I get a salary of 36000 where in 11000 is my rent and then have to take care of my household expenses and gym expenses. How should I start savings, I am 31 years old with 0 savings.  When I see my ...

Welcome to Personal Finance's Private Community

I get a salary of 36000 where in 11000 is my rent and then have to take care of my household expenses and gym expenses. How should I start savings, I am 31 years old with 0 savings.

When I see my friends fellow mates, they are earning really good have their own house cars everything.

I have done MBA however I don’t have much years of experience

Living in guilt

Associate

Living in guilt- Grapevine

Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself.

1. Working in consumer finance.
2. Love personal finance and helping people out with it.
3. Have published 10,000+ pieces of financial content in the mainstream media.
4. Wrote a best-selling book on money management. It was No. 1 on Amazon once upon a time. 
5. Lately been appearing on TV regularly for personal finance discussions.
6. Saved like crazy through my 20s and 30s, brought two apartments; have an 8-figure net worth mostly thanks to my mutual fund investments. It's not much but it's hard-earned.
7. My unrealised aspiration is travel and I'm working on it now.

No, I'm not selling anything. No commissions, no referral links, no finfluencing. 

Just want to talk, exchange ideas, and learn from you all. Maybe I'll feature you in my next book. :)

Ask me anything.

Let's talk money habits.

Corporate Strategist

I'm 35 and have barely started saving. Is it too late to catch up, or should I just plan on working forever?
Between student loans, rent, and the general cost of living, retirement savings always fell to the bottom of the list. Now I'm freaking out.
Late bloomers in the savings game, how are you tackling retirement planning?

The retirement savings panic

I am an average software developer in India from Tier 2 city with average income. Every day I watch a new piece of interesting tech being launched with half of my salary price tag. Today I was watching these Brilliant AI glasses and wanted to see if I can even afford that or not.
I don't know what kind of rant I am writing but I am really frustrated of watching things being launched that I cannot purchase. Hell I cannot even purchase a Chat GPT subscription although I earn around 60-70k (I come from a really poor family so 60-70% of my income goes to loans etc)

FOMO with the latest technologies.

Software Engineer

I am a fresher earning roughly 1 cr post tax.
I started investing a little late but I am now consistent with my SIPs which I started at the age of 8 by saving 500 a month of my school bus fare and pooling a ride in my father's car with a step up of 10% every year. There was no driver so that we could save some money and put it in a fixed deposit every year. 

I stay at my home so that I can save some rent. I don't get the privacy that a fresher looks for because my family is mostly out of the country and I had to get 24 hrs house help. But I am okay with it. Nobody gets everything.

Now I am paying around 48 lacs as income tax. What am I doing wrong and how to spend money wisely. And how can I make sure that I get paid according to the market standards and not get exploited by the system.


PS: is buying a new iphone 15 worth it as gold plated iphone 15 pro max is very costly.

How to get out of the middle class lifestyle

The only way this post gets better; your house help is Mia Khalifa.

Sales Manager

Data engineer

I grew up in a family which used to be just above poverty line. My mom had worked a lot to provide making 7K a month. I now have a job that pays 15lpa. Other than good food on table I'm not sure what i should do with the money. I save everything left after removing house expenses Which is 75% of my income. I know saving is good but i don't want endup saving a huge pile and dying without using any of it.i want to exprfi6good things. How did you guys spend when you tried to raise from almost poor to a decent standard of living

Not sure how to spend the money that i make

Similar background, always dreamt of a decent gaming pc or console. 
 First thing i did after setting up sip was buying ps4. 
  
 Travel, travelling is expensive but the experiences you have a worth it. 
  
 Spend on parents, buy em phones, clothes or sponsor there religious trips. 
  
 Charity, dont forget your roots. 
  
 Definitely dont become a horder, but dont go ballistic as well. 
  
 Also well done for beating the system.  
 Cheers

Welcome to Indian Startups's Private Community

Attaching a recent sunset pic from my gallery.

Thanks for loving Part 1 of my RLE.
https://share.gvine.app/1phkz5E232ikFMwH8

I am loving this phase of my life. Wlb is good.

Eating organic food, drinking clean water 💦 and breathing clean air 🫁.

More time for family and society.
Getting good sleep with deep sleep more than 2h consistently. No regional holiganism. Life ain't kinda hullabaloo which used to be case in metro.

Saving+investing 100% of my salary (thanks to my investments in last 7-8y)

I want to sustain this and live like this for rest of my life.

I am in late 20s and sitting on total 93L savings.

It will cross 8d soon but am confused on how to go through sustainability. 

Please help me navigate.

1. I don't want to do job. 
Startup or Meaningful work is my calling. In Covid i worked for multiple startups and helped them in many ways. MVP to PMF, am good at marketing, sales, HR and tech. Planning to join a remote startup or start my own. But it should be meaningful startup not just a bigger fool game.

