Money and me

I was not born with a silver spoon in my mouth, and in hindsight, that was a blessing. It made me wiser, more resourceful, and, dare I say, quite good at stretching a rupee! I learnt from my mother too about wasteful expenditure and saving for the future. I remember having an empty Ponds powder tin, with a slit underneath into which I put in any coins given to me and at times, I could find few at home! I guess that’s how I began my journey with money. (We Indians call it a Gullak! but I am not sure if any kids save these days ! ) Growing up, I never received a weekly or monthly allowance like many of my peers, but I never really missed it. Instead, I’d get a rupee or two now and then, and I distinctly remember the excitement of receiving five rupees for a school fete. That was a fair sum back in the day! Of course, some of my schoolmates were getting 25, even 50 rupees—practically a king’s ransom in comparison! Thinking back, I did manage to get a few annas for ice cream, marbles, guavas and lemon sweets. My journey with money truly began when I started working at a young age at GEEP Flashlight Industries in Allahabad, India. My first salary? A princely 480 rupees. I felt on top of the world! I gave my mother 200 rupees, saved about 150, and spent the rest—modestly, of course. That small saving proved invaluable when I pursued my B.Ed. Short on funds, I borrowed from a priest and paid him back in installments—a lesson in responsibility that stayed with me. Then came my time at The Bishop’s School, Pune, where the salary wasn’t much more, but the perks were great—accommodation, food, and the opportunity to earn a little extra through private tuitions. I saw boys getting pocket money—two to five rupees a week—some even had extra funds banked with their dormitory in-charge. But here’s the catch: they had to justify why they needed more! That memory still makes me smile. The richer boys, of course, had secret stashes courtesy of their parents. Some even had running tabs at Main Street shops, the school canteen, the ice cream vendor, and the ever-popular Manji, who sold snacks from his cart. It was a different world altogether! My first few large purchases after getting married were on installments that I paid without fail on the first day of the month – a fridge and a scooter! Even today , I never let any bills pile up and I am proud to say that I have never taken a loan ! At 18, I started playing part-time in a band, adding another income stream. I won’t say I became a rock star, but it certainly helped! When I moved to Dubai, things improved financially, but my habits never changed. Five-star hotels, lavish parties, exotic holidays and extravagant outings were never my style. I live well, but I’ve always believed in saving for the future rather than squandering money on fleeting pleasures. Even now, although I can certainly afford to, I never go in for wasteful expenditure. I still bargain to the best of my ability and watch my spending. After all, why pay more when you don’t have to? The only things I don’t mind spending too much on are clothes and shoes—and that too, not designers wear by any chance! I have brought up my two daughters the same way, teaching them the value of money and how to spend and invest prudently. Thankfully, they have learned well. Schools, too, can and must do more. Rather than spending so much time on subjects and topics that have little or no bearing on real life, money management is a life skill that should be compulsory. After all, isn’t financial stability a key part of overall well-being? I firmly believe children must be taught about money and savings in school. Understanding finances early can shape a person’s entire outlook on life. As a boy, I earned pocket change running errands, but one of my earliest "jobs" still makes me chuckle—my aunt would pay me one pice per grey hair I plucked from her head! If nothing else, that taught me the value of hard work and earning money —one grey hair at a time!