I'll be moving to Mumbai (Andheri East) next month.
I'll be earning 80K PM after tax and this is how I'm thinking of dividing my finances. Please give your inputs.
Fixed:
1. Rent - 18K (PG)
2. Food - 4K
3. Electricity - 3K (estimating)
4. Travel - 3k (worst scenario, home to office - Rs 100, 3 days a week - 600/week)
5.Groceriess - 2K (Not sure because in a PG but considering it)
6. Internet - 1K
7. Lifestyle/Misc - 10K (I don't party much, most of this will spent in misc and exploring Mumbai etc)
Total - 41K
Savings - 39K/40K
1. 25K in savings bank account (i need to have this because I'm scared of emergency stuff)
2. 5K MF
3. 5K PPF
4. 4K/5K - sending home
Is this good?