'Buying the cheapest option isn’t always the cheapest decision': CA warns about 7 spending habits that prevent wealth creation
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓CA Nitin Kaushik warned that seven spending habits prevent wealth creation for many people.
- ✓He said, "One spends to feel better today.
- ✓The other makes room for tomorrow." Impulse buying, lifestyle inflation, and credit card misuse often hurt savings.
Story at a Glance
- Category
- Indian Markets
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Synopsis
CA Nitin Kaushik explained why people earning the same salary can have different financial positions. He identified seven habits that prevent wealth creation, including impulse buying, lifestyle inflation, ignoring bank statements, delayed savings, credit card misuse, choosing cheap products and overspending on others. He advised tracking expenses, prioritising savings and building an emergency fund.
Two people earning the same salary may end up in quite a different position, finance-wise. One may be able to create wealth more easily, while the other struggles to save. CA Nitin Kaushik says that the answer may lie in their everyday spending habits, rather than just what they earn. Be it an impulse buy or maintaining expensive lifestyles or even swiping credit card for every small transaction, such small money decisions may affect long-term wealth and creation. The CA explained the seven spending habits that can hinder your wealth creation.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
The Economic Times
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.