Investors listen to the talk of Jirodha co-founder Nitin Kamat very carefully. Kamat, who achieved great success at a very young age, gives the right advice to investors. He has recently shared a video on social media platform X. In this, he has told some such things, by implementing you can really become rich. However, his advice is not related to investing in any stock, but is associated with the habits that we do not have the money for investment.
Ban on the habit of spending more
This video of Kamat states why most people do not become rich despite good income. The biggest reasons for this are our habits that force us to spend more than necessary. We often buy something that we do not need special. We spend a lot of money on such a lifestyle or eating outside or eating food from outside, without which work can be done.
Money is not saved for investment due to getting stuck in debt trap
It has been said in this video that there is an old formula of success-do hard work, join the job, buy a house with a loan. Then wear good clothes. However, this formula implicates you in a debt trap. We become strong to live in such a cycle, in which thick salary comes in the account and leaves the account as soon as the month is over. Its biggest loss is that we do not have money left for investment.
We can become rich only by investing
Kamat’s video states that if we want to become rich then we have to invest. For this, we have to stop non-essential expenses. It has been said in this video that you should spend 10 or more rupees, you need to write every expense. If you reduce non-essential expenses by one per cent, then you will have 500 rupees for investment for this. If this money is investment, it will increase.
Also read: Gold will go up to 1.40 lakhs per 10 grams, have you started investing?
Stay ready for sudden troubles
Many times sudden troubles end our entire savings. Examples of missing jobs or falling ill in the family are examples of this. We need to be prepared in advance for such troubles. We must keep the cost of at least six months in cash. This money will give you a lot of protection in the situation of trouble. Health insurance exists in the market today. This insurance can be required anytime. Suddenly falling ill, it will not eliminate your savings. You also have to avoid getting caught in a debt trap. Today, houses, cars and even phones are available on EMI. However, these habits prevent you from making wealth.