Earn Rs 10,000 by your sweat and decide to spend it out freaking across the city, eating drinking anddd being merry. Next earn another Rs 10,000, deposit Rs 1,000 ina Bank Account and then give your mother or sister or wife a gift of Rs 1,000 .Now spend the eight thousand rupees on whatever you like. Which spending gives you more satisfaction?10,000 or 8,000? In both cases, the money was earned by you and you have spent it ( not anyone else).. The knowledge that you have spent on yourself after sharing a part of it with the family , gives more satissssssfffaction than the reckless spending of the whole money on yourself, even though you earned it.
Budgeting is a self-disciplining effort and is a desirable effort. Spendthrift habit comes from easy access to unearned money. After a few days, regret wil follow. I still remember the buring up of most of Rs 100 in ONE DAY in the year 1958. Didn’t realise the folly until I was employedin 1962 and got Rs 62.50 as my first month’s earning!
LEARN AND LOVE BUDGETING.