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The middle-class money trap: Why looking rich keeps Sri Lankans poor

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Source: https://www.instagram.com/p/DLmfO0mqGoL/

Every January, we make grand resolutions about our finances. We promise ourselves we’ll save more, spend less, and finally get serious about investments. By March, most of these promises were abandoned, alongside our unused gym memberships.

The problem isn’t our intentions, it’s our approach. We treat financial management as a personality flaw that needs fixing, rather than a skill that needs the right strategy. This year let’s try something different. Let’s put actual behavioural science behind how we handle our rupees.

Based on the article ‘Seven proven, realistic ways to improve your finances in 2026’ published on 1news.co.nz, I aim to adapt these recommended financial strategies to the Sri Lankan context.” Here are seven money habits that work because they’re grounded in how humans actually behave, not how we wish we would.

While these strategies offer useful direction for strengthening personal financial management, it is important to acknowledge that they may not be suitable for everyone. Many households face severe financial pressure and cannot realistically follow traditional income allocation frameworks, such as the well-known but outdated Singalovada Sutta guidelines, when even meeting daily food expenses has become a struggle. For individuals and families who are burdened by escalating costs of essentials, including electricity, water, mobile connectivity, transport, and other non-negotiable commitments, strict adherence to prescriptive models is neither practical nor fair to expect. Therefore, readers should remain mindful of their own financial realities and adapt these strategies in ways that align with their income levels, essential obligations, and broader personal circumstances.

1. Your Money Problems Aren’t Moral Failures, They’re Data Points

When every rupee misspent becomes evidence of personal failure, we stop looking for solutions. Shame is a terrible problem-solver. It makes us hide from our bank statements, avoid difficult conversations, and repeat the same mistakes because we’re too embarrassed to examine them.

Instead, try replacing judgment with curiosity. Transform “I’m terrible with money” into “That’s interesting, why did I make that choice?” Suddenly, mistakes become information rather than indictments. You might notice you overspend at Odel or high-end restaurant when stressed about work. Or that you commit to expensive plans when feeling socially pressured. Perhaps your online shopping peaks during power cuts when you’re bored and frustrated.

2. Forget the Year-Long Marathon, Focus on 90-Day Sprints

A Sri Lankan year is densely packed with financial obligations: Sinhala/Tamil Avurudu, Christmas, Vesak, and Poson celebrations; recurring school fees; seasonal festival shopping; wedding and almsgiving periods; yearend festivities; and an evergrowing list of marketing-driven occasions such as Valentine’s Day, Father’s Day, Mother’s Day, and many others. Each of these events carries its own financial weight, often placing additional pressure on already-stretched household budgets.

Research consistently shows that shorter time frames work better. Ninety days is long enough to create a meaningful change, but short enough to maintain focus and momentum. So instead of one overwhelming annual goal, give yourself four quarterly upgrades.

In the first quarter, the focus may be on organising your contributions toward key duties and responsibilities, while also ensuring that you are maximising the available benefits for your designated beneficiaries. Quarter two could be about building a small emergency fund, even Rs. 10,000 provides breathing room. Quarter three might involve auditing your bills and subscriptions to eliminate unnecessary expenses. Quarter four could be when you finally start that investment you’ve been postponing. You don’t need superhuman discipline or complicated spreadsheets, just focused attention, one quarter at a time.

3. Make One Decision That Eliminates Weekly Worry

The best money decisions are the ones you make once but benefit from repeatedly. These are decisions that permanently reduce what behavioural economists call “decision fatigue”, the mental exhaustion that comes from constantly managing money in your head. What’s one choice you could make today that would remove a recurring financial worry?

It might be setting up an automatic standing order to transfer Rs. 10,000 to savings the day your salary arrives, before you can spend it. Maybe it’s consolidating your scattered savings accounts into one that actually pays decent return.

These aren’t dramatic moves that require personality transplants. They’re structural decisions that work with your human tendency toward inertia rather than against it. Most banks now offer seamless digital automation. You can set it up once and benefit from that decision every single month without additional effort or willpower. You make the decision once. You benefit all year. That’s leveraging your energy intelligently.

