Money and Indians have an interesting relationship. Saving is one characteristic of our relationship with money. We Indians, always prefer to take the long-term approach to wealth creation. But at times, the protection of money instinct could be counterproductive. If not planned properly, even the most disciplined saver can suffer financial losses. Recognizing the role of financial planner can prevent you from making the typical errors and even allow you to have your money working as hard as you do.

Our professional experts have sorted out five money blunders that Indians typically make, along with simple ways to steer clear of them.

1. Neglecting the Emergency Fund

Life throws up a lot of surprises. Job loss, medical emergencies, and unexpected expenses can happen anytime. If you don’t have an emergency fund, you can probably end up taking loans at a very high-interest rate. Experts suggest that a liquid account should have six to seven months of income as the emergency fund. This fund is not to be used until it is a very urgent need. And so, it is a financial lifeline.

2. Underestimating Insurance and Retirement Planning

Insurance and retirement plans are not for the young and that is the thinking of the majority of the young Indian populace. To the contrary, early planning is an absolute necessity. Finranite, the best financial planners in India will help you secure the right term insurance and retirement funds according to your age and aspirations.

Term life insurance can be had quite cheaply when you are young and in good health. Hitting the age of 40 or 50 brings with it steep increases in premiums. Likewise, the process of money in retirement plans is to be delayed only for a short time, thus ensuring sound financial health in old age or golden years to come.

3. Delaying Investments

The beginning of a career is often the time to delay the choice of investment. Usually rent, loans, and other living expenses come first. Each month of waiting is a month of lost compounding. Even small and regular investments made early can defeat larger investments started later. 

The main thing is to begin now, spread out your investment, and ultimately gain from your money. Most of the Indian financial advisors put the same stress on the importance of long-term and consistent investments over short-term speculations.

4. Sticking Only to Safe Investments

Though fixed deposit and small savings schemes are considered very safe, their returns hardly exceed inflation. This simply means that your money will barely grow in the long run. To really create wealth, consider a combination of investment instruments like mutual funds or ULIPs. The investments should be made according to your goals and risk tolerance. Smart planning will ensure that your money is not only secure but also grows steadily.

If you are still in doubt about which investment is right for you, then knowing what financial planning means can be a real turning point.

You may also Read: Mutual Funds vs Direct Stocks — Which Is Better for You in 2026?

5. Failing to Build a Credit Profile

Credit does not mean only borrowing money. A good credit history can be a factor that attracts you loans with better interest rates and also gives you more leverage in your finances. Timely repayment of credit card bills and loans contributes to a good credit score creation. 

Final Approach

Avoiding those mistakes is not luck but alertness, self-control, and good advice at the right moment. A financial advisor will reveal the truth, monitor your progress, and help you choose the safest route for your money to grow without taking unnecessary risks.

Understanding the role of financial planner can shift the trajectory of your finance entirely and, therefore, lead to the making of right choices while avoiding mistakes that are costly. Don’t procrastinate; do it now – your financial situation, set your goals, and invest in your future.

Do not let others to decide for you when it comes to your financial future. Contact our experts at Finranite and start building a strong, growth-oriented plan today.