During this time of the year, many salaried employees receive a major amount as bonus or ex-gratia or performance incentive. The period also coincides with the festival season. Most people spend this amount on purchases like a car, white goods, jewellery, etc, as it is considered auspicious to buy such items in this period. Some spend lavishly on gifts to near and dear or for religious rituals.
Some spend on extravagant vacations. No doubt, people derive much satisfaction by spending the amounts instantaneously. For such people, it is advisable they save some amount for rainy days. It is necessary to secure your financial future.
Text: Business Standard
Images: AP/AFP/Reuters
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