeals me”. They both laughed and said in unison, “No wonder women are good at shopping”.
When asked how they spent their Dashain dakshina, they all expressed that it was their secondary income, therefore, they neither valued it, nor kept track of where they spent it.
Shrijana added, “When I was a kid, I used to hide the money and not spend it thinking my parents would see it but now I spend it right away for shopping”.
They all shared that ATM has made shopping easy, but said it was also ruining their saving plans as it made money easily accessible and tempting them to spend more and more. Sachin recalled, “Once, when I was earning, I spent my whole salary for decorating my room without consulting my parents and at the end of the month, I went totally broke”.
For Diana, who tends to spend more at the beginning, says she gets broke at the end. “But the good thing about earning is that you get more in control of your life as you can set your priorities”. Shrijana nodded her in conformity and said, “It’s been three months since I have been working and drawing my salary but I am already broke by buying gifts”. Satish shared the same story, “I am either broke at the first week of the month or at the end and when there are birthdays or the promotions party, then all my money goes away, so it’s always good to save money so that in times of crisis the saved money comes in handy”. Supporting the idea, Diana said, “I always save some amount of money in places which I don’t usually look up so that I can have some back up amount”.
Diana, who travels less frequently, said many youngsters in Nepal do not travel. “I have traveled to some parts of Nepal but not much”, she said. “I have not yet spent money on travelling”, Shrijana interrupted. Satish added, “I had saved some money and gone as far as India on a tour back in college with my own money”.
Based on this little chitchat, we can firmly draw a conclusion that all the four youths occasionally indulge in splurging. Apart from this, what they overwhelmingly shared was that they spend money to educate themselves, to add value to homes or upgrading something that is in use every day, going on a long vacation. They echoed that spending money with a vision is important and believe in the dictum: “Saved is earned.”
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