HiveComb

We all hear from everyone that we should save as much as possible. Start with 10% and try to increase as much as you can. That's true but again people don't factor your income. If you are earning Rs 10K, 10% is just Rs 1K whereas if you are earning Rs 1 Lakh, it's 10% is just 10K.

So now if you are earning less, then increasing income should be your priority. When you have more income and your expense doesn't increase, then automatically you can save more. I was reading somewhere that a person started with Rs 50K and his expense was just Rs 40K and he was saving 20%. And in 2 to 3 years his income rose to Rs 2 lakh a month and his expenses doesn't increased much. So automatically his saving will increase drastically.

So if you are earning less and not able to save much, the best thing to do is to increase income rather than trying to save more. We hear so many finfluencers talking about saving so much to get this much corpus. But we usually forget that having more income is the first thing to go about.

People how are getting retired early or having financial freedom, for everyone one thing is common. They have earn quite a lot in their early days which was invested and thus they are reaping the benefit now. So in my opinion earning income should be the priority in your early days rather than saving more.