Selling a financial plan to an incorrigible shopaholic
My friend Angelina likes life throwing surprises at her …obviously the pleasant ones. Planning for eventualities was never there on her radar.
A chance meeting with her, and I could guess her life was all about shopping, dinning and enjoying.
I asked her, “How are you prepared for your daughter’s higher education?”
On this she shot back, “What is there to be prepared about? It will happen and it is good two years away.”
I knew this coming from her, so I wasted no time in apprising her that how important it is to be well planned with your expenses, savings and investments so that you remain worry free when the time comes. After giving me a patient hearing, she was ready with her volley of questions.
Sample this: “What will happen to my weekly ‘Mall’ ing sojourns? What will happen to my gifting sprees? What will happen to my annual vacation? How will I fulfill wants of my ‘fashionista in the making’ teenage daughter?”
I could sense that she would find it difficult to scrutinise her earning, micromanage her expenses, maintain the account of where and on whom she has spent during the month, which was the first step towards financial planning.
It was just too much to ask from ladies like Angelina. But I was determined to put her money to better use, and so I planned to meet her again.
We met over dinner at a sports club in the vicinity. I had come
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