4. Stop Spending on Who You Think You Should Be

Sri Lankan society comes with heavy expectations. The car you drive, the school your children attend, the hotels you patronise, the brands you wear, all communicate your worth, or so we’re told. Much of our spending isn’t about actual enjoyment. It’s about meeting unspoken expectations, keeping up appearances, or aspiring to a version of us that doesn’t actually exist.

We buy expensive saris we’ll wear once because everyone does. We maintain memberships to clubs we rarely visit because it looks good. We say yes to weekend plans at overpriced restaurants because declining feels like admitting we can’t afford it. We upgrade phones not because ours stopped working, but because others have.

Before your next purchase, ask yourself: do I actually want this, or do I want to want it? If it’s the second one, walk away. You won’t miss it. This isn’t about deprivation, it’s about precision. When you stop spending to perform and start spending to support the life you genuinely enjoy, money pressure eases dramatically. Your resources align with your actual values rather than imagined expectations.

Maybe you don’t care about fancy restaurants, but you love long drives along the southern coast. Maybe branded clothing leaves you cold, but you’d spend any amount on art supplies or books. That’s fine. Spend accordingly.

5. Break One Habit, See If You Actually Miss It

We’re creatures of routine, which serves us well until those routines outlive their usefulness. Sometimes we spend money on habits that started for good reasons but no longer serve us. Alpechchathava, in Buddha’s teaching, means living contentedly with few desires. It guides a person to manage money wisely by avoiding excess spending, unnecessary debt, and craving, and by focusing on essential needs and wholesome priorities. In this way, wealth supports mental cultivation, generosity, and spiritual progress.

The daily kottu roti that once felt like a convenient solution after working late may now have turned into an unnecessary routine. Similarly, frequent P&S or Caravan snack runs, and the habit of picking up sugary treats like cakes and sweets, are not only costly but also wellknown to be unhealthy, as nutritionists consistently point out. Beyond food, other expenses such as magazine subscriptions, the monthly coffee meetup, or weekend mall browsing often continue on autopilot without us realising how much they add up. These seemingly small, habitual expenses can quietly drain your budget while offering very little longterm value.

Try this experiment: keep a money diary for one week. Note every expense, no matter how small. Then identify one regular spend and eliminate it for the following week. If you don’t miss it? Excellent, keep it gone. If you genuinely miss it? Add it back without guilt. This isn’t about permanent sacrifice.

It’s about snapping yourself out of autopilot and checking whether your spending still reflects your current reality, priorities and purchasing power. You might discover you’re spending Rs. 15,000 monthly on things you barely notice.

6. Create Your Crisis Playbook on a Good Day

Many financial disasters don’t happen because we’re careless, they happen because we’re panicked. When crisis strikes, job loss, medical emergency, unexpected business downturn, fear hijacks our decision-making. Our rational brain exists while panic makes expensive choices: high-interest personal loans, selling investments at losses, making commitments we can’t sustain.

The solution? Make your crisis plan before the crisis arrives. On a calm day, sit down and document: If I lost my income tomorrow, what would I do first? Which expenses are truly essential? What’s the absolute minimum I need to function? Who could I call for advice? Which savings are untouchable, which could be accessed if necessary? What government support or loan restructuring options exist (Not in Sri Lanka)? This is a sort of preparation for sudden shocks.

7. Question the Money Stories You Inherited

Sometimes our biggest financial obstacles aren’t failed attempts, they’re the attempts we never make because we’ve internalised limiting stories. “Our family was never good with money.” “Investing is for rich people.” “I’m just not the type who earns more.” “Women don’t understand finance.” These narratives, absorbed from family, culture, or past experiences, become invisible fences.

Question them. Where did this belief originate? Is it actually true, or is it a story you’ve been telling yourself for so long, it feels like fact? What would happen if you tested it? Often, these stories protect us from the discomfort of trying and potentially failing. But they also protect us from the possibility of succeeding. And that’s a far costlier protection than most of us realise.

The Bottom Line

Improving your finances in 2026 doesn’t require becoming a different person. It requires understanding the person you already are, your patterns, triggers, and tendencies, and working with them rather than against them.

