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1 discipline I've taught my niece:
Classify each expense as need, want and splurge.
(By trial and error you'll get better at this- isn't that simple)
For each 'splurge' ask if you can 'I&F...invest and forget ' equivalent amount SAME DAY!!!!
So, whether it's a 400 spent on coffee or 40,000 on Goa trip...she invests in a click of button same amount.....if she can't, she'll postpone that decision.
Simple, effective!!!
(I am 52: I was advised similar by a friend in 2005 when I fell for alcohol for about next 10 years...to help you understand: 10K monthly if I spent on it, I also wrote a cheque for buying 10k MF units - no online system that time😂.......each 10k 'SIP' is now worth 1.8-2.0 Lakhs...i enjoyed my drinks & never regretted it either)
Her friends also are getting on board with this. Those who don't , they believe in YOLO.....I tell them You Only DIE Once...you have to live everyday 😂
Makes sense?
