Stretched Thin: Living Within Means

Bengaluru resident Sanchita Guha (26) works in an IT firm and draws a fairly good package. However, at the end of every month end she is always running out of cash. In a routine fashion, the credited salary gets exhausted almost by the mid of the month after paying all the bills, EMIs, insurance premium and credit card payments. The next month, the same viscious cycle continues. Guha’s case is a classic example of paycheck to paycheck living. It is an ailment that not only plagues youngsters who have just started working and are not seriously thinking of their financial future, but just about anybody. Leading such a life might seem very common and is also the subject of many social media memes, but it comes with some serious risks. In fact, it is much like a quicksand  pit escaping from which becomes  quite a task. The risks associated with such a paycheck to paycheck...