The role of DESIRE in your financial well-being!!!

The role of DESIRE in your financial well-being!!!

The role of desire in your financial well-being!!!

05th July 2021

If you’ve good income and no desire to impress your neighbors, you’ll get rich pretty fast- D muthukrishnan


Husband: – Look at the people next door they just bought a new car, looks good, doesn’t it.

Wife: – Pretty good, Looks expensive though.

Husband: – You know we could use a new car too.

Wife: – What’s wrong with the old one? Works perfectly fine for us.

Husband: – The old one is just not up to the mark these days, besides look at the deals, they are offering on the new models.

Wife: – I don’t know, we have a bit of expense coming up, don’t you remember we agreed to save money to put towards a fixed deposit for future needs.

Husband: – Yeah, might be worth a visit to the showroom though.

Later that day

Husband: – Hey, I went by the HONDA showroom after work was really impressed by all the new features the car has to offer, planning on taking a loan out to buy it, besides it has good financing options and discounts if we get it booked by the end of the month.

Wife: – Don’t you think your decision might be a little rushed, considering you weren’t even thinking about buying a car a few weeks back and now you suddenly want one because the neighbors bought a new car.

Husband: – I heard that the neighbors were planning to take the car on a road trip. After we buy it we will go on a trip as well. After all, a ₹ 20 lakh loan is nothing we will pay it back in 4-5 years.

Wife: – Shouldn’t we think about our future first, I mean can’t we buy it after we saved up a bit of money for it. What if there is an emergency, we would be very tight on cash after the EMI payments.

Husband: – I really want to go ahead with it, my friend also recently purchased the model and says that he has been getting compliments from all his relatives ever since.

Wife: – Is your friend going to help us if we need money in the future.

Husband: – You know what I made up my mind, I want to go ahead with this.


You might have experienced a conversation like this at least once, in fact, more than 85% of car purchases are financed.

In contrast to popular belief, desire or wanting material things is not a bad thing, when taken in the right spirit it helps us to grow, learn new things, make more money and even work harder to achieve a goal.

Let me explain this in a bit more detail: –

When the desire to buy things arises, just because your neighbors or friends own them it, almost always is a bad idea. Most of the time people don’t think about the lasting consequences that it would have on their financial health before making a BIG ticket purchase like this.

Second point, when you buy a depreciating asset like a car whose value is going to go down the minute you drive it out of the showroom with borrowed money from the bank (who you are going to pay more than what you borrowed in the first place i.e. Interest + Principal on the loan) as you can see this is a recipe for disaster.

Lastly, buying things that you don’t need with money you don’t have will end up destroying your wealth.

3 ways to help you overcome Desire   


1) Live well below your means: – When you reach a decent level of comfort, STOP upgrading your lifestyle to the point where all your income goes towards supporting your living arrangements and you stop saving and investing.

Living below your needs affords you the flexibility of many things, most important of them having the means to do what you really like and leave the 9-5 rat race that people seem to be stuck in.

2) Curb the need to impress others: – The need to impress your friends or neighbors doesn’t bode well over the long term. This doesn’t have to be the case.

Payless attention to what the people next door are doing and more attention to what is going on in your own life. You want to know a secret, people really don’t care that you just bought something new they probably wake up the next day and end up forgetting about it.

While the loan that you took out to finance the purchase still hangs above your head.

3) Appreciate whatever you currently have: – Learn to appreciate the life that you currently live. Most people can’t afford the luxuries that you take for granted. Remember nothing is permanent, enjoy while it lasts.




The need for Social approval is a very strong motivator for oneself. This can either be in a good or bad way. (Your choice)

The problem arises when people let the need to own new things get ahead of them.

You are better off not putting yourself through debt in the form of loans just to impress people who probably didn’t care in the first place.

Simple life and having control of your time are far greater than any material possession that you own.






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