He earned Rs 1.8 lakh a month, lent Rs 22 lakh to friends and family. Then one mistake cost his family dearly, says CA

A man who spent years building wealth and helping others left behind more than Rs 54 lakh in savings. But after his sudden death, his family found themselves struggling to access much of what he had worked so hard to create. The reason was not poor financial planning or a lack of savings. According to chartered accountant Paaras Gangwal, it was the fact that he had never shared the details of his finances with his wife.

Sharing the story on X, CA Paaras Gangwal used the example of a man named Saurabh to highlight why financial transparency within a family is just as important as saving and investing.

A generous man with a strong financial foundation

Gangwal described Saurabh as a 40-year-old employee at a company earning a salary of Rs 1.8 lakh per month. According to the CA, Saurabh was known as "the most helpful person in his circle." Whenever someone needed financial assistance, he stepped in without hesitation.



Over time, he lent Rs 12 lakh to a friend for a business, Rs 7 lakh to a cousin and Rs 3 lakh to a colleague, taking the total amount of personal loans to Rs 22 lakh. Alongside helping others, Saurabh had also built significant savings. Gangwal said he had Rs 8 lakh in fixed deposits, Rs 20 lakh invested in mutual funds and Rs 4 lakh in his bank account, bringing his total savings to around Rs 54 lakh.

One detail he never shared with his wife

Despite being financially responsible, Saurabh never discussed his finances with his wife, Gangwal wrote.
The consequences became apparent after Saurabh suddenly passed away. Only then did his wife realise she had no idea who had borrowed the Rs 22 lakh, which mutual funds he had invested in or where important financial documents were kept.


According to Gangwal, some of the people who had borrowed money also stopped answering her calls, making it even harder to recover the funds."Years of hard work. But because finances were never shared, a big part of the money got stuck," he wrote.

CA Paaras Gangwal's message

Using the story as a financial lesson, Gangwal urged people not to keep money matters to themselves, no matter how well organised they believe they are. His message was simple: "Always share ur finances with ur wife."