3. Wanna Save More (?)

I want to save 300K INR in next 12 months.

What for?

So that I can keep it safe and use it after 10-15 years.

Why don’t I buy a car?

No ways – Car will depreciate over a period of time and I will hardly get any resale value after a few years. My investment of 300K will just fetch me a return of hardly 100K after using the car for 6-7 years. What will I do with 100K when I can still stay without a car and put those 300K in a fixed deposit and make at least 150K more?

Ever thought what happens to the hard earned money in it’s form over a period of time?

It does depreciate with inflation.

For instance, If I save 100 bucks and put it in a bank for 10 years thinking that I shall spend once it becomes 200, it sounds like a plan in the year 2010. At the onset of 2020, I think of withdrawing 200 bucks for spending and I realize that what I would get for 100 bucks in 2010, I am getting for 200 bucks 10 years down the line. I missed the chance of enjoying it for 10 years and now paying the same price for it after keeping it in Bank’s custody for 10 long years thinking that it’s multiplying.

Over and above, there are certain things which I cannot enjoy later due to my health and age. At that time, a thought might pop up – All that I earned seems to go in vain.

I know there can be several counter arguments to the above but the Crux is – what I feel like enjoying today, I should strive to.