With conversations surrounding financial literacy and women’s empowerment taking the wheel this decade, many people are realising the need to build a strong foundation for financial discipline. In a recent episode of the Humans of Bombay podcast, Tejasswi Prakash shared her thoughts on choosing financial intelligence over a flashy lifestyle to keep up with the entertainment industry’s unrealistic standards.
“Financial intelligence is so important. Like, the first thing I bought when I started making money was a house and not a car, which many people will not be able to resonate with. And I know for a fact that a lot of people have got a car before a house because obviously that’s a lot more expensive,” she told the host Karishma Mehta.
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According to Prakash, now it’s just “easier to get a car and afford a certain lifestyle” if you are a part of the industry, which she has never taken seriously. “I don’t need to prove to you what my worth is,” added the Naagin actor.
What is financial discipline?
According to Mukesh Pandey, Director of Rupyaa Paisa, financial discipline is the ability to make sound financial decisions, and always to be within budgets, avoid impulsive spending, so that all the while, one is steadily moving toward set goals. “Practicing financial discipline is not coming up with ways to save money but creating certain habits that consolidate one’s position in terms of finance, increase it, or keep that person secure,” he said.
It might feel tempting to give in to that impulse purchase, especially if your current social circle belongs to a lifestyle you struggle to keep up with. That’s where financial discipline and education steps in, preventing you from making money mistakes that can cost you and your wallet in the long run.
How can you get started?
Rayan Malhotra, CEO, Neofinity, suggested these five simple hacks to get your financial priorities in order:
1. Only buy it if you can buy it twice: If you can afford it once, you’re surviving it. If you can afford it twice, you’re choosing it. This isn’t about being frugal—it’s about creating margin. A gap between impulse and intention. A space where real choice lives.
2. Define your ‘Enough Number’: Revisit it every quarter. How much is truly enough to live well today? Not for your imaginary future self on a yacht. For you—now. Growth without grounding becomes greed. This number isn’t a goal. It’s an anchor.
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3. The 24-Hour Desire Rule: Want something? Sleep on it. Still want it tomorrow? Go ahead. Forgot about it? It was just noise in your feed. This rule protects your focus as much as your wallet.
4. Monthly Emotional Budgeting: Not “Where did my money go?” Ask: “How did it make me feel?” Track transactions not just by amount, but by emotional cost. Regret is expensive. Alignment is rich.
5. Time is the real currency: Spend accordingly. Every swipe, tap, or order converts it into hours of your life. How long did you work for this? Is it worth that? You don’t spend rupees. You spend time.
