We humans are very irrational creatures when it comes to holding our money 💰💰💰💰💰💰.
Even though the value of every ₨.100 note in everyone's wallet is the same, we assign different values to it based on our circumstances. For eg, A rs.100 note would mean the world to us when thinking of a Netflix subscription. On the other hand, spending rs.300 for that hot chocolate 🥤🥤at Starbucks becomes a spare change. Why does this happen ??
Have you ever thought about it ??
Our mind subconsciously creates multiple accounts in our head for each kind of activity and hence we allocate different values to money based on those activities. But this is the wrong👎👎 way of doing it.
We need to convert every rupee leaving our pockets in terms of opportunity cost.
Next time you spend money, ask yourself "What else could I buy with this money" and if you are not able to think of anything better, only then spend it. This will help you significantly curtail your expenditure and increase your savings rate.
Let me explain it better with an easy example, it feels normal for us to spend rs.2000 in a restaurant for a lunch.....but spending rs.2000 on upskilling yourself (like in books, courses, etc.) would sound a lot.
It's not something new or that it happens only with you, it happens with everybody. So don't worry, just need to work on this habit and improve it.
Do mention it in the comment section, if you have also been through this phase.
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