Life after salary slashing

A pall of gloom seems to hang over the office! While most department heads have sat with their teams individually, its understandable there is no good way to tell people that your salary has been cut. What i am seeing is that the office seems to have split into various groups....the ones who are taking it all in their stride, ones who are subduded and low in team spirit and others who are downright worried / tensed and increasing worries of others around.

While its understood that economies are static/ crashing etc most people feel that they won't be affected directly. I mean I was sad to know when some of my freinds/old colleagues saw their salaries shrinking or lost their jobs, but I kept thinking this wont happen to me.

As i have also been going through some personal finance research over the past month I have realised the value of long term planning! I am working for nearly 7 years now. If I would have worked on a financial plan from day one, I would have an substancial bank balance and a healthy savings plan today. Whereas I am living on a salary to salary basis today. Off course i have no one to blame but myself as i have been lazy & indisciplined.

As I had written earlier, that seeing the aegon religare ad, made me realise that cost of living / inflation is going to make such a huge difference in the future. In fact when i spoke to the aegon religare representative, he pointed out that i didn't have any fall back plan at all. other than mandatory PPF / insurance policy. Her I also have to be honest to say that if our economy wouldn't be in a crisis, I would still have been indiscreetly spending and putting off financial goals for later.

Probably amongst all this gloom & depression, the positive fallout is that people like me (and others off course) have woken up from slumber. And realisation has dawned that its only we ourselves who can make a difference. Yes financial planning requires knowledge, (or guidance from a proffessional), commitment and most importantly self discipline. Thirty years down I would want to be independent and finacially self sufficient. And only I can do it for my self!

Some flowers to cheer myself up!