Why Are Indians Always ‘Money-Centric’?

Nothing in this world is free. The Barter system was a simplified means of exchange until ‘Money’ came along in the form of paper currency and metal coins. In the modern-day, every good or service comes with a price tag. So, we understand that we need ‘money to live’. On the other hand, some are ‘living for money’. It is a fact and Indians are no exception to it.

There are various categories of such ‘money-centric’ people:

  • Spendthrifts;
  • Hoarders;
  • Misers

Anything ‘too much’ of the above categories is harmful to one’s survival. A Study by Hal Hershfield (Assistant Professor of Marketing at the University of California) found that people who can more vividly imagine their future enjoying a new house or a new car are better at saving. In short, money assists you to derive happiness from worldly things.

Money – a destructive power: Although the general public would put it, ‘money has the power to correct our past, drive our present and decide our future’, the importance received by it today is undoubtedly, destructive. Man has ended up admiring the ‘green buddy’, rather than spending time with loved ones. The breadwinners of most of the families have gone from being a ‘family man’ to a ‘businessman’. We may argue saying that ‘money is essential’. But, the real question to be addressed is, whether we acquire things out of ‘necessity’ or ‘greed’?

  • Indians being ‘money-centric.’

Our nation has left a mark in making history throughout the years. Indians have become obsessed with money. Despite implementing various Laws (like the Prevention of Money-laundering Act, 2002 and the Foreign Exchange Management Act, 1999) and other legal measures (like demonetization) to curb unlawful and unethical means of making money, Indians always managed to find a loophole and escape with the same. Finance is considered as a lifeline to any business. Even that is questioned today, considering the intention and motives of the person introducing finance to the business. When not handled properly, money can influence a person in ways, more than one.

Possible reasons for Indians to be ‘money-centric.’

  1. Lack of knowledge of ‘simple lifestyle’;
  2. Lack of knowledge of ‘proper utilization of money’;
  3. Demography;
  4. Corruption;
  5. Ignorance of education and health.

Social status

Some notable instances of Indians being ‘Money-Minded.’

  • Big fat Indian Weddings!

What a better place for a get together other than the Indian Wedding Ceremonies! Sadly, the main focus nowadays is on the show-off of money, rather than the union of two individuals and their families. The cost of holding an Indian wedding ceremony can range from six to ten lakhs, that significantly increases the average value of the wedding. Reportedly, every Indian spends one-fifth of his total accumulated wealth on his wedding. As of the current date, the most expensive Indian wedding was that of Isha Ambani and Anand Piramal in 2018, with the cost totalling to Rs. 724 crores.

  • Forming opinions about a person based on his bank balance

Money is required to survive and not to be judged by a fellow person. There is a well-known parable about the ‘teachers of the law’ and the ‘poor widow’. The teachers of the law made a big show when they were putting their gifts into the temple treasury. A poor widow, on the other hand, had only two copper coins in her possession, which she had put whole-heartedly. In today’s world, bank balance do not determine the character of a person. If you happily give what you have, then this act is considered excellent. Most of the Indians fail to do so and prefer to get associated with ‘like-banked’ people.

  • Dowry System

The practice of Dowry is illegal in India since 1961. This very practice leaves women weak and prone to domestic violence and in extreme cases, even death. A controversial incident had taken place in Kerala in May 2020, wherein a 25-year-old woman died of a cobra bite. The news reports state that post-marriage, there were problems between the late woman, her husband and in-laws over Dowry. Situations like these make us question whether marriages are based on ‘money and material things’, rather than ‘trust and understanding’.

  • Choosing a profession

Few of today’s children are encouraged by their parents to opt for a profession that will earn them humongous income, rather than pursuing their passion. Forcing children to venture into an area of no interest will produce not only poor results, but also present incapable professionals to the country, which further leads to non-productivity of the nation.

Latest scenario- Sushant Singh Rajput’s Case: Rhea Chakraborty’s Attempt at Money Laundering

Amidst the heated on-going murder case of the late Bollywood actor, Sushant Singh Rajput, the Enforcement Directorate (ED) has lodged a money laundering case against Rhea Chakraborty and her family members for allegedly spending Rs. 15 crores from the late actor’s bank account. It is also out in the open that she was misusing Sushant’s hard-earned money and credit cards. The public also started questioning how the actress was able to hire an expensive lawyer like Satish Maneshinde. The case is still in the process of being solved and identifying her motive for possibly misusing such a considerable amount of money.

Apart from being money-centric, there are several other attributes required in a human being. A proper control is to be kept over a person’s undying desire to keep on earning and then spending more than what is required. Most Indians are yet to understand what a ‘simple lifestyle’ actually is. All this makes us see that the lives experienced by the past generations was one of satisfaction. A close relative of mine had mentioned once that, ‘when you give excess food to a person, he will be content. But if you give excess money to a person, he can never be satisfied. He will be greedy for more’.

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