sqrrl-blog-personal finance explained in 5 sentences


This is the most important lesson anybody can learn in personal finance which is why it is number one. Spending less than you earn sounds so simple on paper yet most people find themselves living paycheck to paycheck or buried in debt.

Take a step back and look at your monthly spending habits to separate wants from needs. Evaluate your routines and look at where you can begin to cut cost.

This will save you stress, help eliminate your debt, increase your retirement savings, and allow you to enjoy life more.

The best time to start was yesterday, the worst time to start is tomorrow.

Whether it be investing, paying down debt, or simply getting your finances in order, it is always better to start today than to never start at all. The earlier you can start setting good financial habits, the faster you can retire.
The millennial generation has the most to gain from starting early as we have time on our side. The difference between starting at the age of 22 and 30 can be the difference between 50,00,000 and 1,00,00,000. Which amount would you rather? Take advantage of the power of compounding and begin successful habits today.

“Personal Finance is 20% knowledge 80% behaviour” – Dave Ramsey

This is probably my favourite personal finance quote. Financial freedom cannot be achieved without these two elements but it is ultimately up to your behaviour and commitment that will help you achieve your goals.

Income does not determine wealth.

It does not matter if your salary is 50,000 or 10,00,000; what matters is what you do with that money. A person may make more money than you but if they spend all their money on pleasing their friends and enjoying the luxuries of life they are most likely living paycheck to paycheck.
While a higher income certainly helps in attaining your financial goals faster, the amount you save and invest will ultimately determine what your wealth is, not your income.

Do everything in moderation.

Most importantly, and something I heavily believe in, is to enjoy life at all stages. Many of the tips on this list have a lot to do with saving money and putting everything into a retirement account, or a fund. This often comes across as making your life a boring spectacle where you go to work, come home, sleep, and repeat.

This is the furthest thing from the truth but everything needs to be done in moderation. If travelling sounds like a great idea then by all means go for it, but do what you should do is go and set up a budget account for it. You do not need to take the enjoyment out of life to get your finances on track, you just need to remember your goals and stay committed.

You can download the Sqrrl app from the Apple App Store or the Android Google Play, follow the quick 4 steps shown when you open the app and voila! You’re all set on your journey to Save, Invest and Prosper.

“Though small was your allowance, you saved a little store, and those who save a little shall get a plenty more.” On this savings note, we wish you a happy and a prosperous journey ahead.


  1. Brief and concise statement. Easy to memorize and remember. I agree with “Do everything in moderation”, you must enjoy every stage of your life while saving up for retirement.


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