These aren’t magic solutions. They’re evidence-based approaches that acknowledge a simple truth: you’re not broken, and your money management doesn’t need fixing through willpower alone. It needs better systems, clearer thinking, and a lot less shame.



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Features

Ranking public services with AI — A roadmap to reviving institutions like SriLankan Airlines

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Efficacy measures an organisation’s capacity to achieve its mission and intended outcomes under planned or optimal conditions. It differs from efficiency, which focuses on achieving objectives with minimal resources, and effectiveness, which evaluates results in real-world conditions. Today, modern AI tools, using publicly available data, enable objective assessment of the efficacy of Sri Lanka’s government institutions.

Among key public bodies, the Supreme Court of Sri Lanka emerges as the most efficacious, outperforming the Department of Inland Revenue, Sri Lanka Customs, the Election Commission, and Parliament. In the financial and regulatory sector, the Central Bank of Sri Lanka (CBSL) ranks highest, ahead of the Securities and Exchange Commission, the Public Utilities Commission, the Telecommunications Regulatory Commission, the Insurance Regulatory Commission, and the Sri Lanka Standards Institution.

Among state-owned enterprises, the Sri Lanka Ports Authority (SLPA) leads in efficacy, followed by Bank of Ceylon and People’s Bank. Other institutions assessed included the State Pharmaceuticals Corporation, the National Water Supply and Drainage Board, the Ceylon Electricity Board, the Ceylon Petroleum Corporation, and the Sri Lanka Transport Board. At the lower end of the spectrum were Lanka Sathosa and Sri Lankan Airlines, highlighting a critical challenge for the national economy.

Sri Lankan Airlines, consistently ranked at the bottom, has long been a financial drain. Despite successive governments’ reform attempts, sustainable solutions remain elusive.

Globally, the most profitable airlines operate as highly integrated, technology-enabled ecosystems rather than as fragmented departments. Operations, finance, fleet management, route planning, engineering, marketing, and customer service are closely coordinated, sharing real-time data to maximise efficiency, safety, and profitability.

The challenge for Sri Lankan Airlines is structural. Its operations are fragmented, overly hierarchical, and poorly aligned. Simply replacing the CEO or senior leadership will not address these deep-seated weaknesses. What the airline needs is a cohesive, integrated organisational ecosystem that leverages technology for cross-functional planning and real-time decision-making.

The government must urgently consider restructuring Sri Lankan Airlines to encourage:

=Joint planning across operational divisions

=Data-driven, evidence-based decision-making

=Continuous cross-functional consultation

=Collaborative strategic decisions on route rationalisation, fleet renewal, partnerships, and cost management, rather than exclusive top-down mandates

Sustainable reform requires systemic change. Without modernised organisational structures, stronger accountability, and aligned incentives across divisions, financial recovery will remain out of reach. An integrated, performance-oriented model offers the most realistic path to operational efficiency and long-term viability.

Reforming loss-making institutions like Sri Lankan Airlines is not merely a matter of leadership change — it is a structural overhaul essential to ensuring these entities contribute productively to the national economy rather than remain perpetual burdens.

By Chula Goonasekera – Citizen Analyst

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Features

Why Pi Day?

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International Day of Mathematics falls tomorrow

The approximate value of Pi (π) is 3.14 in mathematics. Therefore, the day 14 March is celebrated as the Pi Day. In 2019, UNESCO proclaimed 14 March as the International Day of Mathematics.

Ancient Babylonians and Egyptians figured out that the circumference of a circle is slightly more than three times its diameter. But they could not come up with an exact value for this ratio although they knew that it is a constant. This constant was later named as π which is a letter in the Greek alphabet.

