In my meeting with people and talking about money I get to hear the following nonsense about their attitude to money. I see some of these actions – and amazing rationalisations to justify their actions. Stunning.

1. I gave up my medical insurance which we have been paying for 14 years: And this person does not have a very big kitty to fall back on or very successful children on whom they can fall back. When I asked why..she said ‘I do not think anything will happen to us’ – so why waste Rs. 37000 a year on medical insurance?
2. I had some money lying in the bank so I bought a ULIP. No further explanation.
3. ‘Subra, IRDA has now made ULIP cheaper and better. You must have a look afresh. Your views are stale’.
4. When I need money I remove money from the fund giving the best returns – after all this is a nice way to book profits.
5. ‘Subra I removed money from ‘Xyz fund’ – i remember we had done it for RETIREMENT. She is 52 years old.
6. They ‘gift’ or ‘loan’ money to ‘well off friends’ for a ‘MONTH’ and with no paper work at all.
7. They quit their jobs and go to a Grad school WITHOUT A BACK UP plan.
8. They go to a GRAD SCHOOL to escape taking up a job.
9. They fund their kids MBA knowing fully well that the college and degree are both useless if not done well.
10. They think and rationalize a home as a good investment.
11. They choose mutual funds on their own, but invest through their bank website.
12. They have no clue about the price that they pay for the financial services that they need/ use.
13. They invest in schemes because of the FEAR of missing out. When a salesman says ‘this scheme is closing…on..’..chill.
14. When the credit providers call, they close their eyes and ears and do not take their calls WHEN THEY OWE MONEY TO THEM
15. They keep money in bank FD and take a housing loan because of ‘TAX BENEFITS’
16. They invest in NPS because of the extra Rs. 50,000 80C deduction

and there are more….this is an unending list like Hanuman’s tail….so lemme stop…at sweet 16.