7 Financial Mistakes Most Indians Make (And How to Avoid Them)

No Emergency Fund

Many individuals don’t save for unforeseen events. Always keep at least 3–6 months of expenses liquid.

2. Living Without Insurance

Lack of term life and health insurance can devastate families financially. Secure your future with basic policies.

3. Investing Without Knowledge

People often invest in stocks or crypto blindly. Research and diversify your investments for safer returns.

4. Too Much Debt

Credit card debt and personal loans can trap you. Always borrow responsibly and repay on time.

5. Ignoring Retirement

Start early with NPS, EPF, or mutual funds to build a retirement corpus. Delaying this can cost you decades of growth.

6. Not Budgeting Monthly

Track your income and spending. A basic budget helps identify wasteful expenses and increase savings.

7. Chasing Quick Riches

Stay away from ‘get rich quick’ schemes. Long-term investing always wins over speculation.