Aug 06,2024In the journey towards financial independence, the habits we cultivate often have a more significant impact than the amount of money we earn.
Consider the following examples:
1. High Earner, Low Saver :
I know individuals who earn over ₹5 lakhs per month but spend ₹4.75 lakhs, leaving them with minimal savings. Despite their high income, they haven't invested in Systematic Investment Plans (SIPs) or other wealth-building instruments. Their lifestyle is luxurious, but their financial future is uncertain due to the lack of disciplined saving and investing habits.
2. Moderate Earner, High Saver :
On the other hand, I also know individuals who earn ₹1 lakh per month and commit ₹70,000 to SIPs. Despite earning significantly less, their disciplined approach to saving and investing has put them on a path to financial stability and growth.
These examples highlight a crucial points that earning more money does not automatically lead to wealth instead it is the habits of disciplined saving, prudent spending, and consistent investing that pave the way to true financial security and prosperity.
By adopting good financial habits, anyone can build wealth, regardless of their income level.
