‘The more you spend, the more you earn’: Financial advisor warns against dumping money in SIPs and shares his father’s controversial money advice

What if saving every rupee is not always the smartest way to build wealth? Financial advisor Prem Soni has challenged the conventional advice of cutting every expense, investing aggressively and prioritising financial security above everything else. Sharing a lesson he learned from his father, Soni argued that spending on things that genuinely improve your life can sometimes fuel ambition and encourage people to earn more. His unconventional take has sparked a wider debate about saving, spending, ambition and building wealth.

‘The more you spend, the more you earn’

Prem Soni, a financial advisor, took to X to share what he described as his father’s “worst financial advice”. He acknowledged that the idea goes against what many finance books traditionally teach, but argued that there is a psychological side to money that is often overlooked.

According to Soni, his father believed that “the more you spend, the more you earn.” His reasoning was that constantly training yourself to be satisfied with less could eventually reduce your motivation to pursue higher earnings.


Soni explained that when someone becomes comfortable with a smaller lifestyle, their hunger for growth can weaken. By contrast, spending on things they genuinely value can create a stronger desire to improve their income.

Two families, two approaches to money

To explain the difference, Soni described two hypothetical families. The first family saves almost everything. They rarely eat at restaurants, do not take vacations and may continue using the same scooter for decades. Their desires are repeatedly postponed for some future date.


The second family, which Soni said resembles his own father’s approach, spends on good food, quality clothes, a decent car and travel. Soni pointed out that society generally views the first family as financially disciplined. Young people are often told to reduce their lifestyle, avoid unnecessary purchases and invest every available rupee. But his father viewed extreme restriction differently.

Why Soni says extreme saving can affect ambition

Soni argued that constantly forcing yourself to live with less can influence how you think about money and success. When people become comfortable with a smaller lifestyle, he suggested, their desire to earn more can gradually weaken. He described excessive contentment at the wrong stage of life as “a sedative” because it can reduce the urgency to pursue bigger goals.

His alternative is to spend thoughtfully on things that genuinely matter. According to Soni, experiencing a better lifestyle can change the question people ask themselves. Instead of wondering, “How do I save Rs 500 today?”, they may start asking, “How do I earn another Rs 5,000 tomorrow?” For him, the question itself can influence the direction of a person's financial journey.

But Soni is not advocating reckless spending

Soni's argument comes with an important qualification. He stressed that spending more does not mean living extravagantly or taking on debt simply to maintain a lifestyle. He advised people not to use borrowed money for lifestyle expenses or purchase depreciating products merely to impress others. Instead, he suggested spending on “slightly better things that you can afford”, such as a decent car or a comfortable home. The distinction, according to Soni, is between spending intentionally and spending recklessly.

‘Saving protects what you already have’

Soni also drew a distinction between saving and ambition. He argued that saving can protect existing wealth, while ambition creates the potential for new wealth. Saving therefore remains important, but he cautioned against making financial restriction the entire foundation of one's identity.

Otherwise, he said, people could end up “building a comfortable cage and calling it discipline.” His point is not that SIPs, fixed deposits or savings are bad. Rather, he believes they should not replace the effort to increase one's earning potential.

Why Soni says young people should focus on active income

Soni particularly directed his message at people who are young and starting their careers. He argued that this stage of life should be about developing skills, increasing income and creating opportunities rather than immediately focusing only on passive income. His advice was blunt: “Don't jump to passive income from the start.”

Instead, he encouraged young professionals to remain ambitious, tolerate some discomfort and build something that pays them for their skills. For Soni, the bigger financial goal is therefore not simply reducing expenses. It is creating the ability to earn substantially more over time.

The difference between discipline and deprivation

Soni's post ultimately questions whether extreme frugality should always be celebrated as financial discipline.
His father's approach, as described by Soni, was to enjoy a reasonable standard of living while maintaining the motivation to work harder and earn more. The lesson is not to spend without limits, but to avoid confusing deprivation with financial wisdom.

As Soni put it, “Save, yes.” But he believes young people should also remain hungry enough to build active income, develop valuable skills and create the wealth they do not yet have.