The real cost of ‘I deserve it’: How tiny money habits quietly kill your wealth warns Finwisor CEO
Small habits that seem harmless often drain more wealth than a single big mistake ever could.
Shah listed simple examples that hit close to home for many people.
Spending ₹1 lakh on a party because “I deserve it”. Buying a ₹20 lakh car to match what colleagues drive. Going abroad every year without thinking about retirement.
Putting off serious financial planning because next year always feels close enough. Jumping into Bitcoin because the news says it is hot. Avoiding insurance because “nothing’s likely to happen”. Letting ₹50 lakh sit idle instead of making it grow. Blindly following influencers into risky trades.
“I’ve seen this up close,” Shah wrote. “People with great jobs, big salaries, and sharp instincts still end up stuck financially because of these patterns.”
Discipline makes the difference
Understanding money is not rocket science. Spend less than you earn, plan for tomorrow, invest the extra. Many know this in theory. Few stick to it.
“Understanding money isn’t hard,” Shah says, “but sticking to a plan takes real effort.”
He urges everyone to run a simple check. “Has your investment ratio — how much you invest from your income — increased over the years? Could you survive financially if you couldn’t work for six months? Do you know exactly why you hold each investment, and when you’d sell it? If something happened to you, would your family know what to do?”
“These aren’t dramatic questions,” Shah says. “But they can quietly change your life for the better.”
His post drew plenty of nods. One reader added, “Don’t forget spending your life savings on a one-day wedding!”
The big mistakes hiding in plain sight
The same point is echoed by Bajaj Finserv, which warns that people often slip because they do not plan enough or act without thinking.
Their advice is plain. Start saving early. Build a “safety net”. A good thumb rule is to save at least 20 percent of your income. Many people ignore this and find themselves with no cushion when things go wrong.
Next is debt. Some loans help build assets, but too much debt quickly turns into a drag. Bajaj Finserv says it straight: stop adding debt before you talk about clearing it. Spend less than you earn. Stick to a timeline for becoming debt-free.
Control emotions, control spending
One reason people fail to save is emotional spending. Stress, envy, boredom — all push us to spend money we do not need to. The fix? Recognise this pattern, pause before buying, ask if you really need it.
Finally, Bajaj Finserv reminds everyone to set clear goals. Without a goal, there is no map. With no map, money drifts. Clear goals help people stay focused, whether it is buying a house or retiring without burdening family.
None of this is complex. But it demands discipline. Avoid spending for instant joy. Ignore trends if you do not understand them. Insure what matters. Let savings and investments grow.
Both Shah and Bajaj Finserv agree. Money mistakes creep in quietly. Good habits keep them out. The choice is yours.
(Disclaimer: This article is based on a user-generated post on LinkedIn. ET.com has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of ET.com. Reader discretion is advised.)
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