Smart Money Moves Every Salaried Person Must Follow
You don’t need to start a business or win a lottery to become rich. If you manage your salary smartly, wealth is within your reach. This blog—based on the powerful Hindi video “9 Easy Ways to Become Rich from Your Salary”—explains practical, actionable steps to grow wealth through disciplined salaried income.
1. Track Every Rupee
The first step is financial awareness. Use an expense tracker app or spreadsheet to record every income and expense. When you see where your money goes, it’s easier to plug leaks and save more.
This awareness often leads to automatic spending reduction and better budgeting.
2. Save Before You Spend (Pay Yourself First)
As soon as your salary hits, move a fixed amount into savings/investments. This is called the “pay yourself first” principle. Automate it via:
- SIPs (Systematic Investment Plans)
- Recurring deposits
- PPF/ELSS contributions
This ensures savings become a habit, not an afterthought.
3. Create a Budget and Stick to It
Follow the 50-30-20 rule:
- 50% for needs (rent, bills)
- 30% for wants (lifestyle)
- 20% for savings/investments
Use budgeting apps or printable planners to keep yourself accountable. Sticking to this model brings financial discipline quickly.
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4. Build an Emergency Fund
Always keep 3–6 months’ worth of expenses in a liquid, accessible place—like a savings account or liquid mutual fund.
This prevents unnecessary loans or debt during job loss, illness, or urgent repairs.
5. Avoid Bad Loans
Use credit responsibly. Avoid:
- Buying phones/fashion on EMI
- Personal loans for wants
- High-interest credit card debt
Borrow only for appreciating assets (e.g., home) or education. Avoid debt traps that ruin your net worth.
6. Increase Your Income
Don’t just rely on a single salary. Try to:
- Freelance in your free time
- Upskill with high-paying certifications
- Build a side hustle or monetize a hobby
The wealthiest salaried people diversify income over time.
7. Start Investing Early
Time is your best friend. Start investing in:
- Mutual funds via SIPs
- Equity (long-term)
- PPF, ELSS for tax benefits
Even ₹500/month can grow into lakhs with compounding. Starting early beats investing big later.
8. Use Tax-Saving Tools
Use all Section 80C deductions:
- ELSS
- PPF
- Term Insurance
- NPS
- Home Loan Principal Repayment
Reduce taxable income legally, so you invest in your future—not hand it to the taxman.
9. Learn Financial Literacy
Read books, follow finance creators, subscribe to blogs (like: InkspireDaily), and stay updated.
The more you learn, the smarter your financial decisions become.
Final Takeaway
Becoming rich isn’t just for entrepreneurs—it’s a reality for salaried professionals who follow the right habits. Start by tracking, saving, budgeting, and investing consistently. The earlier you begin, the easier it becomes.
FAQs:
Q1. How can I become rich on a fixed salary?
By tracking spending, saving before spending, investing early, and avoiding bad loans, anyone can build wealth—even on a modest income.
Q2. What percentage of salary should I save?
Ideally, save at least 20% of your monthly salary. More is better, especially if you’re starting early.
Q3. Where should I invest my salary?
Start with SIPs in mutual funds, PPF for tax savings, and gradually move toward equity and other long-term investments.
Q4. Is it important to have an emergency fund?
Yes. An emergency fund prevents the need for high-interest loans during crises and keeps your wealth building undisturbed.
Q5. Can I get rich without a business?
Absolutely. With the right strategy, even salaried individuals can build wealth through disciplined saving, investing, and continuous income growth.
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