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Emotional Cost of Your Purchase

Gunjan Suvarna — Mon, 12 May 2025 07:30:48 +0000

Every purchase you make carries not just a financial cost. It also comes with an emotional one. While we think about money in numbers, spending is often tied to how it makes us feel before, during, and after we make the purchase.

Excitement

Before you buy something, there’s always that feeling of anticipation. You imagine how useful, fun, satisfying, interesting, or nice the item will be. This excitement causes an emotional “high” that is so powerful that it overrides hesitation, even when there’s no need to make the purchase.

Instant Satisfaction

There’s a brief moment of happiness when you finally make that purchase. This is what your brain was waiting for. This reward releases a sense of pleasure that may provide relief and satisfaction. Even more, when the purchase is tied to boredom, stress, or discomfort.

After-Thought

When excitement fades, reality sets in. You may question yourself whether the purchase was truly worth it or if you should use the money somewhere better. This is where the feeling of doubt, regret, or guilt will appear, especially if you didn’t plan the purchase.

Emotional Triggers

Most purchases are never purely logical. They are used to cope with emotions like stress, sadness, boredom, and happiness. In these moments, spending is less about need and more about release. Unfortunately, repeated emotional spending creates mental clutter or mental burden. Seeing credit balances, unused items, and ongoing financial stress will add to the ongoing emotional burden that will affect your peace of mind. In the end, all purchases you make are more than just a transaction. They are emotional experiences. If you are aware of this, it will help you pause, reflect, and make choices that will not only support your finances but also your well-being.

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Why Do We Spend Money We Don’t Have?

Gunjan Suvarna — Mon, 05 May 2025 07:29:46 +0000

It’s common for us to spend the money we don’t have. It’s not about having poor discipline. It’s just the way our brains are wired regarding rewards, emotions, and consequences.

Immediate Pleasure Over Future Pain

Our brains are drawn to immediate pleasure. If we buy something new, our brain gives us a boost of positive emotions like excitement, comfort, or relief. That’s not bad, right? Perhaps, if the item doesn’t cost much. But if it’s costly, then the short-term feeling would outweigh the long-term stress of paying for the item later.

Thinking “Just This Once”

The most common mental justification is the idea that spending doesn’t matter because you’re doing it “just this once.” Our brain would minimise one purchase at a time. It will ignore the fact that these small decisions would accumulate over time. This leads to a pattern wherein we believe that spending slowly or seldomly for things we don’t actually need becomes normal.

Emotions Taking Over

In most cases, money decisions are not logical. We spend money because we are sad, bored, stressed, or celebrating. Instead of addressing the emotion itself, we buy stuff to cope. This only reinforces the habit.

Illusion of Future Income

The illusion of future income will cover today’s spending is another strong justification people make. The brain would overestimate financial certainty when there’s an upcoming salary raise, bonus, or side income. This is a false sense of security that often leads to poor financial decisions.

Comparison and Social Pressure

Seeing others spend will make us feel like we should keep up. My brother has a new pair of shoes, so I should buy a pair. Our neighbors went on a vacation, so we should go on one as well. My friends are going to a concert, so I should go as well. This comparison effect would push people to spend beyond their means just to feel successful or feel included.

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When you run out of money, it feels like everything is falling apart.

Gunjan Suvarna — Mon, 28 Apr 2025 07:31:44 +0000

When you run out of money, it feels like everything is falling apart. It causes stress. It causes shame and embarrassment. It causes uncertainty in life. Yes, going broke is overwhelming, but it’s not the end of your life. If you do well, it becomes a turning point.

Going Broke Is Not Your Identity

Financial setbacks may make you feel like a failure, but having no money does not define your worth as a person. It’s normal for any person to go through periods of financial struggle at some point in life. What matters is how you will respond to it and what you do next.

It’s a Force Reset

While uncomfortable, going broke and hitting a financial low will push you to reassess who you are as a person. You will see your habits, actions, and decisions that led you to such a path. You will see how you spent your money. You will finally see what matters. You will know what you need to change. This kind of clarity is difficult to achieve when everything in your life is going smoothly.

