broke

First Salary Dilemma

There’s nothing like that excitement prior to receiving your first ever salary.

I’ve never been short of cash, owing to my generous pocket money, but the feeling still isn’t the same. Your salary is your own hard earned money, to be spent without any guilt or obligation.

“I should treat myself, buy that leather jacket I’ve been wanting since forever.
And something for my dad.
And boyfriend, bless him.
Maybe a striped tuxedo for my cat.
Oh and that hot air balloon ride I’ve been meaning to take for so long!
And also invest, yes that’s the smart thing to do.
Ah yes, a new phone!
Oh God, I’m filthy rich.”

That never happened. I was so engrossed with work I never even noticed the deposit in my bank balance. When I finally figured, I’d already blown it on street food, recharges and fuel.

And I was poor again. Bankrupt, I liked to exaggerate. And I refused to accept dad’s ‘pocket money’, much as I needed it, out of sheer pride.

Since, I’ve grown smarter with my cash. I’d learned the hard way that you’re never really rich, and have created a whole pattern for spending.

  1. Tax, well TDS, blah

So the 10% of my salary paid to TDS can actually be claimed back! I was sceptical at first, but since it’s happening, might as well list this as my savings.

  1. Investment

For when I’m unemployed again, since my ego has proved to be too big to borrow any cash. A huge 40% of my salary is invested into medium and low risk assets.

  1. Shopping

I reserve 20% entirely to cross of that ever expanding list of things to buy. If it isn’t enough, then I combine the 20% of a few month’s worth of salary to buy it. That way, I’m never over-shopping. Smart? If I manage to pull it off, yes.

  1. Hang-outs

It’s Monday. You’ve spent more than you intended to in a moment of drunkenness last Saturday. You decide the following weekends going to be chilled out. You, your cats, your pyjamas, a good book. Come Wednesday, the weekend’s all you look forward to. Come Friday, your friend’s call you out. You remember your earlier promise but hell, to friendship! Repeat. There goes 20% of your salary. Over.

  1. Others

I like to think this includes the 10% of balance remaining in my bank account. Never happens, no. But noting it down here makes me happy.

I’d bet my life’s savings (haha, get it?) that this pattern really could work. A few ratio adjustments, and it could work for anyone in the same boat as me.