On 24 feb, when I took out my mini statement from the hdfc ATM , this was the balance in my salary account. Rs 721 , after working for 7 months with full commitment(I guess), the bank statement reflects the money I made. Obviously this is not because I am paid in peanuts but because of several other reasons .
Firstly to save tax, I invested the maximum amount possible in tax saving schemes some of which would mature when my children starts earning. So I don’t know what I am saving is for my own good or just for the heck of not giving away a part of my hard earned money(not really hArD – Earned waise but watever).
Then one day a HDFC call centre guy called up to ask if I wanted a credit card that’s life time free. I was game . Now that I was earning, paying credit card bills wont be difficult. So from then onwards, I was really cool in spending money n all. Went to shopping with mom and paid bills with credit card. But payback time comes on 8 of every month. And then I realize that its always better to pay from a debit card then to pay from a credit card and realizing at pay back time that you don’t have enough money to pay back.
Next was my thought of making money in the stock markets. I borrowed some money from my dad to invest in the booming stock market. My first choice for investment was buying shares of Tata Steel that made India proud by buying out Corus. The price of its share was falling so I thought of investing in it. I being a small term buyer wanted to make money in the shortest period possible. But end result , I was down by 5000 rupees . Again I cant pay back my dad as the Salary Account shows figure of 721.
So where to get the money from . Today is 25, n feb being of jus 28 days , in four days I would have some money. But then I have to pay my next credit card bills, my car pool money to my dear friend Katyal , my phone bills, etc etc. I haven’t received Feb Salary and I am eagerly waiting when march would end(31 long days) . So ultimately it’s the same story, I would have to rely on my dads money. I ask my dad sometimes why he isn’t bill gates? His reply, he is waiting for me to be one. And then I dare not ask this question to him again with Rs 721 in my salary account.
PS : Yesterday night we were sitting in our drawing room, then I told everyone I would like to get a nice home theatre system . My cousin instantly told me “sid, its late, go to sleep dude.”
Sunday, February 25, 2007
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About Me
- Sidharth Saboo
- Delhi, India
5 comments:
a heartwarming tale.......
Good Saboo.. Same story here... My credit card balance has shot up above 85K.. Since i am leaving my job.. i will not get my Salary this month...The minimum credit card payment i have to make is 8000 p.m. The room rent is 4500.. the telephone and Petrol cost another 5000 pm.. Man i am doomed....
@ banga : u have a bigger story to tell dude
sahi handsome...ask me iv survuved 2 quarters here in US without funding i know wat money means....
There z nothing wrong in using ur dad's money until u become a dad.
What u shud concentrate upon z "how to convert this Rs721 in $721bn" and i m sure u hav d potential to do dat given a very supportive environment in IIM K.
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