In Short:
Vivaan and Mairaa, a couple with normal jobs, are urged by their parents to buy a bigger flat, quoting SRK’s advice. Mairaa, who understands personal finance, explains that stretching financially for a bigger house isn’t feasible. They discuss controlling home loan decisions in an unpredictable economy, prioritizing loan prepayment, and the pressure from family to show off possessions rather than financial investments.
A Heartfelt Conversation Between Vivaan and Mairaa
Vivaan, a junior-level manager at a fast-moving consumer goods company, was on a daily video call with his mother. As the conversation flowed, his mother raised concerns about the space in their one BHK flat.
Vivaan patiently explained how they would manage when visitors come and where everyone would sleep. Even though the conversation steered towards the future and having children, Vivaan kept his cool and avoided certain topics.
After handing the phone over to Mairaa, Vivaan went to the kitchen to make coffee. Mairaa, who worked in the IT sector, engaged in a light-hearted chat with her mother-in-law, discussing their love for Shah Rukh Khan (SRK) and recent interviews they watched.
Learning from SRK
Mairaa’s mother-in-law shared a valuable piece of advice she picked up from an SRK interview. The essence was to aim higher when buying a house, beyond their current means, to encourage hard work and God’s blessings.
As Mairaa and Vivaan deliberated over the idea of upgrading to a larger flat, financial constraints posed a challenge. They pondered over the practicality behind the advice and the feasibility of stretching themselves financially.
Navigating Personal Finance Challenges
The couple discussed how actors like SRK leveraged various income sources to afford lavish properties, unlike typical corporate employees with limited salary growth. They analyzed the impact of inflation on home loan rates and the importance of controlling controllable factors.
The conversation delved into strategic financial planning, highlighting the significance of manageable debt, savings, and investment choices in achieving long-term financial stability.
Family Influences and Realizations
Reflecting on societal pressures and family expectations, Mairaa and Vivaan shared insights on managing familial demands, investments, and personal financial goals. They acknowledged the complexities of balancing personal aspirations and societal norms.
As they sipped coffee and exchanged thoughts, they navigated through the complexities of personal finance, family dynamics, and the aspirations for a secure financial future.
Vivek Kaul is the author of Bad Money.
