Credit crisis amongst Bengaluru Techbros - I am one of them
I am seeing too many people around buying things on EMI - something that wasn't there as much in India before amongst people who earn so much. I'm not buying on EMI, but my spends are quite irrational, if I look back.
Examples:
- 25K on a Keychron mechanical keyboard: "Because I need that satisfying sound to feel productive while typing"
- 15K on a standing desk converter: I used this exactly twice before sitting down permanently because my back hurts.
- 20K+ total on 'minimalist' oversized t-shirts: They look exactly like the Rupa baniyan I wear to sleep, but these are "streetwear"
- 40K on a yearly fitness membership and stuff: I will go to gym 9-10 times, talk about it 20 times, and then ghost the gym for the next few months
- Iske saath saath protein powder ofc...
- 50K into a random small-cap stock: Because a guy I met at a brewery told me it’s the next multibagger.
- 20K on craft beer and sourdough pizza in a month
By Monday, I will be back to complaining about high rent.
I cannot believe I grew up in a household where we would eat out once a month or twice a month. And where I would get 10 rupees every week to buy chips.
Times have changed and I feel so spoilt.
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Chuu hai kya bhai, who tf spends so much on useless shit
You should save up for an emergency fund instead, or invest, or build some side hustle. Starting a business barely takes 1 lakh these days if you have your own property.
Sounds like you are suffering from “Impulsive Buying” problem. It happens. Try to delay purchases, you might later feel like you don’t need those expensive stuff and avoid spending money on unnecessary things.
Try to divert spendings on experiences (travel, hobbies etc) instead of materialistic things.
Since you are 97, soon you will enter in a phase having more responsibilities and automatically start taking better decisions on spending side.
True indeed! Delay does helps a lot and it helps us to be patient. I have observed this behaviour that gadgets we purchased from blinkit or instamart have less affection then the one that we purchase from amazon. I might sound bias but observation is from our home
Buy more fellas. Slowly it will start as people failing to pay emi - bad loans - credit crisis for small banks - credit stress for lenders - housing price will tank - people who invested in real estate will lose the leverage - more stress in credit sector - SFB crisis - BFSI slowdown - parallel tech sector crunch and job loss.... iske chalte more structural economic slowdown
Bas isi ka intezaar me cash rich ban ke baitha hu. Next crash me job choor ke ek achha sa apartment leke zindagi jeena hai 🤣🤣🤣
Kitna cash rich if I may ask ?
20K+ for T-SHIRTS 👕 🫡
25K+ For Keyboard WoW....here I am using Mac Keyboard 😅
Itna courage kha milta hai?
My Mom does the same thing. She buys everything & then find excuses not to use it. Like I got her a treadmill for 60K & now it is used to Hang dry clothes & put random stuff.
It is impulsive buying & she does that whenever she wanna feel good or she is sad.
May be you can take some therapy & invest there.
Could be of some help
Take care
True… Sometimes when distressed buying something gives bit of happiness though we know that it is not real…
YOLO Generation You only live once....
Just an opinion (because that's what we all do on this app) -
If you don't have any responsibilities (sending money to family, parent's loan, education loan, upcoming big spends like family wedding or buying house/car for parents etc etc)-
don't stress much, you are lucky to be coming from a place where you don't have to think twice before spending, and that's ok.
Guilt trips will occur occasionally because of our middle class mindset, but in the end, if your spending ways doesn't hurt anyone financially, it's still ok.
In the end, you might end up with lesser corpus than others, but it's ok if you're enjoying the life with the money you spent and that too with the comfort of no responsibilities.
Just don't end up blaming others, or even yourself, in the long run, if it hurts your long term savings, just own up your expenses, you spent it on yourself and that's ok.
On the other hand, if you do have some family responsibilities (sending money to family, parent's loan, education loan, upcoming big spends like family wedding or buying house/car for parents etc etc)- Then you do need to change your expense process. Own up to your responsibilities, and save more to get cleared of those responsibilities first. It doesn't make sense, and honestly it's not fair to yourself and your family if you spend all your corpus without clearing out those responsibilities first. That's it, no other option there.
So I feel it's all about owning up, be it your responsibilities or be it your expenses.
Spend on for health no problem but 25k on keyboard that too mechanical thats weird and others too bad
No problem brdr, at least gdp numbers goes brrr