Learn Financial Skills

When money is tight, you are forced to adapt. You learn to budget, prioritise, and make smarter decisions. These are skills that will stay with you for a long time. In fact, people who rebuild from nothing tend to become more disciplined financially.

Start with Small Steps

Recovering from financial lows doesn’t happen overnight. It starts with small steps. Cut down unnecessary expenses. Find a new source of income. Slow build financial stability. Progress may be slow, but being consistent will make a difference.

There’s Always a Way Forward

There are countless people who have gone broke, recovered, and succeeded. Going broke will not lock your future in place. Yes, it’s difficult, but it’s not final. It’s just a chapter in your story. With patience, smarter decisions, and the willingness to adapt, you can find a way forward that will help you rebuild your finances and have a more stable foundation.

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Adulting 101: The Costs No One Told You About

Gunjan Suvarna — Mon, 21 Apr 2025 11:03:46 +0000

When we were young, we were excited to grow up because growing up comes with freedom. Little did we know that growing up includes unexpected expenses that adults around us rarely talk about. Beyond the obvious big-ticket items like house, car, wedding, etc., some expenses quietly drain our budget.

Health Isn’t Free

Most people do not fully take care of their health until they are paying for it. Checkups, dental visits, medications, even vitamins and supplements add up. Any unexpected medical issue can easily disrupt your finances, especially if you are not prepared.

Life Conveniences Cost a Lot

Ride-hailing apps, food delivery, and subscription services may feel affordable at the moment. But they quietly stack over weeks and months. They will take a significant chunk of your income. Yes, it is good to live a life with convenience; however, convenience always comes with a hidden premium.

Maintenance and Repairs.

Things will eventually break. Fixing them isn’t cheap. Whether it’s your desktop, phone, appliance, car, or accessory, repairs are inevitable. In the worst case, you may need replacements. They are not planned expenses, which makes it even more difficult to make a budget for them.

Social Spending Can Add Up

Family holidays, hanging with your friends. Birthdays and group dinners come with a price. Individually, the costs may seem manageable. But frequent social gatherings lead to frequent expenses. This can quietly grow into a huge monthly expense.

Work-Related Expenses

Even earning money will cost money. Work clothes, occasional meals, transportation, and minor expenses tied to work can slowly add up. Oftentimes, you would overlook these expenses when calculating your real income.

Upgrades in Life

As we grow older, we naturally want better things. Skincare, gadgets, or personal improvement tools will increase your spending in ways you might not notice. Adulting isn’t just about handling big responsibilities but also managing the constant flow of small, unexpected costs. Being aware will help you plan better, spend smarter, and avoid wondering where your money went.

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What are Life’s Most Expensive Milestones?

Gunjan Suvarna — Mon, 14 Apr 2025 07:06:44 +0000

Our lives are full of meaningful moments. Unfortunately, they come with a significant price tag. From early adulthood to later years, there are certain milestones that are considered the most expensive. Understanding these can help you prepare.

Education

The first major expense in life is education. Whether it’s college tuition, post-graduate certification, or training, the costs are staggering. Student loans, living expenses, and job-hunting costs often follow. This makes this stage in life financially demanding, especially if income is yet to stabilise.

Buying a House

One of the biggest financial commitments a person would make in life is to buy a house. Aside from the purchase itself, there are other ongoing costs like insurance, maintenance, and property taxes. Yes, it is a long-term investment, but it requires careful planning to manage it properly.

Getting Married

Another important and costly milestone is getting married. It can range from simple weddings to large and elaborate ceremonies. Costs would include venues, catering, attire, photography and videography, keepsakes, and honeymoon. Without a clear budget, weddings can easily lead to a long-term financial burden.

Raising a Family

Starting a family and raising kids would introduce a new level of expenses. From daily needs like food and clothing to healthcare and education, the costs of raising kids would increase steadily. Planning will ease the financial burden involved in raising a family.

Aging and Retirement

Retirement itself is a huge milestone that requires years of preparation. Most people won’t have a steady income during their later years in life. This is why it’s important to prepare savings that will cover daily living expenses, healthcare, and lifestyle needs. The earlier you start planning, the more secure your retirement will be.

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Is It the Right Time to Get a Mortgage?

