Spend after saving, not the other way round
The new budget may not be populist but it does put more money in your pocket -- to spend or invest.
What will you do?
Would you purchase an LCD or would you rather invest it for the future?
We asked you, our dear readers, what you'd do with that extra money and this is our first response.
Niharika Tripathi writes in:
We should save the extra 50,000 or whatever amount one can save.
As it is good for us and for nation's economy as well.
And this steps was taken specially to encourage household savings only which will benefit to all.
Spending that extra amount is not a good idea and this is a golden opportunity to secure your future rather spending unnecessarily today as life style expenses.
Many people wasted their hard earned money on showcase their life style.
But we should follow the concept of "Spend after Saving" not "Save After Spending".
I am a IT professional and I am definitely going to increase my savings for future or for any mishaps where I will need it much more then spending today when I am able to afford a comfortable (not luxurious) life with my current expenditure.
Tell us what will you do with the extra cash in your hand? How will you take advantage of finance minister Arun Jaitley's maiden budget?
Send us your responses to firstname.lastname@example.org with subject line (Saving and Investing) and we will publish the best ones on Rediff.com!
Illustration: Uttam Ghosh/Rediff.com