Skip to main content
Scripbox Logo

15 ideas a financially responsible Indian wants to share with you

I would like to share with my fellow Indians my experiences in Personal Finance, which is a vital requirement, and which might benefit most of us in the long term.

I would like to share with my fellow Indians my experiences in Personal Finance, which is a vital requirement, and might also benefit most of us in the long term:

  1. Ensure at least 20% of your net monthly income is saved for your financial goals/life goals and utilise this for any wealth generating products. 
  2. Develop habit of timely communication with your financial planner to guide you towards financial independence.
  3. Follow the principle of Saving or Investing First,  followed by spending.
  4. Inculcate habit of "Income - Saving - Investment = Balance (for spends)
  5. The golden opportunity lies in saving from the beginning of your career, to reap rewards for life and for your family. 
  6. Ensure credit card limit utilisation is not more than 35% 
  7. Buy only for needs, don't be greedy and lose your hard earned money. 
  8. Pay credit card payments in full rather than the minimum - it's a significant point to note, or else it can eat into your savings. 
  9. Don't get tempted, wait, and watch before purchasing anything.  
  10. Explore initially reliable, trusted friends, family members to seek a loan rather than credit companies - saves interest at large. 
  11. Invest small amounts initially to gain insight on personal finance management through magazines which show case live case studies and accordingly take corrective and preventive measures. 
  12. Discuss with your spouse before taking any financial decisions, or at least take their opinion and disclose important things about your finances to them in a timely manner – it is one of the best habits to build.
  13. For savings,  procure groceries from nearby shops.
  14. Utilise rewards points as required and don't spend for the sake of rewards.
  15. Finally, develop attitude of "Saving or Investing First,  Spending Later"

This Article was authored by Madhu Kumar C, and is part of a series of articles wherein we invite readers of our blog to share their personal finance and investment experiences with the world, through the Scripbox Blog. If you'd like to contribute, do go through this and write in to

Our Most Popular Categories

Achieve all your financial goals with Scripbox. Start Now