Friday, June 19, 2009



Being a banker my self and having lived a life in the same way for more than a couple of decades, I have enough experience planning and execution of our Branch targets, which for me was always easy, and I can give the best business guys an advice or two in dealing with their finance, short comings as well. But personally I have been the worst money manager in life.

Firstly, I will deal with the two types of bankers or bank employees out of whom the first category falls in the side of best practices in life and they knows the value of money & are very strict in their spending to the tune of becoming a miser who counts each penny and saves even at the cost of scarcity at home front, be it the regular mixer grinder or other comforts in life ,which they do away with till such time when they have saved enough to purchase a house or a four wheeler. That happens only by the time they retire. The second category is the type who goes for it straight away by availing loans to have all the comforts early in their career, and the loans normally follow them till their retirement.

Who are the wise ones among the above two types. It is a difficult task, hard to think and come out with a solution. For the negatives of the first category is they spend all their life living it as a miser normally does, and dies a rich man, invariably their children follows the opposite as they were deprived, while their father was alive. Secondly they spend more time together without much of an entertainment for the miser just can not think of spending for sheer entertainment, on the other side benefits for the family spends the time together and are close to each other.

The trouble with the other side is that they provide their family the top comfortable life but at the cost of having to struggle with the burden of keeping up with the cheque dates. I am not sure whether it was a sheer waste of money and interest, exorbitant at that, was really worth all the mental agony and disturbed times with the family though, they are blessed with the life of a millioner perhaps, but the cost at times is too high for an individual who may find all his calculations going wrong either way, if the lord is not in their favour or are going through the worst phases in their life. Instead of other major setbacks health wise or due to sheer accidents or deceases etc. loses money heavily, and at times comes out triumphs in the end at least, that’s my consolation thought for I belong to the second category. Here the memories of children will be of the good times during childhood, if one succeeds in catering to all their needs but still manages to stay upright.

There was this story of a banker who decided to take VRS by calculating all his pension benefits and the terminal benefits, which all counted to some good amount, Somerset Maugham was the author, in which he remembers the banker cheerfully narrating his plans with the money, which came to him as his terminal benefits and told the author that he will be happily living ever afterwards and goes to buy out a cottage in an island where he starts his retired but peaceful life as he first thought of it. As years went by things started to go terribly wrong for the banker, as astonishingly he found all his calculation abilities going Hayward and suddenly, he was old and left with nothing else to turn back to but unfortunately goes on living very miserably for a lot of his older days. My brother reminded me with the same story, when I informed him of my plans to take VRS and after paying all the dues my pension itself will be more than my take home pay of the present times, for there were hell of a lot of loans still to be paid, and thought this might be a chance to come out of the hole once and for all. But the above story struck me like a lightening with thunder and I forgot all about going on VRS.

I am still confused as to which way to show, for our children the miser or the spendthrift, but my advice is to be in the middle if possible and try and check, your progress once at least in a decade. Money and materials come and go with out ever being invited, or thrown out, but the wisdom has to remain with us to choose the right way at the right time with the right balance of approach.

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