Money Mistakes Indians Must Avoid: Real Talk with Sanjay Kathuria 💰✨

Key Highlights:

• 💡 Mindset is the biggest factor behind building wealth.

• 🛡️ Emergency fund and insurance are essential first steps.

• 🎯 Setting clear goals and investing consistently leads to wealth over time.

• 📚 India’s education system doesn’t teach practical money skills, so self-learning is crucial.

• 🏠 Housing has become less affordable as prices rise faster than incomes.

• 🛑 Avoid get-rich-quick schemes and scams; patience and discipline matter most.

• 🔐 Use trusted platforms and stay safe online to protect your investments.

I’m Adesh Saxena, and I’ve spent the last 14+ years diving deep into digital marketing across IT, data, and cybersecurity. Over time, I realized something vital—not just about marketing or tech, but about life itself. It’s about money—how it shapes our choices, our peace of mind, and our future.

Today, I want to share with you some life-changing insights from a recent podcast I listened to: “Money Mistakes Indians Must Avoid” featuring Sanjay Kathuria, hosted by Neharika Sharma on the Hype By Neharika channel. It’s a long, rich conversation (almost 2 hours!) packed with practical wisdom, so if you missed it, don’t worry—I’ll walk you through the highlights and share my own story along the way.

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Why Should You Care About This? 🤔

If you’ve ever felt stuck financially, worried about your savings, or confused about where to invest—this post is for you. Sanjay Kathuria’s journey from a finance rookie to mentor is inspiring and packed with lessons that I wish I’d learned years ago.

Have you ever wondered why some people seem to grow their wealth effortlessly while others struggle no matter how hard they work?

This is the kind of talk that answers those questions and shows you a path that anyone, yes anyone, can follow to build wealth steadily.

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My Personal Money Wake-Up Call 🚨

Before I jump into the lessons, here’s a bit about me. Back in 2020, I faced a sudden financial loss of over ₹1 crore. Yes, that’s a lot—and it shook my world. It wasn’t just about money; it impacted my professional confidence and personal life too.

But here’s the silver lining: that low point pushed me to educate myself on money like never before. I studied the works of top finance gurus—Robert Kiyosaki, Tony Robbins, Dave Ramsey, Ramit Sethi, and others. I realized that financial literacy isn’t just about numbers; it’s a mindset, a habit, and a skill you build over time.

Sanjay’s podcast echoed everything I had learned and gave me fresh insights on how to avoid common pitfalls, especially in the Indian context.

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💡 Did You Know?

Only 10% of people in the world control 90% of the wealth—not because they earn more, but because of their mindset and habits!

It’s true. Your financial future depends more on how you think about money than how much you make.

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The Mindset Shift: The Real Game Changer 🧠

One of the biggest points Sanjay makes is that mindset is the foundation of wealth. Most Indians focus only on increasing income but overlook how they think about and manage money.

Ask yourself:

• Do you believe money is scarce or abundant?

• Do you think only the rich can grow rich, or can anyone do it with the right habits?

• How often do you educate yourself about money management?

Sanjay highlights that in India, the education system completely skips teaching practical financial skills—no budgeting, no tax planning, no risk management. Many MBA grads still don’t know how to handle these basics!

This means you and I have to take charge ourselves. Learning about money through books, podcasts, and mentors is non-negotiable if you want to break free from money worries.

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The Basics You Can’t Ignore: Emergency Funds & Insurance 🛡️

Before chasing big investment returns, Sanjay stresses the importance of protecting yourself from risks:

• Build an emergency fund that covers at least six months of your expenses.

• Get adequate health insurance to cover medical emergencies.

• Buy term life insurance to secure your family’s future.

I can’t stress this enough. When I faced that massive financial loss, having a safety net would have saved me from a lot of stress. Without these protections, any sudden expense can push you into debt, no matter how much you earn.

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Setting Realistic Goals & Sticking to Them 🎯

Here’s a question for you: What are your financial goals? Do you have a clear target?

Sanjay says most people fail because they don’t set clear, measurable goals. They chase shiny quick-rich schemes promising huge returns in a few months. Spoiler alert: those almost never work.

Instead, think long term. For example, aim for a ₹3 crore corpus in 15 years by investing a steady monthly amount. This steady, disciplined approach harnesses the power of compound interest—your money making money over time.

I personally follow this method, and trust me, it’s more powerful than any shortcut.

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Housing: The Unaffordable Dream? 🏠

In India today, owning a house is becoming harder than ever. Why? Because housing prices have skyrocketed, outpacing income growth.

Sanjay explains that while earlier housing cost around five times a person’s annual income, now it can be 12-13 times in cities like Noida.

