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Personal Finance: Jake and Mike Series-Part 3 Getting into the professional career

It’s been a busy time in college and turning 22, these boys have really grown up now. They have now started to think about money, wealth, and enjoyment. Without enjoyment, what is there, right! Now they have started to venture into their new career and have been busy in their days. The two boys have now moved to a new place, meeting new people and with new challenges.

Jakes story

Jake is drawing a salary of 30k per month and he has taken a flat with his friends. His monthly rent is close to 10k as Jake wants to have his own room. And the place Jake has chosen to live is also quite expensive. He wants to live in the present and doesn’t care what future possibilities come up. Jake thinks of himself as young, energetic, and always on the move. He wants to impress other people through his actions, abilities, and talent. Jake is good at Dancing and he has the talent to impress people.

Other than the huge rent, Jake goes to parties during weekends, especially on Friday nights. Jake spends maximum on the beginning of the Month and towards the end, as all the IT professionals, he becomes broke and waits for his salary to be credited. He mostly doesn’t cook food at his flat as it is time-consuming and he eats outside every day with his friends. Most of the time, he chooses drinks with his meals and sometimes without drinks. He spends on his needs as he goes through the day without giving a second thought. If he sees what he likes, he usually goes for it, however, it might be overpriced.

By the 20th of the month, Jake usually runs out of money and starts spending with a credit card. He buys with a credit card and plans to pay the next month, after all, that’s what a credit card is for. Sometimes, Jake even asks his father for some money in case of tight emergencies. Emergency to go for a night pub and have drinks.

Even though Jake’s expense is expensive and high, he neglects the aftermath and usually goes ahead with the flow. If he faces some issue with money, he has a credit card and he has his Dad to ask for money.

Even though Jake is living next to his office building, he is planning to buy a motorcycle for himself. He plans to go on trips as his friends are having some amazing bikes. He knows anyways he will get a loan to buy the bike, so he has no trouble with that.

A lifestyle without troubles and no hassles. Jake is super comfortable with his job as there isn’t much stress in the job, pay is good and he has his friends around to go by.

Mikes story

Mike has taken out flat with his friends. He is sharing his room with his friends to have company as well as split up the rent. His rent has come down to 5000 per month. He doesn’t mind sharing as he spends only less time in the flat. Mike has made some friends in his office and loves to hang around with them.

Mike chooses his friends accordingly, he usually ignores the people who go to those expensive places and tries to hang around with the people who came from lower backgrounds. Just to keep his spendings down, know their culture, their experience, and more. He is thrilled to meet new people every day and is curious about everyone’s background as he goes through his days.

He plays badminton regularly, but he is determined to improve his game, at least by a little every day, and plans to play every day after office hours. He wants to keep his body healthy while having some fun with friends. Mike thinks spending money on playing badminton is okay as it improves his health and socializes with people around him.

Mike is super comfortable with his job, but in the back of his mind, he always thinks of being uncomfortable. He wants to learn more, as he knows the competition for corporate jobs is high and tough. He learns some of the other skills related to his job every week in order to keep his experience up to date.

Mike has learned some cooking experience from his mom at home and plans to try out all these at his flat. He wants to eat at his flat whenever possible and plans for dining out once a week. By cooking at his flat, he has learned a lot about dishes, dishes to be prepared the right way, and what ingredients to buy from the market to make these dishes. Moreover, he has learned to pick the right vegetables and fruits, filter out the rotten ones and take exactly what he wants for the week.

Mike thinks of credit cards as a trap. How do you spend money which you don’t have, and borrow it from the bank, why can’t we keep some part of our salary aside for these activities? These questions have made Mike not go for a credit card!

Mike plans to buy a bike, but he is also okay without it. He wants to buy a low-cost bike for his everyday needs. He wants to have it for his daily commute as going in buses during these times has started to become troublesome.


It’s been 2 years now working in the same company day in and day out. Both of these people are in different situations and have different mindsets now. They want to change their lives, but in a different way. Let’s explore how they want to proceed further in the next article!



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