2. I Can do agriculture side by side as I have around 15acres of land. It can give output = Median package of tier 1 mba. Have ideas like growing stevia, alovera and other useful stuff instead of wheat n rice like my old generation. Then it will be huge but again have to convince father. Startups like dehaat are helping in this as well.

3. Get a good franchise in nearby city like sleepwell, Pizza Hut, kfc or tamo and get regular returns.

4. Put all money in FD and get 50k/m return and live a happy life. (50k is more than enough for family of 5 where I live currently)

5. I love reading, blogging, debating, quizzing on economics, geopolitics, spirituality, semiconductor, politics and tech. Can build an online business around this on YouTube and internet.


Please guide me how to reach to correct idea and navigate properly with minimal risk.

Thanks in advance and only serious people reply.

If someone is on same boat ⛵ then do DM.

Rural Life Experience 2.

Senior Consultant

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.

I'm 25 years old, and I have worked from home for the last 2 years. How much savings should I have accumulated by now. My salary is 12 LPA with 0 savings as of now.

Can anyone help me with how to start making money and manage finances smartly? I get 20k as salary every month and it's not enough but I do want to start saving. I do have mutual funds and RD. Any tips on investing to make more money? How to get started?

Trading and Managing Finances

Infrastructure Engineer

1. Real estate (invested value)
2. Liquid cash
3. Other Investments (invested value)

The wealth should not be inherited.

I'm 30. No house, 10L in cash and 5L in mutual funds. No inherited weath.

How much wealth have you created yourself?

Seeing the comment section,I realise I am broke.

Frontend Engineer

Software Developer

Hello all, so I'm a student still, I'll would be joining a company soon and I want to learn about what all tax systems we have and how do I manage them, I want to do them myself in future, where do I learn and what all should I be aware of to save as much as I can?

To start with, I come under 30% bracket, basic salary is about 50% of my base, HRA being 20%, PF 6% and Flexible 24%. I don't have any loans on my name and I'll have to live on rent. I'm also curious on which sections could I be saving and how.

New to Tax

Hi Guys, I wanted to ask one thing from experienced people here. I want to buy a 2/3Bhk flat worth 70-80 Lac after 5 years and right now I have only 5 Lac savings.
How should I plan properly to achieve this, 1 am afraid of taking loan and really scared of debt. Please suggest something.

Finance knowledge

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

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 am a middle class boy. Working in Banglore. I am earning 1.5L every month from last 3 yrs. But still I don't have a penny saved. I have to give all my money to my parents. They have huge debts and to avoid extra expenses i am working from home. It is killing my social skill but i am prioritising money over my social skills. I see my friend going to trips all around the world and while me scrolling through Instagram all the time looking at their photos. Still using my college phone and not upgraded to i phone, Uninstalled all shopping apps for unnecessary shopping are some steps I took to save extra money. 
The point is sometimes i feel proud to help my family to come out of this situation, but in the other hand i am losing the most important time of my life. 

I really feel this time i pushing me back by 5 yrs and really don't know what to do...

I haven't saved a single penny in last 3 yrs

Product Manager

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

How much do you save per month?

Analyst

Welcome to Gadgets & Apps's Private Community

I’m a 23M, I’ve a monthly inhand of 1.10L I put 70K in SIP and 15K in FD. The rest 25K goes to other things food, rent, gym etc. I’ve built a corpus of 5L.

I want to buy jordans costing around 9k but I start feeling guilty as soon as I put those in cart and ends up talking myself out of it. Always thinking that this money can go to my corpus. 

How do you guys purchase stuff like iPhone, iPad, Jordans etc without feeling guilty or without thinking about your savings corpus?

Guilt before buying

Keep it in the cart. 
 Open a RD for 9 months 
 Put 1k every month into that deposit 
 After 9 months use it to buy what you want.  
  
 Chances are after 9 months the price would've been dropped. Or you would've changed your mind by then. If so, buy something else.  
 Never ever go for EMI. It's an addition you can't financially recover from.  
  
 Remember the product is not gonna go anywhere. So, take time to make the decision to buy pricy stuff.

Welcome to Software Engineers's Private Community

I am earning lakh rupees a month(excluding my monthly expenses as a single). but  when I think about buying a house (2bhk around 7.5 to 8 hundred sqft) in a city like Pune/ Banglore. I feel I will not be able to afford it considering other expenses (along with 60 k emi). but when I see people with a salary of 50-60k per month buying the same houses. how are these people planning it out? and most of the people earn between 30-60k how you guys are planning it? how should I plan this for myself? and 20 years of repaying the loan. i feel it's a trap.

Living in guilt

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