Financial Advisor Advocates Saving 95% of Income: A Frugal Approach

In a financial landscape increasingly dominated by consumerism, Akshat Shrivastava, a financial educator and investor, has garnered attention for his unconventional money management philosophy. Despite experiencing significant salary increases throughout his career, Shrivastava has successfully saved up to 95% of his income by adhering to a frugal lifestyle and making informed financial choices.

Shrivastava began his professional journey with a modest monthly salary of ₹10,000. Living with his parents and opting for home-cooked meals, he managed to save ₹1,000 to ₹2,000 each month. His financial discipline laid a strong foundation for future savings, allowing him to remain debt-free and cultivate healthy saving habits early on.

His financial trajectory shifted dramatically when he secured a corporate position with an annual package of ₹50 lakh. Rather than succumb to lifestyle inflation, he maintained his frugal habits, continuing to save around ₹20 lakh annually. This disciplined approach enabled him to invest in high-growth opportunities, which subsequently generated passive income, accelerating his journey toward financial independence.

Now a family man based in a high-cost city, Shrivastava claims to still save 95% of his income while enjoying international travel. He attributes this remarkable achievement to a foundational principle: “Don’t buy something once unless you can afford to buy it twice.” He emphasizes that this mindset is crucial except when it involves investing in personal development.

“The vast majority of people experience lifestyle inflation as their income rises,” Shrivastava stated. “However, I refuse to allow my lifestyle to inflate faster than my income.” His post on social media resonated widely, garnering praise for its financial discipline and long-term perspective.

Nevertheless, some critics argue that maintaining such a high savings rate may be unrealistic for many individuals, particularly in the context of stagnant wages and escalating living costs in India. Yet, the central message of Shrivastava’s philosophy about avoiding impulsive purchases and prioritizing financial literacy struck a chord with many.

Shrivastava’s insights underscore the importance of cultivating mindful financial habits from an early age. He concluded his post with a clear directive: “Build wealth not by chasing trends but through steady, mindful financial habits. Save, invest, and live below your means—even as you earn more. That’s how you win long-term.”

As financial literacy becomes increasingly essential in today’s economy, Shrivastava’s approach serves as a compelling case study for individuals seeking to improve their financial well-being. His story illustrates that with discipline and foresight, it is possible to navigate the complexities of modern finance while achieving significant savings and investment goals.