The Economic Times

One money mistake and 70% salary lost: CA warns about the financial trap that makes 'wealth creation' difficult

Chartered Accountant Nitin Kaushik has warned that many salaried professionals are losing control of their finances because expenses move faster than income. In a recent post, he said urban workers often commit nearly 70% of their salary to EMIs, rent, and credit card payments within the first 10 days of the month. Kaushik added that treating investments as a leftover activity instead of a fixed priority is hurting long-term wealth creation.