6k rent, 50 for home, 8k personal (food travel etc) .

Procurement

@Kic no I meant
self kharcha (rent,electricity, food , travel etc)
ghar alag
invest, and savings account

in sabke percentage btao

Category Manager

Half my salary goes into investing & liquid funds The rest I will use it to take care of my needs and parents. 
 I am a simple guy, don't spend much on fancy clothes. I only spend my money on: 
 Gym membership: 1500 per month. 
 Clothes:2k(some times I don't buy them) 
 Food ,video games and ott platforms: 2k-3k 
 I make sure to keep my overall personal spending below 6k. 
 Major chuck of half of my salary goes into groceries, rent.Buying stuff for my parents,my doggo& responsibilities etc..which will cost me around 30k - 50k. 
 As of now I live with my parents,I will be moving to Bengaluru.My expenses is expected to increase.

Machine Learning Engineer

The ideal ratio is  
 50% On needs  
 30% on fun 
 20% savings & investing.  
  
 If you’re not able to fulful the needs of you and your family, you can adjust the percentages between needs and fun without touching the 20% of investments

Software Developer

Khud k liye kharcha Ghar bhejna k liye alag Invest k liye alag Savings k liye alag  What is the ideal percentage for the above?

Khud k liye kharcha
Ghar bhejna k liye alag
Invest k liye alag
Savings k liye alag

What is the ideal percentage for the above?

How Do You Guys Manage your finances

How Do You Guys Manage your finances- Grapevine

Welcome to Software Engineers's Private Community

Hi,

I have been working in the Software Industry for the past 9 years. I feel like I have made a good use of my time and money and maybe some of my lessons can help you folks as well. Recently did a calculation for my NW and I am happy and proud to see my NW crossing 2CR+. I have 0 debt and do not own a house. Here is how my portfolio look like

TC: 1.3 Cr
YOE: 9

I am happy to do an AMA. Ask me anything about tech, career, love, marriage, money management, therapy, songs and movies.
#Ask Me Anything #ama #amazon #atlassian #google #startups #bengaluru #networth #money management #finance #india

Sorry if delay in responses, I'll answer all your questions eventually.

[AMA] 9 years in Software Engineering in India. NW 2.5Cr

I see a lot of similar questions and I'll try to answer them here.

>>>>>>CTC Progression<<<<

My current CTC is 1.3CR . 50% is cash, 50% is stocks.

Here is my CTC progression over the years

1st - 12L
2nd - 12L (Switched Companies)
3rd - 15L 
4th - 24L (Switched companies)
5th - 42L (Switched Companies)
6th - 48L
7th - 66L
8th - 72L
9th - 1.3Cr (Switched Companies)

As you can see I almost everytimg doubled my compensation when I switched my companies. But there are reasons to stay at a company as well. If you are learning and are able to handle different problems at scale, stay. When you feel stuck, leave and look for better opportunities. I have never switched job to get more money. I love CS. I have been coding since 15 years. What made me switch was either bad managers, uninteresting problems not visibility of learning and growth.

Software Engineer

Welcome to Personal Finance's Private Community

What is your preferred approach for safe keeping your savings?

How much would you allocate for emergency fund?
How much would you allocate for investment (shares/mutual funds/ gold/ bonds)?
How much would you allocate for dead assets (property/ land)?

Savings break-down

Solution Architect

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?

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

What is the biggest expense, how much do you save and how much do you invest

How much do you save per month?

Analyst

Product Manager

Hi folks,

We, as a family of two, roughly save 50-60% of our salaries every month. Amongst the savings, 95% goes to equity mutual funds (index). We don’t have any other hard asset and stay on rent in a tier 1 Indian city hardly without any EMI and planning to expand the family soon.

I was wondering, 

1. how are we doing in terms of personal finance, and,
2. what are the typical savings rate and equity (or other asset) investment allocation rate for others?

Savings rate and investment allocation rate

Quantitative Research

Hey folks, I'm a recent graduate, got a job at a startup and the base will be <15, >10. Shifted to Bangalore (more like returning after 6 years, lived for 4 years before that). 

Since I'll be starting my full time journey soon, I want to know how you guys split your take home salary into needs, wants, luxury, savings, investing etc. 

Currently, I'm in a rented flat in HSR (my split is 7k) and will rent out/buy some home appliances. Food would be around 10k a month (no maid, all outside).

I just want to know your experiences on spending and handling money. Not that I'm bad at it, but this is the start of my journey and I would like to know how other people manage their money, so I'd know if I have to tweak some things. 
Do tell any strict DOs/DONTs, common mistakes.

How do you manage your money? (SDE version)

Intern

Hi, I am 25 years old and I live in Bangalore. I make around 1.35L pm and I’m struggling to understand how much to save or invest in a month. I understand the 50 / 30 / 20 rule but feel like using 50% of my income on needs is a lot. 