This means if you overstretch your budget on a home, you might end up financially trapped.

My advice? Buy a home you can comfortably afford within about 5 times your annual income or consider renting until you can. This is a lesson many learn the hard way.

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Beware of Greed & Quick-Rich Traps 🛑

Have you ever been tempted by a “too good to be true” investment scheme on WhatsApp or Telegram? You’re not alone.

Sanjay shares that many Indians fall prey to social media scams promising unrealistic returns. Greed and impatience push people into risky investments or outright fraud.

Even Sanjay faces impersonation and fraud attempts regularly.

Remember, if it sounds too good to be true, it probably is.

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Small Habits Matter: Budgeting & Expense Tracking 💸

A lot of us don’t track where our money goes. We waste money on unnecessary subscriptions or impulsive online orders.

Here’s a quick tip Sanjay gave: Link your UPI to a fixed account with limited funds so you don’t overspend.

When I started tracking my expenses closely, it was eye-opening how much small savings added up over time. Those small wins helped build my emergency fund and investment corpus.

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Credit Cards: Friend or Foe? 💳

Credit cards can be a great tool if used wisely:

• Keep your utilization under 30-40%.

• Always pay your full dues on time.

• Use cards to build a good credit score and enjoy benefits.

Misusing credit cards leads to debt traps and damaged credit, so be mindful.

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The Creator Economy: A New Avenue for Income 🎥

Did you know content creation is becoming a big source of income in India? The creator economy offers opportunities beyond traditional jobs.

Sanjay mentions that success here requires authenticity, consistency, and execution—no shortcuts.

If you’re interested in building a side income or a full-time career in content, this might be your path.

 Long-Term Investing in the Stock Market 📈

Many see the stock market as gambling, but Sanjay advises treating it as a long-term wealth-building tool.

Quick trading often leads to losses. Instead:

• Invest regularly with clear goals.

• Ignore short-term market fluctuations.

• Diversify across large, mid, and small-cap funds according to your risk tolerance.

• Withdraw only when your goals are met.

 Resilience Is Key to Financial Success 🏆

Here’s something that really struck me. Sanjay emphasized resilience—the ability to bounce back from failures—as a key success factor.

Remember Michael Jordan? Even he missed way more shots than he made. But he kept going.

Financial setbacks will happen. The difference is in how you learn, adapt, and persist.

 Life Events Need Financial Planning 🎉👶

Weddings, children’s education, buying a home—these major events can drain finances fast.

Sanjay advises advance planning and budgeting to avoid stress and debt.

 Protect Yourself Against Fraud 🔐

As more investments go digital, be cautious:

• Use trusted brokers.

• Verify apps before investing.

• Never share OTPs or account passwords.

I learned this the hard way—one careless click can cost you dearly.

 My Takeaway from Sanjay Kathuria’s Podcast 🎧

The podcast with Sanjay Kathuria, hosted by Neharika Sharma on the Hype By Neharika YouTube channel (premiered June 13, 2025), is a treasure trove of real talk about money.

If you missed the full episode, don’t worry—you’ve got the key insights here to start improving your financial life today.

 Famous Quote That Resonates with This Topic 💬

“Do not save what is left after spending, but spend what is left after saving.” — Warren Buffett

This quote perfectly sums up the mindset we need to cultivate. Saving isn’t just leftover money; it’s a priority that drives your spending habits.

 So, What Should You Do Next? 🎯

Here’s a simple checklist to get started on your journey toward financial freedom:

• Start building an emergency fund today.

• Get adequate health and term life insurance.

• Set clear, measurable financial goals.

• Educate yourself continuously about money.

• Avoid scams and get-rich-quick schemes.

• Track your expenses and budget monthly.

• Use credit cards responsibly.

• Consider investing long term in SIPs or index funds.

• Build resilience and learn from failures.

 Final Thoughts 💡

Financial success is a marathon, not a sprint. It requires a growth mindset, discipline, and patience.

I hope my story and these lessons from Sanjay Kathuria inspire you to take control of your money, avoid common mistakes, and build a future where you’re financially secure and confident.

Remember, your journey is unique. Start where you are, use the resources around you, and keep moving forward.

 Thanks for reading! If you found this useful, let me know your biggest takeaway or any questions you have about money in the comments below.

 If you want to watch the full podcast in Hindi, watch here:
Money Mistakes Indians Must Avoid | Sanjay Kathuria | Tips to become CROREPATI

(Hosted by Neharika Sharma on the Hype By Neharika channel, premiered June 13, 2025)

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I’m here cheering for your financial success—because when you grow, we all grow!

— Adesh Saxena