"....will you be happy with that washing machine 5 years down the line?..."

"...but bhai, it's too expensive!" I exclaimed.

In 2006, after starting my career, I began thinking about spending money on things that might be useful for my family. A washing machine was one such item (we did not have one before). I was making about 12-13k a month as a software engineer, so this was a significant expense. I considered buying a semi-automatic washing machine as it fit within my budget.

Back then, there was no Amazon or Google reviews to easily get information about products, so we all had (and some of us still do) that one friend we'd consult before buying certain items, especially electronics, as we often needed an expert for validation. I asked my friend, Deepak, what he thought about it, expecting validation. He said, "That's a good model, but think about it. Will you be happy with that washing machine five years down the line?"

He saw the confused look in my eyes and started explaining, "You are earning X amount now, but you will earn much more in the next five years. When you use that semi-automatic washing machine five years from now, won't you regret not spending a few thousand extra for a fully automatic machine, which has much higher utility? It's not like you'll buy a washing machine every year, right?" That made me think. I stretched my budget and bought a fully automatic washing machine.

Over the years, this thought process has guided my purchases, whether it was a car, mobile, TV, or oven. I always considered if I would be happy with my choice 5-7 years later. This mindset also applies to decisions like choosing insurance. Often, we don't fully account for our future needs, which could be years or even decades away. The amount we save now on something essential may seem small compared to the long-term utility/benefits.

This principle probably applies to other areas of our lives too. Do we assess the impact of a decision on our future, especially when it comes to making minor adjustments, spending, or investments that we are not comfortable making or deem unnecessary at that point in time? That extra push we consider unnecessary or insignificant now might actually be very significant when we look back in time from the future.

"Where do you see yourself five years down the line?" is a clichéd question. However, "Will you be happy with that five years down the line?" is definitely a very pertinent question to ask ourselves when making decisions with long-term impacts.

𝙋.𝙎.: This post is about investing in essential needs, not luxuries. Don’t twist this principle to justify splurging on the latest iPhone or gadgets beyond your budget. I’m posting this using a 5-year-old phone with 8 colorful vertical lines on the display and plan to keep using it for another 5 years, assuming lines 9, 10, and 11 don’t appear.