CA breaks down getting rich into 3-step formula; reminds basic reality of actual wealth building

In an era where social media often glorifies overnight success and speculative investments, Chartered Accountant Nitin Kaushik has brought the discussion on personal finance back to basics. In a recent post on X, he urged people to stop chasing “get-rich-quick schemes” and instead master three simple steps that form the foundation of lasting financial growth. His practical message served as a reminder that wealth creation is built on consistent effort, not shortcuts.

Step 1: Increase your income with intent

Kaushik’s first principle focuses on increasing income, but he clarified that this does not mean jumping into every available side hustle. Instead, it involves strategically improving earning potential by developing relevant skills, finding smarter ways to work, and negotiating compensation effectively. According to him, even a modest increase—such as an extra ₹5,000 a month—can have a significant long-term impact. His approach encourages individuals to look beyond temporary gains and think about how sustainable growth in income can strengthen their financial base.

Step 2: Cut unnecessary expenses without extremes

The second part of Kaushik’s formula highlights mindful spending rather than extreme saving. He explained that building wealth doesn’t require harsh frugality or depriving oneself of comfort. Instead, it calls for small but conscious choices—like skipping daily indulgences, avoiding impulse purchases, and prioritizing expenses that truly add value. His emphasis was on balance, reminding people that financial health improves when spending aligns with long-term goals rather than short-term desires.

Stop Chasing Get-Rich-Quick Schemes. Master These 3 Steps Instead.

Personal finance isn’t a mystery—it’s surprisingly simple. It boils down to just three steps that I see everyone overlook when overwhelmed by fancy investment talk.

First, increase your income. That doesn’t mean…

— CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) October 31, 2025

Step 3: Invest the difference and let compounding work

Kaushik’s third and most crucial step focuses on investing. He noted that merely saving money is not enough since inflation quietly erodes its value over time. By investing the surplus—no matter how small—individuals can harness the power of compounding to grow their wealth steadily. “Just saving won’t protect your money from inflation quietly chipping away year after year,” he wrote, underscoring that investment is the real driver of financial growth.

Consistency over complexity

Kaushik concluded that personal finance is not a mystery or a secret formula. Success comes from applying these three principles—earning more, spending smart, and investing wisely—on a consistent basis. “Financial success isn’t some secret formula. It’s about optimizing these three pillars consistently,” he wrote, urging people to ignore market noise and focus on fundamentals.