Monday, April 13, 2009


Yesterday I went to meet few of my ex colleagues over lunch at a city restaurant.There I got to know of something which I thought I must share with all of you. There among others, I met Anil Surve. While talking to him , he told us that he had recently bought a house for himself. Everyone congratulated him , but, I was pleasantly surprised.He was asked by someone as to how did he manage it considering that he had started working only 4 years back. While 4 year is a good time to save money , it certainly wasn't enough for most of us. Most of us were still struggling to save anything which could be called sizable by any stretch of imagination.Here he had bought a house for himself. Just buying a house in itself was such a big deal, on top of that what really was most impressive was the fact that he had paid 11 lakhs as down payment out of his own savings for a flat of Rs 30 lakhs. That was quite a sum for most of us.
So how did he do it ? He could do so because of a unique habit or way of life that he had developed . He started his career with one of the PSUs and after working there for a while moved to financial services MNC.He used to get salary from his first job at PSU in a salary account and after joining the new company his salary account changed. After a while he lost the ATM PIN (by chnace or deliberately , no one knows)for the bank account where he used to get his salary from the financial services MNC. Thus all the money from salary and incentives he earned at his new company remained in his new account. he could not withdraw anything out of it because he had lost his PIN number. Off course he could have got a new PIN , but the fact that he didn't get one , is remarkable. In the meanwhile he managed his day to day expenses from his savings from his first job at the PSU(Public Sector Undertaking). Also the fact that he stayed with his parents and was single meant that he didn't have too much to spend every month.
All this resulted in quick and healthy savings for him enabling him to pay off 11 lakhs as down payment for his brand new house where he can move after getting married.Thus he had become a millionaire at such a young age, a feat we all dream of achieving.
This is an inspiring tale and it forced me to think of "saving" being a matter of habit and discipline rather than anything else. I am not advocating that you too should do the same , but, I think sometimes such radical ways can go a long way in inculcating a habit of saving in all of us which is so very important.

If you too have similar stories to tell, please share it with us. Would love to hear from you.

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