Smart Habits that will make you a Crorepati

No, it is not a fad Kaun Banega Crorepati has started recently. Wanting to be a Crorepati has been an age-old dream for many investors. And what if we tell you its achievable? What it requires is meticulous financial planning and perhaps a lifestyle edit. In the process, sometimes you might find your income and savings are not enough. But do not get discouraged. If you are trying to become a financial Mary Kom while earning the same amount everyone around you earns and by saving the same amount everyone does, it isn’t that easy. Special aims require special focus.


The one most important factor that should be considered while creating a financial portfolio aiming to fetch you, crores of Rupees, is the effect of inflation. A lot of re-visits to this portfolio will be required and inflation needs to be a part of all these calculations diligently. For the beginners, inflation in layman terms is the extra amount you shall pay for the same item after a period of time. For e.g. assuming a per annum inflation rate of 6%- what you buy today for Rs 100 will be bought for Rs 106 next year.

Let us look at some habits that will help your dream of being a Crorepati-

Learn to Budget

Budgeting is very underrated and very relevant. And budgeting can work wonders! It also requires an extremely disciplined approach. The other advisable step here would be to look for alternative income sources to speed up the process of that dream-crore. That would require you to budget your time too, along with budgeting the money.

Save to Invest

It is important that you save to invest and be smart with it. As much as saving the money is important, growing it is more important. Savings need to be your single-minded focus. The kind of investments you decide on will further define your financial course. A good way to inculcate discipline in your investing habits is to start a SIP in top mutual funds. That too, preferably in the ELSS funds, to ensure that you get the benefits of tax-saving as well.

Be Minimalistic

Minimalistic doesn’t necessarily mean you owning a single pair of shoes and 3 clothes in the wardrobe. It can also be an attitude towards life in general. Let’s keep the dream of that luxury car at bay for now, let us cut down on the eating out and so on. This is the edit your life needs for both mental and financial peace.

Invest Early, Invest for long

The key to investing is to start early. At the beginning of your career, you may be advised to invest your money in the more traditional instruments like PPF, FD etc. The arguments will be for tax-saving, security, traditional is the best etc but very few for the returns. This is because the returns earned in the abovesaid investment vehicles are low. In comparison, investing in the top mutual funds will provide you with much higher returns over a long period of time. The power of compounding works its magic in mutual funds. Let us look at this with an example –

The choice is amply clear. For the same amount invested, an equity mutual fund has provided you with 200% more returns than the other two instruments.

Being a Crorepati can very well be a reality if pursued with ardent diligence. The financial consultants at WealthApp would be delighted to help you achieve your dream with careful planning. Dream away!

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