Now that you have determined your income levels and have an idea of how much you are saving, it’s time to determine what you are saving...

Most people follow the traditional approach to personal finance: they calculate savings as whatever's left after spending (Savings = Income - Expenses). However, financially successful individuals reverse this formula, determining their expenses based on what remains after setting aside savings (Expenses = Income - Savings).

Most people would answer the above question in the negative. It doesn't matter whether you are earning ₹5,000 or ₹5 lacs a month, almost everyone feels the need to earn more.