How increasing earning and wealth have made personal financial decisions truly 'personal'
We were talking about how things have changed for the better, with many middle-aged people making independent choices about their lives, time, money and interests. The conversation shifted to social media posts that show middle-aged people learning music and dance, art and sport, and about how they travel and tour, feeling free to pursue their old and new interests.
As is my wont, I see all of this as some measure of easing up with money. It takes a sense of security about money to let go of fears, apprehensions and worries about the future, and focus more on the present. There has to be a shift from scarcity mindset to generosity mindset to be willing to spend, to be positive about new things and focus on oneself without guilt. There is enough for everyone; everything is plentiful now and shall be in the future; and there is no need to suffer and be a martyr. That feeling is liberating.
There have been several positive outcomes for the common man, for his income and financial security after the opening up of the economy and a shift to capitalistic model, gradually in the mid-1980s, and significantly in 1991. The dramatic impact we see around us today has been due to the traction this liberal view of the world enabled over the many years hence.
Personal finance has become quite personal, as it rightly should. My friend and his wife have a detailed pre-nuptial agreement. They do not want to access or inherit each other’s wealth. They understand their mutual needs, complementary roles and expectations. There are
