what I have learnt about living to the fullest when not earning to the fullest

Well, if you are one of those charmed people with a rich <insert dad/boyfriend/job> that gives you the license (credit card) to buy a shopping cart full of Swarowski without looking at the price tags, you well may stop reading now. But this post is for those independent young souls making an honest buck out there while being eternally broke.

This post is almost ironic coming from me considering how apparently dismal I am with my own personal finances and but living away from home, for >2 years and having earned my first pay when I was 16 has definitely made me wiser about the green matter and as Linda Goodman very aptly described a Cancerian girl " ...Your savings account may be of unusual interest to her, and money may be one of her favorite topics of conversation. She won’t look down on you if you don’t have it, so long as you’re the kind of man who tries to get it. She’ll help you make it and save it, but you’re on your own when it comes to wasting it.."

While my salary won't make a investment banker envy me; the free gourmet food & coffees all day, the massages, the works, that come as a part of working at Google, you forget about a little detail called the wallet once inside the little corporate heaven. Having said that, work is not the be-all and end-all of life and spend and save you must, WITHOUT being a scrooge and still living the good life. So here are my 10 cents on how you can live to the fullest, when your paycheck isn't written to the fullest. (My dad would have been so proud of his 23 yr old daughter dishing out this post :)

1) Take care of your personal possessions- Ok I hear my friends snigger at this. If you know me well, you know, that I'm the last person to be advising this 'cos it's like Rakhi Sawant holding forth on diction and vocab, but trust me because I've learnt the hard way that being careful with your money and possessions is the best way to save money ( duh). I'm not exaggerating but in the last few years, I might have lost over 100s of thousands directly or indirectly via loss/theft of cash/wallets/debit cards/cameras/phones/keys what have you. So now I try really hard to not lose things. Simple. (My friends used to laugh at this, but I actually started labeling all my stuff with my name & sometimes phone number on it ) It worked. ( I lost my house key once. It had my number, person found it and called me. I saved 300 rs on getting a duplicate. Rinse. Repeat )

2) Invest : Again, not the best person to mete out investment related advice, but coming from a finance family, I know that money is made to grow and not grow fungus at that. I have seen people turn around their meagre savings into massive wealth by just being shrewd with investments/tax savings etc. Be it a savings account, an FD or if you're a bit adventurous, invest a bit in stocks with a trusted broker ( I have one in the family, in case you're looking * ahem. family business pitch .ahem *  ) and watch your money take a life of its own. Be smart about taxes. Why pay the government a chunk of your hard-earned money for their personal extravagance? buy policies, invest in bank schemes. Only will it get you good returns in the long run but also save taxes. I know a few people who've never paid a rupee in taxes!

3) Sales/ Deals : If you are a shopoholic like me, savings mean very little. But not when you're a smart shopper, also like me. Honestly, I like to live comfortably and aesthetically. So scrimping on "comfort creatures" is not my thing. I have a wardrobe spilling over with clothes, shoes, perfumes, whatever else a girl my age trips on. And no I'm not a 'spoilt rich dad's girl'. What do I do to keep the good life going? Look for value and not a bargain necessarily, shop during sales (usually on the first few days), look for deals on things online and ask around before buying something big. Ask yourself: Could you get a better deal? Will pre-owned just work fine for expensive household stuff? Or is it worth buying just for one use?

4) Be creative: If you're like me who lives in a city away from the family, you dont need to rent a palace to live well. I live in a beautiful, ok, decent penthouse in a prime location of the city and pay a fraction of what others would for any other house in the same location. WHY? Cos the house was a dump when I took it. But just about any house can look good if you put in some effort and creativity ! (I painted it myself, for example)
Plus, when you like your house, you'll want to go out less often and 'hang out' in the house more often. ( Read: less "2000" rs entry charge to clubs)

Ditto with gifts for family/friends on occasions. Do you really need to go last minute and pick up that gift off the nearest Archies ( *puke*) store and wrap it in the done-to-death silver wrapper ? I have this thing. I pick up interesting things whenever i spot them with or without someone in mind and then gift them when the ocassion demands, giving me ample time to personalise them, create a theme around them and gift them well in time for the big day! There is no such thing as anything bought by you going for a waste when there's a birthday/farewell/wedding every other week.

5) Travel smart- Most people associate travelling with luxury. Hell! I'm 23, I have travelled pretty much all over India and have been to 9 countries in the last 5 yrs. And none, mind you, was a work sponsored trip and with minimum help from the family.

How? 3 rules
1) Book early and try different date combinations to get the best deal. ( I booked my thailand tickets 6 months in advance at a 5k return trip). Use overnight train whenever possible instead of the flight. (Gives you ample time to read/listen to music as well)
Also, arrange your passport/visas well in advance to avoid last minute broker fees/hassles etc.
2) Ban the hotel!  Make friends all over the world or couchsurf ( but do carry gifts and take them out for dinner!)
3) Research. Google to the max to research travel deals. The best time to go, what to shop, what not to, etc. Take multi-destination flights if they work out cheaper.

6) Don't live alone! Well if you do or are planning to, don't.

While living alone will give you that sense of your own space and privacy and what not, it's not pocket friendly at all. Needless to say, you end up paying for everything in the house yourself. From my experience living with another person is good and with 2 more people is optimal.(But more than that is just a mess). So rent, building maintenance, electricity, water, is split by more people, keeping your living costs low.

Besides, coming back home to walls, as well decorated as they may be, can never be as warm as coming back to people, family or not.

7) Socialise more : It's funny how I co-relate the two but it's true. The more people you know, the less you spend.

Read: when you know more people, you're generally savvier about the world around you, you "share" more, not to mention, you can always travelpool and do things together that save money in the long run.

8) Cook more: If you live on your own, and a major chunk of your money gets eaten by (pun unintended) by eating out, now's a good time to getoffyourass and start cooking! Not only is it a brilliant skill, it's healthy and it'll also save you tremendous amount of money that you otherwise spend on travelling to places & eating out junk at! I have a 2:2 rule for this. 2 days of the weekend means at least 2 meals cooked at home.

9) Get a side job: There is no such thing as "too much income". If you have a job like mine that leaves you with ample time to do other things, do them! If you have a hobby, turn it into a vocation. I know people at work who have turned their hobby of writing/baking/photography etc. into a lucrative side business, not to mention, channelizing their talents well.

10) Be generous to people : I know this sounds contradictory to the point of this post but being smart with your money does not mean being miserly or cheap with people around you. Give gifts on occasions or just like that  (I give my friends things i know they'll like all the time!) Invite them over for lunch/dinner/tea, etc. Offer your things when not needed. Advise, help around whenever possible, share best practices etc. Donate a  bit to charity and do your bit for your favourite cause etc. You know what they say about -What goes around, comes around .

Ultimately, remember that money is an important factor to happiness. But it's not how much money you make but how you spend it, that really does influence your happiness.

Here's to a richer & happier you ! Ka ching!