In a world where most people chase wealth but few truly understand how money works, Chartered Accountant Nitin Kaushik has simplified the financial game with a viral post on X (formerly Twitter). His post, titled “7 Financial Terms Everyone Must Know to Get Rich,” breaks down key money concepts that can transform how individuals approach saving, spending, and investing. Advertisement

Kaushik began by emphasising the importance of net worth — calling it a person’s “real financial report card.” He explained that net worth is the difference between what you own (assets) and what you owe (liabilities). The goal, he said, should be to push that number higher each year through consistent saving, investing, and debt reduction.

The second concept, liability, represents debts that pull down one

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