'Shame won’t pay bills, clarity will': CA shares 90-day formula to recover from financial mistakes

Smart financial planning is not just about big investments or long-term goals — it’s about the everyday choices that quietly shape our stability. Yet, even the most careful among us can slip. Bills pile up, balances dip, and mistakes happen. What truly defines the outcome is not the misstep itself, but how we respond to it. Instead of panicking or losing hope, financial experts say the real strength lies in picking up the pieces calmly and stitching life back together — one step at a time. 

That message was powerfully underscored by chartered accountant and financial educator CA Nitin Kaushik, who recently shared a candid and widely resonating thread on X, formerly Twitter, on rebuilding finances after a setback. 

Kaushik began by addressing a moment many know all too well — finally checking a bank balance after days or weeks of avoidance. The anxiety, he noted, is real. But he stressed that money mistakes don’t ruin lives — silence and denial do. His advice: pause, breathe, open the banking app, and face the numbers without judgment. Guilt, he said, won’t clear dues, but clarity can transform the next six months. 

One of the biggest errors people make after a financial shock is trying to fix everything at once, the CA explained. The human mind, he reminded, isn’t built to juggle dozens of problems simultaneously. Instead, he urged people to focus on one clear priority — whether that’s stabilising essential bills, tackling high-interest debt, or rebuilding savings. Scattered effort creates noise; focused effort creates change. 

Before rebuilding, Kaushik emphasised the need to stop financial bleeding. Forgotten subscriptions, unused apps, and dormant memberships often drain money silently. Reviewing SMS alerts and UPI histories, he said, can reveal leaks that are easier to fix than expected. Sometimes, financial stability isn’t about earning more — it’s about removing what’s quietly pulling you down.

Once expenses are under control, Kaushik advocates creating a temporary recovery budget. Not as a punishment, but as a support system — much like using crutches after an injury. A tight two-month plan, he noted, is far better than drifting into a two-year financial crisis. 

He also highlighted the underestimated power of small, automated actions — a few hundred rupees a week toward savings or loans. While these amounts may seem insignificant, Kaushik said they rebuild something crucial: trust in oneself. Consistency, he stressed, will always outperform motivation. 

For faster recovery, Kaushik suggested a short, time-bound side hustle — a three-month sprint rather than a life overhaul. Weekend freelancing, tutoring, delivery work, or selling unused items can often repair financial damage more effectively than elaborate long-term plans. 

Perhaps his most difficult truth was also the most honest: you cannot rebuild while maintaining the lifestyle that caused the setback. During repair mode, he said, stepping back is not shameful. In fact, humility saves money, while ego burns it. 

Kaushik urged people to look beyond numbers and examine patterns — emotional spending, stress purchases, or lifestyle pressure. Understanding the “why” behind financial mistakes, he said, is essential for lasting change. Even a small emergency buffer of ₹500 to ₹1,000 can prevent panic-driven decisions and protect hard-earned progress. 

Ending on a deeply human note, CA Nitin Kaushik reminded readers to forgive themselves. Financial missteps don’t make someone irresponsible — refusing to learn from them does. Shame freezes growth, but self-respect fuels recovery.