When you take out your ego expenses from what you're left with after your needs, that's savings.
ANKUR WARIKOO
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Make Epic Money by Ankur Warikoo offers practical financial advice, debunks myths, and addresses biases. It provides actionable strategies and tools tailored to the Indian context for building wealth.
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Pay Yourself First
Prioritise your savings, not saving what is left after spending.
When budgeting, consider what is necessary to cover your basic needs, then figure out how much you want to save. The leftover is spending money. If it helps, think of your savings and investments as a monthl...
1. Budgeting Basics:
Income vs. Expenses: Understand how to balance what you earn and what you spend
Needs vs. Wants: Differentiate between essential expenses and discretionary spending
Savings: Allocate a portion of your income to savings and emergen...
How to follow through with saving up an emergency plan
Some people are disciplined enough to manually set aside "leftover" money at the end of every month into a high-interest savings account. Others take the decision-making out of the equation and automate the entire process. Most banks have a feature that allows you to set up recurring transfers fr...
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