The grand daughter of our domestic help completed her graduation recently.The lady took a lot of pains to bring this girl to graduation level.She toiled day and night and was very happy when this girl passed out with good marks. The girl soon got employed in a company with a good starting salary of around 16000 rupees a month. The Grandma was naturally very happy.But this didn’t last long as the girl started feeling that the salary was low and started telling her grandma that she wanted to look for a better option. The grand ma started telling me again to help her again as I had given a lot of leads earlier about job openings. I wanted to talk to the girl and so I called her. After the initial queries , I asked her about her present salary structure and honestly, I felt for a graduate beginner the compensation was good.Then I asked her what she was doing with the money hoping that she would have faithfully given it to her grandma .But she replied that in the 5 months since she started to earn she has given around 25000 to her. I continued to question her what happened to the remaining amount which was quite substantial she was unable to account for the same but for some stitchings here and there.Out of the remaining amount of Rs 60,000 she could recollect expenses of only 20,000 and the remaining though she was sure that she had spent but was unable to recollect.This is the case of a young girl who has just started to earn.

Why I am narrating this incident here is money will come into our lives sooner or later but we should be aware of the arrival.We should make use of every rupee in an appropriate manner in tune with our goals we set in our life. Here the process of account keeping for our income and expenses becomes very vital. All inflows like salary, bonus, contributions by other family members etc to be properly accounted as also every payment leaving us should be recorded. At the end of the month, the inflow and outflow must be totaled and tallied. Here I would like to highlight that the practice of account writing should be enjoyed realizing its importance and not as an unpleasant exercise. All amounts spent beyond a cut off amount say Rs1000 should be focussed upon and  we should be satisfied that such expenses have been incurred fruitfully.


Benefits of account keeping and how to go about it, how to plan for saving? All these and much more…soon.