How much money does one need?

As the January winded itself, so did the time came for the warming of our bank accounts. Most of us were expecting their stipend from the first month of internship, while for some who started their internship in December, it was their second stipend.

Among all the mess that goes on in our life, there is always time for discussing our work-life in the friend circle. We discuss about the technologies we are working on, the projects and the people around us in the company. This previous month and at the start of this month, there has been a lot of buzz about the stipend amount from the internship. While most of us are very satisfied with the stipend amounts and are enjoying the work while bagging immense experience, there are also people who just keep on talking about their desire to become a rich person very soon and how guys at other firms are getting overpaid and would be rich sooner.

About a year ago I read another article on a blog by a senior which was again based on the ‘money matter’. I totally agree with the ideas mentioned there. Based upon discussion with the peers, for a decent living in Bangalore during the internship phase, something around INR 11-12 thousand is sufficient. That being said, it would also include the amount of money spent on weekends. In our 7th semester in college, we had once calculated how much money does one needs in a month in a job for living expenses. We assumed that we will take a fully-furnished apartment on rent and each room will be occupied by one person. Also we added the money spent on weekends. Surprising, it was as low as INR 18-22K a month for one person, which means that we would need some INR 2.7 lacs. Whatever we get over it goes into saving and other luxuries.

Though all might not agree, I personally feel that earning more and more experience and gaining vast knowledge in the initial years of the career is far more important than earning a truckload of money. While we can earn enough money after some 3-4 years also, we need to earn experience and gain knowledge initially. So, finally, as we are all from well-to-do families, whatever money we earn, it is more than enough. 😀

A wise man once said-

It is not your salary that makes you rich, it ‘s your spending habits.

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