Archimedes

It was the Greek mathematician Archimedes (250 BC) who was able to find an upper bound and a lower bound for this constant. He drew a circle of diameter one unit and drew hexagons inside and outside the circle such that the sides of each hexagon touch the sides of the circle. In mathematics the circle passing through all vertices of a polygon is called a ‘circumcircle’ and the largest circle that fits inside a polygon tangent to all its sides is called an ‘incircle’. The total length of the smaller hexagon then becomes the lower bound of π and the length of the hexagon outside the circle is the upper bound. He realised that by increasing the number of sides of the polygon can make the bounds get closer to the value of Pi and increased the number of sides to 12,24,48 and 60. He argued that by increasing the number of sides will ultimately result in obtaining the original circle, thereby laying the foundation for the theory of limits. He ended up with the lower bound as 22/7 and the upper bound 223/71. He could not continue his research as his hometown Syracuse was invaded by Romans and was killed by one of the soldiers. His last words were ‘do not disturb my circles’, perhaps a reference to his continuing efforts to find the value of π to a greater accuracy.

Archimedes can be considered as the father of geometry. His contributions revolutionised geometry and his methods anticipated integral calculus. He invented the pulley and the hydraulic screw for drawing water from a well. He also discovered the law of hydrostatics. He formulated the law of levers which states that a smaller weight placed farther from a pivot can balance a much heavier weight closer to it. He famously said “Give me a lever long enough and a place to stand and I will move the earth”.

Mathematicians have found many expressions for π as a sum of infinite series that converge to its value. One such famous series is the Leibniz Series found in 1674 by the German mathematician Gottfried Leibniz, which is given below.

π = 4 ( 1 – 1/3 + 1/5 – 1/7 + 1/9 – ………….)

The Indian mathematical genius Ramanujan came up with a magnificent formula in 1910. The short form of the formula is as follows.

π = 9801/(1103 √8)

For practical applications an approximation is sufficient. Even NASA uses only the approximation 3.141592653589793 for its interplanetary navigation calculations.

It is not just an interesting and curious number. It is used for calculations in navigation, encryption, space exploration, video game development and even in medicine. As π is fundamental to spherical geometry, it is at the heart of positioning systems in GPS navigations. It also contributes significantly to cybersecurity. As it is an irrational number it is an excellent foundation for generating randomness required in encryption and securing communications. In the medical field, it helps to calculate blood flow rates and pressure differentials. In diagnostic tools such as CT scans and MRI, pi is an important component in mathematical algorithms and signal processing techniques.

This elegant, never-ending number demonstrates how mathematics transforms into practical applications that shape our world. The possibilities of what it can do are infinite as the number itself. It has become a symbol of beauty and complexity in mathematics. “It matters little who first arrives at an idea, rather what is significant is how far that idea can go.” said Sophie Germain.

Mathematics fans are intrigued by this irrational number and attempt to calculate it as far as they can. In March 2022, Emma Haruka Iwao of Japan calculated it to 100 trillion decimal places in Google Cloud. It had taken 157 days. The Guinness World Record for reciting the number from memory is held by Rajveer Meena of India for 70000 decimal places over 10 hours.

Happy Pi Day!

The author is a senior examiner of the International Baccalaureate in the UK and an educational consultant at the Overseas School of Colombo.

by R N A de Silva

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Sheer rise of Realpolitik making the world see the brink

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A combined US-Israel attack on Iran.(BBC)

The recent humanly costly torpedoing of an Iranian naval vessel in Sri Lanka’s Exclusive Economic Zone by a US submarine has raised a number of issues of great importance to international political discourse and law that call for elucidation. It is best that enlightened commentary is brought to bear in such discussions because at present misleading and uninformed speculation on questions arising from the incident are being aired by particularly jingoistic politicians of Sri Lanka’s South which could prove deleterious.

As matters stand, there seems to be no credible evidence that the Indian state was aware of the impending torpedoing of the Iranian vessel but these acerbic-tongued politicians of Sri Lanka’s South would have the local public believe that the tragedy was triggered with India’s connivance. Likewise, India is accused of ‘embroiling’ Sri Lanka in the incident on account of seemingly having prior knowledge of it and not warning Sri Lanka about the impending disaster.

It is plain that a process is once again afoot to raise anti-India hysteria in Sri Lanka. An obligation is cast on the Sri Lankan government to ensure that incendiary speculation of the above kind is defeated and India-Sri Lanka relations are prevented from being in any way harmed. Proactive measures are needed by the Sri Lankan government and well meaning quarters to ensure that public discourse in such matters have a factual and rational basis. ‘Knowledge gaps’ could prove hazardous.

