First Job is every person’s dream. It brings
financial freedom to the person concerned.
One starts taking financial decisions
independently.
In the years of pre- liberalization, getting a Job
(and that too a government Job) was a big
achievement. Salaries were low and joint
families were the norm. So, there used to be
collective decisions and elders had a voice in
financial matters.
As the markets opened up, getting jobs became
easier and something taken for granted. Salaries
started in lacs per year, even at the entry level
and even with a simple graduate degree;
especially in the financial sector (Insurance,
Banks etc.).
This growth caught us Indians unawares and
many people, especially in smaller cities, didn’t
know what to do with this new found
opportunity.
With families becoming nuclear, the financial
decisions are left to the person employed. So,
initially most of us don’t know what to do with
our salaries. One does not have any family
responsibility. So people buy a Bike/Car on
loan, a new Mobile, a laptop and so on….
Read the Book to know how one should Plan during these years...