5 simple, yet powerful lessons in personal finance:

(1) Save more.

To paraphrase Morgan Housel: Your savings is the difference between your earnings and ego.

So the next time, you are itching to buy a new phone, ask yourself: do you really need it?

(2) Live frugally (by cutting down EXPENSES, not INVESTMENTS)

These days I buy clothes from Decathlon. The reason is very simple: they manufacture some of the best products at the lowest available prices.

While I am not a staunch practitioner of minimalism, I would advocate that spending money of commodities like cars, clothes, grocery buying should be kept at the minimum.

(3) If you don't invest, you will lose money (100% guaranteed)

If there is 1 thing, just 1 thing that you should do as a side gig-- it should be to learn how to invest.

Depending on the economic cycle, you will lose money if you are putting in bank deposits.

If your bank could tell you how much money you lose each year, you would be terrified.

(4) Eat more home cooked and heathy food.

If you delete food apps from your phone. You will save 10 years of your life. And, add 10 years worth of energy.

The chain of logic is very simple: poor eating -- poor health -- less effective you become both personally and professionally.

Food apps are the worst invention of our generation.

(5) Spend money on experiences and (wise) investments.

Investing in an MBA from Ivy Leagues or from Top business schools are the best investments. Contrary to popular belief, Brands DO matter!

Credits: Akshat Shrivastava