Gunjan Suvarna — Mon, 07 Apr 2025 07:04:31 +0000

It’s hard to find the right timing with the housing market. It’s very volatile. It constantly shifts between optimism and uncertainty. Because of this, aspiring homeowners would ask the question – “Is it the right time to get a mortgage?”
Unfortunately, it’s not a simple “Yes” or “No”.

How Ready are Your Finances?

Look at your own finances before worrying about market conditions. Do you have a stable income? Do you have manageable debt? Do you have enough savings for a deposit? If the answer is yes, then you are already in a strong position. You can confidently move forward regardless of market timing.

Market Conditions Can Change

Market conditions and housing prices can easily shift at any time. Waiting for the perfect moment may backfire because prices may increase or competition may arise. Instead of predicting the market, it’s best to act when you’re financially ready.

Consider Long-Term Perspective

A mortgage is a long-term commitment. It can last for decades. Therefore, short-term market changes would matter less over time if you are planning to stay in your home for a long time. What feels like a less-ideal situation today may be better in the far-off future.

Evaluate Your Goals?

Your motivation or goals will play a huge role in timing or the decision to buy a house. Are you buying it for investment? Is it for changing your lifestyle? Or, do you simply want to have a stable home? For instance, if you are planning to start a family and raise kids, waiting for the perfect time is not the best choice.

Prepare to Adapt

After securing your mortgage, your financial journey won’t end there. Markets will evolve. Homeowners may refinance. You might have to adjust your strategy over time. Flexibility helps in making the most of your decisions.

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Common Mortgage Mistakes That Could Cost You A Lot

Gunjan Suvarna — Mon, 31 Mar 2025 06:01:46 +0000

When it comes to saving money on mortgages, people tend to focus on interest rates. It’s not wrong, but it’s not the only important thing to consider. In fact, most of the costly mistakes don’t have to do with interest rates at all. It is these mistakes that will drain thousands from your budget if you are not wary of them.

Buying A House That is More than You Can Afford

The biggest mistake in house purchasing is buying one that is at the very top of your budget. Just because you’re approved for a certain amount, that doesn’t mean you have to spend it all. Overextending your budget will cause financial stress, especially when unexpected expenses appear.

Ignoring the Other Costs of Homeownership

The monthly mortgage payment is not the only cost of homeownership. Insurance, maintenance, property taxes, and possible association fees can significantly increase the cost of homeownership. Many tend to underestimate these costs only to struggle later on. If you’re taking a mortgage and buying a house, always include these potential costs in the calculation before making a decision.

Not Comparing Lenders and Fees

The most common mistake of borrowers is to accept the first offer they receive. Doing so may make them miss out on better deals. Each lender has different service charges, processing fees, and loan terms. These small differences can easily add up. Therefore, shopping around and comparing options is highly advised if you want to save money.

Ignoring the Fine Print

Mortgage agreements often include terms that borrowers do not understand. Terms like prepayment penalties or refinancing restrictions may confuse the average person. Ignoring these details limits flexibility and could cost the borrower later on. It’s always important to take the time to read, ask questions, and seek professional advice before signing anything.

Making Big Financial Purchase or Changes Before Closing

Making large purchases, taking out a new loan, or switching jobs before finalising a mortgage may risk approval. Lenders prefer their borrowers to be financially stable. Sudden changes in the financial situation will only delay or cancel the loan. It’s best to keep finances steady until the loan is finalised.

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Which Saves You Money? Fixed or Variable Mortgages

Gunjan Suvarna — Mon, 24 Mar 2025 05:55:53 +0000

Choosing between a fixed and a variable mortgage isn’t a simple decision. It can easily shape how much you pay over the life of your loan.

A fixed-rate mortgage locks interest rates for a set period of time. This means monthly payments stay predictable. You are confident that no matter what happens in the market, your monthly payments stay the same. This stability would bring you peace of mind. You’ll know what to budget and how to manage your debt. You are protected if interest rates rise. Of course, there’s a trade-off. Fixed rates are usually higher. In other words, you pay more up front compared to variable options.

