Bilal Bashir Bhat
An old Kashmiri saying, “Chum ti Karas Keh,” means “I have enough; what should I do with it?” This is exactly the argument of families without the wealthiest background when witnessing what they call extravagance on the occasions of the richest families.
The spending habits of billionaires on different occasions often come under discussion. The recently concluded wedding ceremony of the billionaire Ambani family (I don’t know if it is still ongoing) was the talk of the town throughout the country. It showcased their ability to conduct one of the world’s most lavish events, attended by premiers of many countries, chief ministers of many states, religious leaders, and globally acclaimed artists, sportsperson,s and actors.
With every passing day, the gap between the ultra-rich and the average person widens. While the recent Ambani event might seem extravagant to us, it was not as costly in comparison to what an average Kashmiri might spend on a wedding, with 50 percent or more of his savings. We have cases where common Kashmiri families often exhaust their entire savings and even take on debt to project an image of affluence during weddings.
The Ambanis with their immense wealth, can afford to host grand events without significantly denting their fortunes. To put it in perspective, an estimate of 0.2% expenditure for them is a minuscule fraction of their net worth, contrary, where we Kashmiris in the majority while succumbing to societal pressure, to meet the reference point, or to show off never hesitate to dent our future by investing in genuine extravagance.
Due to societal pressures and the desire to maintain a facade of wealth today majority of families in Kashmir find themselves trapped in a cycle of financial strain when it comes to hosting a wedding function. Undoubtedly, in our part of the world, wedding functions have become a stage for displaying economic status, where families often spend their entire earnings and resort to loans, plunging themselves into long-term debt.
The cultural context of wedding functions cannot be ignored. However, it is essential to question the long-term implications of such spending. When families exhaust their savings or incur debt, they compromise their future financial security.
Furthermore, each lavish wedding sets a new benchmark, compelling others to match or exceed it, thereby perpetuating a culture of competition and financial imprudence. This cycle can be broken only when there is a collective shift in societal values towards more sustainable and meaningful celebrations. The ironic part is that the people who advocate against extravagance at weddings are not only involved in this behavior themselves but also justify this menace by attending such lavish functions.
The Ambanis’ example, albeit on a different scale, offers a lesson in financial prudence. Their ability to celebrate lavishly while spending a mere fraction of their wealth highlights the importance of proportionality. For common people, this translates to living within their means and prioritizing financial security over superficial displays of wealth. Only then can we hope to build a society that values substance over appearance, ensuring long-term well-being for all.
