New Delhi, April 18 -- A higher income is often viewed as a fast track to financial security, but a recent LinkedIn post highlighted how that assumption does not necessarily hold true at all times. According to Meenal Goel, a chartered accountant by profession, many individuals earning over Rs.1 lakh a month struggle to build savings, highlighting a gap between income growth and actual wealth creation.

She said that the problem is not how much people earn, but how quickly their expenses rise alongside their income. This phenomenon, often referred to as lifestyle inflation, can block your attempts to build savings even at higher salaries.

"High income doesn't mean you're building wealth. I've seen people earning Rs.1.2L a month and still...