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How to manage salary of 1.4lc per month as a fresher.

Fresh out of college, with no money experience. How to split the money into investments(safe and risky), utilities and other expenses. What percentage savings is good enough. How much of it can I really spend without feeling guilty and what quality of life can I afford with this salary?

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TallTales69

Unemployed

10 months ago

Draw up a budget based on your first 6 months of spend. Mandatory fixed a. Rent b. Utilities c. House help Mandatory variable a. Commute Costs Discretionary Fixed a. Investments Discretionary Variable a. Entertainment b. Shopping c. Travel This'll tell you where your money is going and you'll be able to figure out how to optimise each bucket. If its your first job, don't skimp on having fun with your money. Don't get too cowed down with "investments". Go out, buy stuff, travel, do the things you've always wanted to with your money. Just don't build up a mountain of debt in doing it - enjoy within your means. Good luck!
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PortlyExcuse

Flipkart

10 months ago

Wow, that's a high effort answer Nice person
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SS_Croaker

Unnamed

10 months ago

First learn to spend. By the end of the 6th month you should be broke. After that you will learn how to manage by yourself automatically. (Never lend 1k,5k,10k to people)
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rabri

Goldman Sachs

10 months ago

Why not lend?
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Guide

Stealth

10 months ago

Because it's not lending it's charity cause you never gonna get it back
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well_wisher

Stealth

10 months ago

bhai basics h ye, khana kha , ghr dhund, kpda pehen… kuch sikh aur baaki udda de gareebon me agr well funded background se aata h ni to invest kr
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corporate_jeevi

Deloitte

10 months ago

Initial kuch mahine maze karo. You deserve this
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President_Trump

Stealth

10 months ago

By not asking on a social media platform
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FindingHorses

Stealth

10 months ago

Manage 😀
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FindingHorses

Stealth

10 months ago

Get a simple place to live Enjoy Don't over spend Save / invest
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overthinker

Student

10 months ago

Hey, where did you get place? And what’s your CTC?
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FunnyBones

Plivo

10 months ago

A good problem to have. YouTube will help u out other than folks here
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CouchPotato

Amazon

10 months ago

Don't compromise too much on roti, kapda, makaan. Try to invest/save 50% of your income You will be more than sorted
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ElonTusk

Startup

10 months ago

Inverse the 50-30-20 rule. Invest 50% of your salary. Spend 30% on your needs. Spend the rest 20% on wants.
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Smurfminion

Stealth

10 months ago

Send it to me
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Unique

Unemployed

10 months ago

Initial 5-6 years of investment, has a dramatic positive effect on your overall portfolio when you look back 25-30years. Do select right asset class ( mostly equity ), and be consistent on the initial investment journey. Don't burn money, burn time to study asset classes in initial 4-5 years and then play big as an informed investor. Till then seek professional advice.
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data_nerd

Private company

10 months ago

If I were you, I'd straight up invest 60k in equity (take risk while you are young) as soon as the money hits my bank account. 30k towards building an emergency fund for 6 months of essential espenses. As soon as the emergency fund is built I'll redirect that money to equities. The rest you can allocate to your monthly and daily expenses. This is assuming you do not have any dependents or liabilities.
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