I also do not understand if I should have a different pot for savings (liquid) and investments or if I should be putting aside all my extra money on investments. Also how much is a decent amount to spend on rent + food + lifestyle etc. 

I like living open heartedly but also feel immensely guilty after splurging too much. 

How much do you think I should be saving in a month, realistically?

How much should I be saving/investing in a month

Product Marketing Manager

How much percentage of the salary a person should give in investments?

Investments from Salary

Associate Product Manager

Hello, i’m planning to buy house and need suggestion. People who bought houses in premium or normal gated communities can you share your good and bad points about these gated communities? How are you managing high emi, school fees, building maintenance fees, personal health and monthly groceries.  How much money will be saved every month?

Suggestions on gated communities

Cloud Consultant

Coming from Middle class family, I have hardly seen any investment strategy or advice from my parents. But to all youngsters, please start investing early in your career, rather than pushing for new home & expensive cars, iPhones. Don’t need to invest in stocks & trading but start a step-up SIP with 500₹ Small Cap MF, that will support you in long term.

Invest early

Engineering Manager

So, I have started investing in MFs. Started from very low amt of 7k pm which is divided into 3 parts: Large Cap: 2.5k, Medium Cap: 2.5k and Small Cap: 2k. 

MF Invested: Icici bluechip direct growth, HDFC mid cap direct growth and Quant small cap direct growth

My financials: 
Fixed: 8L

Now my question is, in coming 6 months by what amount or % should I increase my monthly SIP.

Back again asking for investment tips from the veterans

Infrastructure Engineer

I did the all the calculation of my earnings, savings and expenses recently and got some insights that I thought of sharing and wanted  how others plan or track these thing on there end.

Started earning in Jan 2022 as an intern and later in July started my full time career.

Post Tax Income till Dec 2023 : 27Lakhs
Tracked Savings: 19Lakhs approx
Net Saving %: 70%

And I think this would not be possible if it was WFO.🙂

What are your thoughts?

Lifetime Earning & Savings

Every month my salary gets credited I barely spend 20% of it the rest of it is just sitting around in my bank account it's already above 5L. I keep thinking of investing it in stocks/mf but it's a lot of work 😔 

What do you guys do with your salary, it would be great if you can share your investment strategy and how do you keep yourself motivated to stick to it

What should I do with my money

Hi All, I need advice on how to invest my savings, don't have much to save but can save 3-5k a month, what will be the best option to invest the amount regularly. Kindly suggest.

Advisory

I will complete 3 years as a professional soon. Quit a Big4 to join a startup for better pay and faster growth but despite putting in my best work and leading initiatives, going above and beyond all the time, my peers are all earning better than me doing similar jobs.

i never had a financially aware upbringing. my father put us through hell due to his bad decision making and despite me being very financially savvy, am unable to save any money because im so anxious I tend to spend what I dont have. i had to take up a lot of freelancing to aid my lifestyle but now im busy all the time and have no time to myself. 

idk what to do. idk how much savings my parents have since I live away from them and dad never discusses his larger financial plans with me. he also does not have a stable job even at his age even though I know he is v hardworking and does his best. i feel i will never have enough money to support my parents and myself and feel like im running out of time. also doing interviews to leave this shitty company as well which is lowballing tf out of me. im not sitting idle at all, trying to startup on the side as well. i workout, eat and sleep healthy, have a great social life. the only problem is money which im constantly worrying about. i feel its a generational curse passed down to me. I know I have 10x earning capabilities but its all so vague and uncertain. I have an amazing support system and I know I can talk to my friends about this too. just thought of coming here first

please share stories if youve ever felt this way. open to advice feedback ideas. how did you get out of it? what can I do? 

what are some business/sales roles that pay really well that I can get into as an ex-big4 analyst? i dont think my current profile translates well anywhere. f*ck this company honestly. probably the worst decision I made coming here :(

[rant] 24 year old anxious about his financial future

Marketing Associate

I've completed 1 year in my first job. I've tried saving and investing some money, help me decide what I can do better:

Income: 22LPA

PPF: 3 Lakh
EPF: 2 Lakh
MF: 5 Lakh
Saving Account: 4.5 Lakh

Income for new FY post increment: 29LPA

I did these savings based on some advice from my elder brother.

I'd like to spend more this year though, with some travel and going out more, maybe even purchase a scooty/bike and a PS5 😁 - would these expenses be justified?

Apart from improving my savings & investments and 
still being able to afford a few luxuries, I want to know if I should get any of these:

- Health Insurance - Only 5 Lakh cover from company for me and my parents (note - parents are getting old)
- Life Insurance - Do we really need it, I'm still 24?

How Do You Guys Manage your finances

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