What led me towards frugality

I am a software developer in a reputed  MNC in INDIA and i make a substantial sum. You might expect me to flaunt my wealth. But I've embraced a different path: one of frugality and minimalism. In this blog i want to cover what made me accept frugality and minimalism.

Fresh out of college in June 2016, I landed a job at a reputable company. Like many young adults, I was eager to spend my newfound income. I indulged in buying branded clothes and shoes, believing that they would elevate my social status and attract attention from the opposite gender.

However, after a few months, I began to question this materialistic pursuit. While I was still young and naive, I started to sense that these purchases weren't bringing me lasting happiness. Despite this growing realization, I continued with my spending habits for a while longer.

A turning point came when I saved my first lakh rupees around October 2016. Curious about the potential of this money, I calculated the interest it would earn in a year—a modest 6,000 rupees. This simple calculation sparked a deeper thought process.

As a single young adult, my expenses were relatively low. I began to ponder a significant financial goal: saving enough to generate a monthly interest income of 50,000 rupees from fixed deposits (FDs). This would be an annual income of 6 lakh rupees.

At a 6% interest rate, I realized I would need to save 1 crore rupees to achieve this goal. This was a pivotal moment. It dawned on me that the true purpose of earning money isn't merely to acquire possessions, but to attain financial freedom.

Since i was a bachelor, my expenses were not that much. i was earning 50k rupees per month and spending around 12k, I could save and invest around 38k rupees. By calculating the time it would take to accumulate 1 crore at a 6% interest rate, I discovered it would take approximately 14 years. While this initially seemed daunting, it also filled me with hope. I envisioned a future where, by the age of 35-36, I could comfortably cover my expenses with the interest generated from my investments.

Even as a young and inexperienced investor, I was aware of the impact of inflation. Therefore, I aimed to save enough to generate an income four times my current expenses.

Then came the month of january, when i was asked to give investment proofs to get deductions in tax. This was the first time i got introduced to elss mutual funds and equity as a whole. This was a significant development in my life as this was the first time something was available for me to invest in with my limited salary at that time.

 Looking back at it, i think this was the pivotal moment of my financial life as this resulted in me trying to learn about equity investment , At that time , i stumbled upon  this pranjal kamra video for the first time, which helped me to start consuming everything out there about stock markets and finance.

The concept of compounding, where your investments grow exponentially over time, truly resonated with me. Understanding that saving even a small amount today could yield significant returns in the future was a revelation.

From this point onwards, i only spent on what was extremely essential for me, and what can give happiness to my parents. I stopped to spend on anything which had to do with showing others that i have money.


My journey from a  fairly materialistic mindset to a frugal lifestyle has been transformative. It's not about deprivation, but about making conscious choices. By prioritising long-term financial goals and living within your means, i can take control over my time. Now that i am 30, and have a substantial corpus , it gives me immense freedom and peace of mind. I will share the benefits of being frugal and the impact it had in improving the quality of my life in another blog.