They say money is a lifelong teacher — but I swear I kept skipping class until my 50s. If you’re in your 20s, 30s, or 40s and wondering whether your money decisions are future-proof… here’s a personal, brutally honest walk through my financial missteps — and what I wish I had done differently.
In My 20s: The Era of Ignorance and Swag
Mistake #1: No Budget, No Plan — Just Vibes
I treated my salary like it was a reward for surviving college — and spent it accordingly. I had no clue where my money was going. Weekends were for partying, weekdays were for Swiggy.
What I Should Have Done: Created a simple monthly budget and tracked spending. Even ₹500 SIPs would’ve changed my life.
Mistake #2: Credit Card = Free Money
I got a credit card and immediately turned into a Bollywood villain at the mall. No one told me the 40-day interest-free period wasn’t a license to splurge.
What I Should Have Done: Used credit cards smartly — for points, tracked usage, and paid it off in full.
Mistake #3: Zero Investing (Because I Thought I Was Too Young)
I thought investing was for “grown-ups.” I didn’t even open a PPF account, let alone mutual funds.
What I Should Have Done: Started SIPs in index funds or ELSS. Compounding could have built lakhs by now.
In My 30s: The EMI Decade
Mistake #4: Bought Stuff to “Look Successful”
The big phone, the car loan, the overpriced gadgets — all EMIs. I was earning more, but saving less.
What I Should Have Done: Distinguished needs from wants. Just because I got a raise didn’t mean I needed a bigger TV.
Mistake #5: Delayed Emergency Fund
Every unexpected event — from hospital bills to job loss — became a crisis because I had no buffer.
What I Should Have Done: Built 3–6 months of expenses in a liquid fund or separate savings account. Peace of mind is priceless.
Mistake #6: No Health Insurance
I thought I was too fit to fall sick. Then came one hospital visit — and there went my entire year’s savings.
What I Should Have Done: Bought health insurance early when premiums were low. Also got term life insurance to protect my family.
In My 40s: Panic Mode Activated
Mistake #7: Realised Retirement Wasn’t So Far
I hit 40 and realised I hadn’t really planned for retirement. My EPF was underfunded, I had no NPS, and I was living month to month.
What I Should Have Done: Used EPF + NPS + SIP combo with goal-based investing. Retirement isn’t a vague future — it creeps up fast.
Mistake #8: Depended on One Source of Income
I never built a side income or invested in skill development. When layoffs happened, I was terrified.
What I Should Have Done: Built second income streams — freelance, digital products, dividend income, or even part-time consulting.
Now in My 50s: Fixing the Mess
Step 1: I Track Every Rupee
From groceries to subscriptions, I use apps like Jupiter or simply Google Sheets. Awareness changed everything.
Step 2: I Invest Without Fear
Started SIPs, diversified across debt and equity, learned about mutual funds and REITs. I don’t chase returns — I seek consistency.
Step 3: No Lifestyle Inflation
I don’t care about flexing. I care about sleeping peacefully at night knowing my EMI is zero and my investments are growing.
Key Takeaways
| Age | Biggest Mistake | What You Can Do |
|---|---|---|
| 20s | Delayed investing | Start SIPs now — even ₹500 matters |
| 30s | Too much EMI, no protection | Get insurance, emergency fund, avoid lifestyle creep |
| 40s | No retirement planning | Set clear goals, diversify investments, reduce debt |
“The best time to plant a tree was 20 years ago. The second-best time is now.” – Chinese Proverb
I may have started late, but I’ve finally started. And if you’re reading this, you still have time too.
