Disclaimer: The opinions expressed in this article are solely of the author.
Saving can be quite a difficult habit to incorporate when you’re earning in peanuts. Spending can be an even bigger stress point when you’re earning in peanuts. As a millennial, finances are a big cause of worry – you want to have an enviable bank balance yet earning what you wish is a great challenge. Constantly thinking about how to make that additional dough while ensuring I was managing to meet all my financial responsibilities caused me to have a mental breakdown – much worse than I’d anticipated.
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How was it really triggered?
One of the biggest factors that triggered such a breakdown was social media. Looking at photos and videos of those younger than me, living an enviable lifestyle, vacationing in exotic spots, made me want to achieve more. While that is a motivating factor, there’s layers of jealousy and self-doubt that I did not factor into the equation. As a result, I was constantly stressed out, constantly worrying and always making sure I was not spending on anything unnecessary. However, there’s a massive downside to all the negativity – I stopped enjoying what I was doing.
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As a millennial, you do want to go out with your friends, enjoy a drink or two, have some good food – these are expenses you know you want to indulge in but are also unnecessary. For months I ensured that I avoided all plans as the fear of spending my hard-earned money haunted me; even if it was necessary to release the stress. Any social plan, be it with family or with friends, started becoming a distant memory.
Naturally, there came a point where a few necessary payments triggered a breakdown as I could see my bank balance dwindling. This is the point that I realized: no more.
How I incorporated a healthier understanding of money
It is very important to understand that money is not the only thing in life. Sure, it helps to live that glam lifestyle but without it as well, life is still beautiful, something I had long-forgotten. In the race to become more upscale, up-market and posh, I had forgotten what it felt to have Rs 10 wala chana chaat at the corner of the road or the Rs 70 momos in the nearby stall. I went back and did all of those things.
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Another lesson I learned is that although savings are important, it is important to save if and when you can – not stress yourself out if in a particular month you’re strapped for money and cannot do it. There’s always time and we’re still relatively young with a long way to go.
Becoming maniacal about anything in life is something that is not advised, and if it were me I was speaking to a year ago, I’d say the same.
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Lead image credit: Soda Films + Atresmedia Vancouver Media
