Make Epic Money Book Summary

Written by Bhavishya Sharma  »  Updated on: May 11th, 2025

I recently read the book “Make Epic Money” by Ankur Warikoo. It’s a great book if you’re getting started with finance books.

The book covers almost all the basics of personal finance but the book is focused more towards things and options related to India and the Indian market. Well, irrespective of that anyone can read the book till the time you get the intent of the author.


Chapter-1 (Why should I even care about money)

Ankur Warikoo starts by explaining how money came into existence by ending the barter system and what money can get us up to a certain extent given we use that money towards it wisely:

  1. Peace of mind
  2. Health
  3. Quality Food
  4. Safety
  5. Comfort
  6. Options
  7. Courage
  8. Experiences
  9. Freedom

Well, what he wants to tell you is that money is not the goal; it is the cheat code to freedom and living the life you want.


Chapter 2 (Now I really want to earn some money)

Ankur challenges the notion that one job is enough or that your salary can make you wealthy. He says that “your job can help you maintain your living standard and earn a living but can’t make you wealthy.”

Wealth can be generated when one pivots from active income to passive income or maintains passive income while earning active income.

Here are a few basic mistakes we make due to a lack of financial knowledge that keep us far from being wealthy:

  1. No safety net- Not keeping emergency funds or liquid money
  2. Spending more than we earn or spending the money that we haven’t even earned yet
  3. Drowning in loans- Interest rates would create a mountain of debts for you
  4. Playing too safe- Keeping your money in a savings bank account rather than investing.
  5. No future planning- Having no financial goal and trying to be wealthy is like wanting to win a race but not wanting to create a fitness routine.
  6. Getting Greedy- Investing in quick rich schemes or easy gain games majorly turns as we don’t want it to turn, which causes financial losses.


Chapter-3 (So that I can spend it Wisely)

The chapter starts with the author explaining the 50-30-20 rule. So, in case you’re not familiar with the rule. It says:

  1. Need- You spend 50% of your salary against your basic essential needs like rent, EMIs, food
  2. Wants- You spend 30% of your salary towards your wants, like the things you desire or your wants can be shopping or buying a new phone
  3. Savings- You spend 20% of your salary towards your savings

Senator Elizabeth Warren created this rule, but here’s an addition to this by the author:

  1. Whenever you get a raise or increment, instead of again dividing it by 50-30-20, go 20-30-50 (Need, Wants and Savings)
  2. This is because your needs are not going to increase by 50%. There would be inflation, but definitely, it won’t spike the needs by 50%; rather, the bigger chunk will go towards saving.
  3. Adopting this strategy would help you accumulate more savings and would be a great step towards your financial freedom.


Chapter 4 (But people tell me I should save)

Saving ain’t cool, obviously, in the early years of your career, no one wants to start saving because you have a lot of time for it.


Right now is the time to enjoy and spend money. Definitely, you should spend money but there’s no harm in planning and then spending it wisely.

Create your goals: Short, mid and long term goals because without goals you won’t have an aim and you won’t even know how much to save for each goal.

Pen down your goals for next year, 3years and 5years and allocate the money required for each one of them.

Here are bonus tips that might help you to further save more:

  1. Budget: Stick to 50-30-20 rule and save 20% every month
  2. Automate your savings: Opt for auto deductions like SIP or go with EPF deductions so that you don’t get an option to interrupt it.
  3. 30-day rule: If you really want to purchase something expensive, wait for 30 days. Chances are you won’t need it after 30 days and still if you want to then you may purchase it.
  4. Try a fortnightly money ‘fast’: Try to bring your expenses to 0 for 14 days, that would teach you how to look for better and cheaper alternatives when in need. On top of that it would save you a lot.
  5. Choose Debit Cards over Credit Cards: Banks have created this illusion in the world that even a credit card is your money, but no your money is the only money you’ve in your debit card/in your account.


Chapter-5 (And use the money to protect me)

This chapter revolves around how to get started with insurance and with basic things to remember at the time of purchase.


Ankur Warikoo suggests everyone to have:

  1. Health insurance
  2. Life insurance
  3. Emergency fund

Health Insurance:

  1. The author suggests purchasing it at an early age because you would get higher coverage at a cheaper price.
  2. At a younger age, the chances of the insurance getting rejected are low.
  3. Insurance companies incentivize you if you don’t apply for a claim and the probability of you applying at a younger age would be less.


Life Insurance:

  1. The book suggests taking life insurance as well at an early age as the premium charged would be less.
  2. This will protect your family, especially if you’re the main bread earner.
  3. In India, the term/life insurance premium remains the same over time despite inflation, which makes it even cheaper over time.


Emergency Fund:

  1. If you’re starting your career in the early 20s you want it to be smooth rather than starting with debt for unexpected expenses.
  2. Expenses are never-ending and at times unavoidable as well moreover these are the expenses that none of your policies would cover.


Read the full blog: Make Epic Money Book Summary


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