A variable-rate mortgage fluctuates with market interest rates. When rates are low, you enjoy lower monthly payments. Therefore, you can save money faster. Generally speaking, variable mortgages have always been cheaper in many markets. However, they come with risk. If interest rates spike, your payments would increase, sometimes significantly. This makes budgeting more challenging.

So, which one actually helps you save money?

It depends on the timing as well as your risk tolerance. If the market has a low-rate period and stable rates, then you will pay less with a variable mortgage. However, when rates climb, the money you could save disappears. Fixed mortgages may cost more, but they can serve as insurance against rising rates and a volatile market.

At the end of the day, there is no “better” option. It always depends on your decision. If you value predictability and don’t want surprises, a fixed mortgage is the right one for you. If you’re willing to gamble and take the risk to save money, then a variable might work for you.

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Lifestyle Inflation – The Quiet Money Trap

Gunjan Suvarna — Mon, 17 Mar 2025 10:50:35 +0000

Wanting to have a better quality of life as income grows is a natural thing. Having a new and better apartment, upgrading your gadgets, travelling and dining out more often are seen as well-deserved rewards after hard work and when your career progresses. Unfortunately, savings and financial goals will quietly stall when your spending rises just as quickly as your income. This is what you call lifestyle inflation.

What is lifestyle inflation?

Lifestyle inflation is the phenomenon wherein you increase your discretionary spending as you increase your earnings. Instead of using their increased earnings to strengthen their financial security, there are people who would expand their current expenses just to match their current income level. Eventually, this leads to a bitter cycle wherein their higher pay does not translate to actual wealth.

Why do people fall victim easily?

People fall prey to lifestyle inflation easily because of advertising, social pressure, and comparison culture. When peers upgrade cars, homes, or travel and buy new stuff, it would feel normal or necessary for them to follow suit. Small recurring purchases and upgrades may seem harmless at first, but eventually they add up significantly in the long run.

Long-term consequences

Indulging yourself in lifestyle inflation would only delay financial progress. Your retirement savings, emergency funds, investment accounts, and the like will not grow or grow slowly. If income drops due to unexpected expenses or job loss, maintaining a high-cost lifestyle becomes difficult.

How to stay in control?

Avoiding lifestyle inflation doesn’t mean avoiding the nice things in life. Instead, it’s best to be intentional and mindful of your expenses. Allocate a portion of your income to savings and investments first before adjusting your spending. Having a prioritised financial goal helps in making sure you don’t fall prey to lifestyle inflation.

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Is Investing in Gold in 2026 Worth it?

Gunjan Suvarna — Mon, 10 Mar 2025 10:49:07 +0000

Whether you agree or not, the modern world is shaped by the current economy. With changing economic shifts, inflation concerns, and global uncertainties, people may ask, “Is investing in gold still worth it?”

For a long time, gold has been considered a symbol of wealth. It has maintained its reputation as a secure and stable defensive asset. However, with the evolving market of today, as well as the new investment options, is it still a smart move to invest in gold? The answer depends if you understand the benefit, role, and limitations of gold.

What makes gold valuable?

Unlike paper currencies, gold is a tangible asset. You cannot print gold, and you cannot create it artificially in large quantities. This scarcity supports gold’s long-term appeal and its perception as a store of value.

Gold is an Inflation Hedge

The strongest advantage of gold is that it can serve as a hedge against inflation. Gold can retain or increase its value, even if the purchasing power of money declines. Therefore, even if the living costs continue to rise, gold can provide financial protection.

Diversifying Portfolio

While stocks and bonds may move in the same direction, gold may not. If bonds and stock prices fall, gold prices may remain steady or increase further. This is why gold can reduce overall portfolio volatility. It can offer balance when your other assets fluctuate.

Current Market Condition

Gold prices are influenced by global events, central bank policies, and interest rates. Gold is more attractive with lower real interest rates, while attention may shift to income-producing investments when higher interest rates shift. Always monitoring economic trends is important before you increase exposure.

In conclusion, gold remains a relevant investment in 2026. It helps diversify your investments and protect against uncertainty. Though it doesn’t generate income like stocks or bonds, it’s stable and resilient, making it a valuable component for a well-balanced financial portfolio.

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