Mastering Money: How Akshat Shrivastava Saves 95% of His Income
In an age where luxury often overshadows financial discipline, financial advisor Akshat Shrivastava provides a refreshing perspective. His incredible strategy for saving 95% of his annual income while living a metropolitan lifestyle is gaining traction on social media. Here’s how he does it—and how you might apply some of his principles.
The Power of a Budget-Friendly Mindset
When Akshat began his career, earning a modest Rs 10,000 per month, he lived conservatively. With a commitment to saving, he lived in his parents’ home, relied on a second-hand mobile phone, and primarily ate home-cooked meals. His simple lifestyle made him capable of saving between Rs 1,000 to Rs 2,000 each month, even before he took on adult responsibilities such as marriage and children.
Moving Up the Income Ladder
Fast forward to his current income level of Rs 50 lakh per year, and you’d expect his spending to have increased proportionally. However, Akshat has maintained his debt-free lifestyle. Instead of succumbing to lifestyle inflation—the tendency to spend more as income rises—he has managed to save an impressive Rs 20 lakh annually.
Invest Wisely for a Wealthier Tomorrow
One of Akshat’s key strategies is investing his savings in high-growth assets. This means channeling funds into investments that are expected to deliver high returns over the long term. It’s a way to make your money work for you. Here are some practical investment avenues:
- Stock Market: Consider starting with index funds or blue-chip stocks that provide stability and growth potential.
- Real Estate: Properties can often appreciate over time, building wealth as the market rises.
- Mutual Funds: These are managed by professionals and can diversify your investment, thus reducing risk.
Lifestyle Choices Matter
What can you learn from Akshat’s journey? Here are some actionable tips:
- Start Small: Even if you’re just beginning your career, prioritize savings from your first paycheck. Aim for at least 10-20% of your income.
- Live Below Your Means: Resist the urge to upgrade your lifestyle dramatically as your income increases. Save and invest instead.
- Educate Yourself: Understanding different investment options is crucial. Free resources such as online courses or financial podcasts can be invaluable.
Conclusion: A Mindset Shift Towards Saving
Akshat Shrivastava’s story serves as both an inspiration and a practical guide for achieving remarkable savings, irrespective of your income level or caregiving responsibilities. By maintaining a minimalist lifestyle, setting clear savings goals, and investing wisely, you can carve a path toward financial stability and independence. With discipline and strategic choices, like Akshat, you, too, can set your finances on a trajectory for success.
Writes about personal finance, side hustles, gadgets, and tech innovation.
Bio: Priya specializes in making complex financial and tech topics easy to digest, with experience in fintech and consumer reviews.