I’m curious to know when you became aware of the “realities of life”. I’m referring to things like the actual “cost of living”…
When did you figure out how much the following cost:
owning/renting a home
owning a vehicle (including maintenance and repair costs like insurance, fuel etc.)
groceries
utilities
eating out and entertainment
clothing and grooming
I find that a lot of girls from our community live sheltered lives and rarely, when questioned, would be able to give you an idea of these costs until such time as they are married and living with their hubbies. Some of the guys in the same category are better versed. Is that good or bad? I’m not sure but I’d like to read your thoughts…
actually it wasn’t…it may have come across as being directed to girls but I didn’t mean that to happen so thanks for your answer…
to your answer: what was the reason for this? why did you come to know at that age? was there a driving need for you to become involved in the household finances? did you take on certain responsibilities at that age?
i knew that money is hard to earn and doesnt grow on trees probably at age 10. how about how much cars, homes, education etc is costly, probably age 12-13
23, when I moved out of the family home and into another country. Now admittedly, I was the only person living in the family home, but not having to pay for accommodation and utility bills really distorted my image of the costs of life.
i was always fiscally responsible was aware of the financial situation and the challenges faced by teh family. been involved in managing house finances since early 20’s.
i knew that money is hard to earn and doesnt grow on trees probably at age 10. how about how much cars, homes, education etc is costly, probably age 12-13
knowing that something is costly is one thing......my 10 year old knows that......but actually understanding what it would cost to "live" a life....is a different matter.
at the age of 12-13 did you know the exact amounts?
did the realization of the cost of living have any impact on the career that you chose for yourself?
or did it have some influence when you short-listed?
At 15 - when my family moved to Canada. I had very little idea back home... although back home sometimes I would catch a sentence or two about married women in the family who frequently complained about not having enough finances and then the people gossiping about this used to mock them laughingly (behind their back) that what nonsense, everyone is facing the same mehngaai/rising cost of education/not enough salary raise/etc but hum bhi to karte hain na itne main guzaara. They used to say not everyone is good at managing their family's budget well. So I used to wonder even at that age too whether it was really those women's fault or were the issues real.
did the realization of the cost of living have any impact on the career that you chose for yourself?
or did it have some influence when you short-listed?
Yes, for sure!
I have always had a passion for teaching. But I am good with numbers so in the end, I chose the corporate world and I'm not sorry I did. I wanted to be able to make a difference in my parents' life for as long as I could.
That being said, years down the road, teaching is always an option if I ever choose to do so. =)
Same here. When I left home for University at 18, I learned pretty quickly that I had to budget my dwindling savings and buy absolute necessities, unlike some of my fellow classmates who lived it large on borrowed money.
By the principles my parents taught me, I have never borrowed not a single paisa (for which I am thankful for God & my parents).
I ca n’t pinpoint exactly but I guess it was after we started living together. I still had an “idea” of the cost of rent and utility bills, cz I would browse apartment listings dreaming about my future home, and when my dad wasn’t around I would write the utility checks (no online bill pay in those days)…groceries and stuff after we moved in together and I was in charge of the kitchen-y stuff. Heck, even now I keep realizing new things about how my parents ran the house when I was younger, ex/ I had no idea how much they would spend on groceries in those days…AND sinc ethey enteretained often, they bought alot of meat. our budget is probably 1/4th of what my parents’ was.
Being the eldest I realized around grade 10-11 so (age 16/17) cost of living/bill/car payment etc, hence I always held a PT job throughout high school and college, I saw how hard my parents worked to run the entire house and I wanted to pitch in somehow or at least not become a total burden on them, I would do grocery with my pay cheques, and mostly pay for my own clothing/cell phone bill, or even put gas in the car not because I was asked but I felt great knowing I could help out, I would also look at the bills that came in the house to get an idea what is costing how much and why? hence my habit of always turning off the lights in room when not being used, or cutting coupons kicked in, alhamdulilah our parents went above and beyond providing the best for us always, and I could've gotten away with not working but felt like being the eldest I had a 'responsibility' I am glad I didn't have a hard time adjusting to my married life financially because being responsible with money when needed came in so handy alhamdulilah.
age 19 - my second year of uni when I started renting my own place privately.
But its only now age 25 after getting nikkahfied and close to starting a new phase of my life that I have learnt the responsibility of saving for the future.
Interesting input from everyone. Sorry I didnt answer the question properly so here's a second attempt. I was always aware of finance and budgeting as 13/14 year old. This is when I'd get pocket money and if I ran out of money before the allocated time period, my mother would ask or if I needed something extra, she'd ask me to save up. So that a little valuable childhood experience. Other than it is quite strange that as a student, I'd be okay with travel, eating and living costs, but the realities of economics would only hit me when I would think about buying things for myself, i.e trendy clothes, make up, going out etc. This is the only time where I'd have moments of 'hold on! money is important so be careful where you spend it'. Other than that I could lead a very simple life but thinking about those things would make feel a little down at times.
was aware of the financial situation and the challenges faced by teh family. been involved in managing house finances since early 20’s.