Financial planning: Curious case of Murli’s free-for-all purchase plan
Each person has his or her own unique style of planning and a unique perspective to managing money. Whether it is effective or not is not really the issue. The style and methodology is what is intriguing.
Once I met one Mr. Murli. There are two things that Mr. Murli always wants to do whenever he considered any financial decision having a cost value of above Rs 20,000. Here are the two conditions that must be fulfilled before he buys anything.
He would only spend if he had amount in cash. Now it does not matter if he is buying a car or house or diamonds or gold jewellery or TV or just about anything. He will only spend if he has the money to buy it in cash. This is quite normal as many people do not like loans so there is no big deal about this. But his second condition is something that most people would never imagine.
For Mr Murli, whatever he spends above Rs 20,000 should be