IN the year 2008 when everyone was talking about pink slips and zero bonuses and crashing stock markets,it reminds me a story that controlled our tendency to behave somewhat irrationally in money matters.
Imagine that you are in a store,buying a watch.You like the brand and the design.The strap is just right.Price is Rs 999 that fits your budget.You decide to pick it up but just as you are about to pay for it,you bump into a dear friend.He notices the watch and tells you that he has seen the same watch in the store across the road-priced at Rs 899.A WHOLE HUNDRED RUPEES LOWER!
What would you do? Most of us,I am sure,would walk across to the other store, and save hundred rupees.Why spend Rs 999 when you can get the same watch for Rs 899?Makes sense!
Now,let us imagine another scenario.you are at the store buying an expensive swiss watch.you like the brand and the design.It is priced at Rs1,50,200.And you decide to pick it up.Just as you are about to pay for it,you bump into a dear friend He tells you that the same watch is available at a store across the road for Rs 1,50,100. A WHOLE HUNDRED RUPEES LOWER!
What would you do now? Like most people,you would probably stay put and buy it there only at the same store.Afterall,what is hundred rupees value when you are spending some1,50,000 rupees?
But we tend to get carried away by an unrelated metric.How much we are spending at a given moment affects our perception of the money being saved.If saving hundred rupees matters to you,it should matter to you regardless of whether you are spending 2000 rupees or 200,000 rupees.we all need to learn the value of small stuff,those hundred rupees note,regardless of how much we spend.In times of abundance,it is good to be cautious.It may just help stretch the abundance a bit.
Getting money to work for you is no different from getting people to work for you.IF YOU DON’T TREAT YOUR MONEY WITH RESPECT,IT WILL LEAVE YOU. And when the recession hits-as it will sometime-those who valued those hundred rupees even while they were spending big,will find themselves better placed to tide over the difficult times.
In times of abundance,be always cautious.It may just help stretch the abundance a bit. If hundred rupees really matters to you,it should matter to you regardless of of whether you are spending 2000 rupees or 200,000 rupees.
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