Meanwhile, there could be no doubt that Sri Lanka’s sovereignty was violated by the US because the sinking of the Iranian vessel took place in Sri Lanka’s Exclusive Economic Zone. While there is no international decrying of the incident, and this is to be regretted, Sri Lanka’s helplessness and small player status would enable the US to ‘get away with it’.

Could anything be done by the international community to hold the US to account over the act of lawlessness in question? None is the answer at present. This is because in the current ‘Global Disorder’ major powers could commit the gravest international irregularities with impunity. As the threadbare cliché declares, ‘Might is Right’….. or so it seems.

Unfortunately, the UN could only merely verbally denounce any violations of International Law by the world’s foremost powers. It cannot use countervailing force against violators of the law, for example, on account of the divided nature of the UN Security Council, whose permanent members have shown incapability of seeing eye-to-eye on grave matters relating to International Law and order over the decades.

The foregoing considerations could force the conclusion on uncritical sections that Political Realism or Realpolitik has won out in the end. A basic premise of the school of thought known as Political Realism is that power or force wielded by states and international actors determine the shape, direction and substance of international relations. This school stands in marked contrast to political idealists who essentially proclaim that moral norms and values determine the nature of local and international politics.

While, British political scientist Thomas Hobbes, for instance, was a proponent of Political Realism, political idealism has its roots in the teachings of Socrates, Plato and latterly Friedrich Hegel of Germany, to name just few such notables.

On the face of it, therefore, there is no getting way from the conclusion that coercive force is the deciding factor in international politics. If this were not so, US President Donald Trump in collaboration with Israeli Rightist Premier Benjamin Natanyahu could not have wielded the ‘big stick’, so to speak, on Iran, killed its Supreme Head of State, terrorized the Iranian public and gone ‘scot-free’. That is, currently, the US’ impunity seems to be limitless.

Moreover, the evidence is that the Western bloc is reuniting in the face of Iran’s threats to stymie the flow of oil from West Asia to the rest of the world. The recent G7 summit witnessed a coming together of the foremost powers of the global North to ensure that the West does not suffer grave negative consequences from any future blocking of western oil supplies.

Meanwhile, Israel is having a ‘free run’ of the Middle East, so to speak, picking out perceived adversarial powers, such as Lebanon, and militarily neutralizing them; once again with impunity. On the other hand, Iran has been bringing under assault, with no questions asked, Gulf states that are seen as allying with the US and Israel. West Asia is facing a compounded crisis and International Law seems to be helplessly silent.

Wittingly or unwittingly, matters at the heart of International Law and peace are being obfuscated by some pro-Trump administration commentators meanwhile. For example, retired US Navy Captain Brent Sadler has cited Article 51 of the UN Charter, which provides for the right to self or collective self-defence of UN member states in the face of armed attacks, as justifying the US sinking of the Iranian vessel (See page 2 of The Island of March 10, 2026). But the Article makes it clear that such measures could be resorted to by UN members only ‘ if an armed attack occurs’ against them and under no other circumstances. But no such thing happened in the incident in question and the US acted under a sheer threat perception.

Clearly, the US has violated the Article through its action and has once again demonstrated its tendency to arbitrarily use military might. The general drift of Sadler’s thinking is that in the face of pressing national priorities, obligations of a state under International Law could be side-stepped. This is a sure recipe for international anarchy because in such a policy environment states could pursue their national interests, irrespective of their merits, disregarding in the process their obligations towards the international community.

Moreover, Article 51 repeatedly reiterates the authority of the UN Security Council and the obligation of those states that act in self-defence to report to the Council and be guided by it. Sadler, therefore, could be said to have cited the Article very selectively, whereas, right along member states’ commitments to the UNSC are stressed.

However, it is beyond doubt that international anarchy has strengthened its grip over the world. While the US set destabilizing precedents after the crumbling of the Cold War that paved the way for the current anarchic situation, Russia further aggravated these degenerative trends through its invasion of Ukraine. Stepping back from anarchy has thus emerged as the prime challenge for the world community.

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