LIVING IN A CHANGED WORLD. SOCIAL EFFECTS OF COVID-19.

We have always taken our lives for granted. Going out, meeting with friends, watching the children play in the parks and many other things felt good but was not something that made our heart skip a beat. We enjoyed living paycheque to paycheque. We took our lives as it was for granted. Those days are now a distant happy memory.

               Today, after more than 2,50,000 innocent lives lost, our meaning of being alive has changed completely. The meaning of humans being a social being has changed completely. Everything that seemed impossible just four months back is a reality now. And everything that seemed normal just four months back, is now out of bounds. Who had thought that final year examinations can be cancelled for students and every one getting passed without exams? The entire meaning of human survival has changed. The meaning of being alive has changed.

               WELCOME to a NEW world, a CHANGED world. In this new world taboos have become social norms. Meaning of spending time with family has changed. The concept of large social gatherings have become alien. Getting into crowded public transport is unimaginable. Spending money on show off possessions is unacceptable. Importance of savings is paramount. Financial minimalism and essentialism is the go to agenda for everyone.

The joy in a cheerful handshake. The feeling of hugging a loved one. The soothing feeling of wiping tears with hands. The happiness of sharing a lunch box with friends. The simple sense of a physical touch. We will miss them. We will cherish them in our hearts.

            We have sacrificed a lot for this life in mask and gloves. In a weird way we are happy amid all this because, after all, we are alive. We are not among the ill fated 2,50,000 souls. This is our new reality. Anger, hatred, jealousy are now things of the past. We are just grateful that we are alive. With a hope that in the distant future we will see good days. Hopefully those days come before good days become a forgotten memory.

STAY HOME, STAY SAFE..

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SAVE MONEY- 3 WAYS TO SAVE MONEY FOR STUDENTS..

LIFE of students is indeed difficult yet the way we spend these years decide our path for the future. These years of dependence on parents teach us lessons that mould us into people who we are going to be in the future. Most of us in our youth do not focus on saving money. Our energies and social commitments are high during these years. There is immense pressure on maintaining a certain standard of dressing and accessories so that one is well recognised in his/her peer group. This leads to financial stress and leaves no room for savings. Apart from this, the added cost of clubbing and partying in Tier 1 and Tier 2 cities drain resources in the name of enjoyment.

Clothing, accessories, latest tech are all craze when we are a student. To be really honest these things do define one's image. They make a person matter in a group. But all this recognition does not do any good. This false image and its maintenance robs away one's chances to have a strong hold on finances. When this habit remains, it manifests and can lead one to financial problems in the future with his/her hard earned money this time. 

For these following techniques of saving money to prove beneficial, one must first let go of all the above false notions and practises that in reality does no good. Once this is accomplished here are the ways you can start saving money and take steps for a financially independent future.

                1.SAVE FIRST, SPEND LATER..

This is more of a habit than a technique. As the words mean, one has to keep money aside first as a saving and then decide on the spending part. One has to inculcate this as a habit. Students have limited finances which they are very eager to spend. This step ensures that one remains in check by fixing a certain amount to be kept aside each month and carry on with all the remaining. This limits the chances of over spending. Once the money starts accumulating in the savings, this habit becomes sustainable. It's basic human nature. 

For doing this one can use the famous 50:30:20 rule. This rule states that 50 percent of the money should be used for needs. 30 percent for wants and the remaining 20 percent should be saved away. This technique is not only for students but also for adults who struggle with finances. This ensures that an individual learns to differentiate between needs and wants effectively.

It is also equally important that the saved money is not touched for wants generated during immediate burst of emotions. It is preferable that the money is tucked away in a good old and reliable savings account. It can also be invested so that one can not obtain access to it easily. But that I will discuss it later in a separate blog.

                              2. ROUNDING OFF.. 

This is a very beneficial habit. Although the amount seems to be very small but when it accumulates, it can be pretty amazing. According to this method one has to round off the money one has at the end of each day and save that rounding off amount. For example, if at the end of a day you have 126 rupees in your purse, then you have to round it off to 120 rupees and save the 6 rupees away. Thus you will have 6 rupees savings at the end of the day. This process needs to be repeated daily and at the end of the month this amount will grow into an inspiring sum.

Not only hard cash, this should also be done for amount in one's bank account. The cash can be kept away in a piggy bank where as the sum from the bank account can be transferred to the account designated for savings as mentioned in step number one. I have been using this method for years now and the result has been great. Almost every time I ended up saving away the amount accumulated through this method at the end of a month. This has taught me a great deal of self control which has helped me and my finances.

         3. CONSCIOUSNESS REWARDS TO ONESELF..

This is a pretty interesting technique. This helps one to decide between needs and wants. It also teaches a great deal of self consciousness. This technique can be best explained with an example. Suppose you went to a shopping mall just to wander about. But you fell in love with a dress and you immediately pick that up. Just before paying for the dress your consciousness kicks in. You realise that the dress isn't a need rather a want. You leave the dress and come back. As per this technique you need to be rewarded for your consciousness. Thus you save away the entire price of that dress in your savings account. You not buying the dress saved you money, you just give it the literal sense of savings.

This technique is really for the ones who have mastered the above two techniques. It requires a great deal of self control to achieve this feat. You need not save away the entire money if it feels like a torture. You can save half of the money and the remaining half you can use to treat yourself with something you like. This will boost yourself to carry this on in the future.



All of the techniques that I have talked about have been practised by me for more than 4 years now. One can mould the above techniques as per ones financial liabilities. But these moulding should not change the actual meaning of such techniques. Being true to one shelf is very important and it's advisable that one learns this trait early in life. A penny saved is definitely a penny earned. Jump start your journey towards financial wellbeing by following these steps.

Do comment and share some more of the practises that you follow for saving money..

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