I have purchased this a trimmer which costed me of Rs. 1,199 in Amazon 5 years ago. I will tell you why I have chosen 5 Years in later of this blog, there is a reason for it . I am a Software Engineer and I don’t need clean shave everyday also many people don’t require to clean shave in their job or business. Even if they do that they do once in a week on an average. Let’s ask our favourite ChatGPT.
During the time of Covid almost all of us to fear of going to Salon and ours only live saver was these trimmers. We used to trim our beard or leave like that for weeks because of lock down no plans to go out. Even we learnt to cut our hair ourselves by looking at two mirror one in front and one in the back. Now the situation becomes normal again we started going to Salon again.
In cities like Hyderabad where I live, charges Rs. 100 – Rs. 400 for a shaving at a Salon depending on the area you live in and the Salon or Barbar shop you choose to go. I am not counting here for a Hair cut because it’s difficult to have our hair cut.
Let’s have a simple math to calculate how we spend on a shaving or trimming in a month considering you go once a week and we consider the lowest price point which is Rs. 100 per week. If we multiply with 4 considering 4 weeks in a Month we spend almost Rs. 400 a month. Let’s multiply this number with 12 which comes to Rs. 4, 800/- per year multiplied by 5 which comes to Rs. 24,000/-. It’s a huge amount for a middle class family.
You can download this excel sheet where I gave full break-up of our calculation.
You may say if we think like that we can’t spend on anything. Again I said earlier we are not including Hair cut which adds up another Rs. 200 per week which comes to another Rs. 2,400/- per year. Because everything we can’t do by ourselves. When there are alternatives we must use it to save it. Let’s come back to our calculation.
In fact I haven’t consider the inflation today Rs. 100 will be Rs. 106 next year if we consider the average inflation in India is about 5% – 6% per annum. If we consider the inflation then the amount will be much much higher.
Now let’s talk about how we must have earned Rs. 32,999 in 5 years.
Let’s consider the average Rate Of Returns (ROR) on some simple investments. Let’s ask our AI friend ChatGPT on this.
| Investment in 5 Years | Mutual Funds (8%) | Stocks (12%) | Stocks (16%) |
| Rs. 24,000 | 29586.68 | 32994.55 | 36899.73 |
Even if we consider the lowest financial instrument which Bank FDs which is at 6% Per Annum you must have saves Rs. 28,047.55. Do remember we haven’t considered the Inflation into account. Not only that if we invest in Financial Instruments like National Saving Certificate (NSC) at Post Office which give around 7-8% on an average which you can claim under Income Tax Under Sec 80C and further you can save more.
I have chosen 5 Years because I personally used this Trimmer from MI which is rechargeable and I used it for 5 Years without any issues. There are plenty of trimmers are available you can consider for less but the point is if your lifestyle doesn’t need daily clean shave you must consider this trimmer.
Not only just this trimmer there are many other simple things if we replace in our daily life which will give you good amount left in our pocket. We as a middle class are the backbone of the Indian economy, we are the ones who pay more taxes, at the end we are the one who suffers a lot financially, just because of our life style. We are middle class but we think our life style is of rich.
Changing small habits can make us to crack the ladder to go rich.
Happy Middle Class and Be Proud of It.
Disclaimer: The views and information shared in this article are based solely on my personal research and experience. They are not intended as professional financial advice or recommendations. Readers are advised to do their own due diligence or consult a certified financial advisor before making any investment decisions. I am not responsible for any financial losses or outcomes based on the information provided. Also, some links in this article are Amazon Associate links, and I may earn a small commission if you make a purchase—at no extra cost to you.