The cost of renting a home or apartment has been steadily climbing in recent years, and the trend shows no signs of slowing down anytime soon. If you’re a renter, you may have noticed that it’s becoming harder and harder to find an affordable place to live. Unfortunately, you’re not alone.
Recent heart-wrenching story from a family in Bangalore left me deeply moved, and brought tears to my eyes.
Source: Moneycontrol
How can we piece together the information and gain a comprehensive understanding of the broader context?
- Companies are forcing everyone to work from office
- If you are in 20’s just your earnings will be pumped into that city
- If you are in 30’s, apart from your earnings, your children school fee and your wife makeup expenses, everything will start floating into developed cities again
- Rapid influx of people and money into the city will cause some chaos. Resources, infra and services are not increased in the same proportion right, so prices will rise certainly making everything much more costly.
- Normal individual from a middle class background could not able to make thier ends meet because of the current ongoing trend. They are helpless trying to find own ways for lifestyle catchup.
Takeaways:
- Everyone needs to reduce lifestyle cost so that they can live anywhere in the world which gives mental support
- Never get into too much debt because uncertainity is becoming new normal even in job or business
- Always plan one step ahead by preparing for the worst & best side of coin
- Don’t mix emotions when taking financial decisions
- One’s aspirations and income should be aligned
- Start financial planning at least from today !!
Don’t take anything for granted.
It is unwise to assume that things will always work out as they have in the past, and it’s important to avoid taking things for granted. Trends and circumstances are constantly changing, and we must be mindful of these changes to avoid becoming outdated or irrelevant. Otherwise, we risk being left behind and becoming a footnote in history.
