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

Buy 1BHK in Mumbai.. Take out a loan. It will bring back your childhood memories of not having enough. Good luck 👍

You may not like what's coming but if you follow this I bet you'll never regret. Let's assume you are younger than 30, Distribute your savings like this: Equity/Mutual Funds: 50% F.D./Debt: 20% Emergency Fund: 20% Fun Fund: 10% Keep a margin of +/- 5% and do not go beyond that margin. I'll suggest you to go for growth mutual funds and not dividend, you'll thank me one day. Do not spend the dividends that you get from stocks, reinvest them. Now what not to do. 1. Do not get any of these things on EMI until you have atleast 50% cash in terms of Fun Fund: a. iPhone/High End Phone b. Car c. International Trip You can use Debt/FD cash for buying jewellery for your mother as she invested her life in you.

Don’t think too much other than putting some of it as investment. Make SIP. Rest you’re doing well

Spend on investment. Save rest for rainy days.

I was in a similar boat, when I started to earn enough to save, most of my interests (read bucketlist as a kid) kind of faded away :/ . It may sound punitive but try to improve food nutrition quantity on your family's plate which you have already mentioned. Buy supreme quality mattresses and good shoes. Worth every penny. Take your family to body and dental checkup every 6 month. Basically secure the health in whatever way you can. I like pastries, therefore learning how to bake them now. You can try getting a musical instrument maybe, or swimming classes or maybe some other outdoor activities. Point is don't just save ALL the money and waiting for it to multiply, use a small portion of it consciously to experience new things before the kid in you also becomes a monotonous adult.

who is asking you to die without using all the money. you might just die in the next hour who knows? do you have 'a huge pile' right now?? Adversities may come anytime. All of that peanut savings will go in seconds. continue saving until you have a huge pile. say 5 crore. -> no regrets in dying without using it. you were creating your safe net. <- small celebrations are fine. don't aspire the dumb rich class life to start living yoga, vegan, travel and cars for societal status life.

Get married

Bro how to save money?

Help those who've helped you in your hard times, Travel ( a lot)

Change in Lower middle class/ middle class mentality to Upper middle class mentality takes a while even if you keep growing your i come... So natural to feel this way...

Buy lands, a house, gold

Start drinking

Similar background, I changed my spending and saving priorities when I was earning around 20lpa. I was saving around 40% of my salary with a home loan for parents, I would have never thought of buying car, doing fancy interiors, etc. Things changed when my friend's mother died suddenly and he once cried saying "whenever I wanted to buy something for mom, she would say will do it when we will shift in owned house. Now she is gone.". I got more term insurances, covered everyone with health insurance, prioritised fulfilling parents small wishes like owning a car, getting modular kitchen, tiles installed in house, etc, minimized savings for some time to almost 0, currently I am back to 33% saving in form of shares.

My theory is most people suggesting saving everything grew up middle to upper middle class. Their parents gave them a good life but not enough for them to not work. Please don’t just save money, spend a bit, experience new things. Some things I wanted to do as a middle class kid - fly business class, own a car, travel to different countries and experience their culture, eat at fancy places with good service. I have fulfilled these Things I want to do in future- live like a local in major cities of the world like NYC, Singapore, London, Frankfurt, Sydney, Hong Kong etc Build my own house in the city Own agriculture land near Bangalore with a farm house Get a sports car at some point and experience adrenaline rush while accelerating Fly a glider, I have been watching lot of interesting videos on YouTube about it

Growing up, my father had a good job and yet my parents taught me the value of money. I was saving 80% of my income during WFH but it has fallen to less than 40% now due to WFO. Spending money on things you absolutely don't want doesn't make sense. Best, if you are careful with your savings you can retire early. Also, if you are single then you will not have much expenses but once you get married and have kids your expenses will increase. Taking home or car loan will further lead to a burn in your wallet.

Let's agree on a small point: you at 25 years of age hardly know yourself at 50 years and 75 years. You don't know what is in store for future. Let's hope that you turn out ok, but there are just many things that can go wrong : accident , divorce , bad health , skills becoming irrelevant. At this age, you might not think of these issues a lot but with age humans get less flexible and its harder to deal with big bad life changes. In such cases, situation might become so bad that you might have to spend more than you earn or maybe earning stops forever. Things and lucky don't remain the same, when you are going through a period of excess and happiness always save for a rainy day. When going through a bad phase, remember there is light at end of tunnel. "This my friend, too shall change !"

Congrats. If you live as a family with a House, car, children - this amount will not feel high. Invest. Buy land if you have too much money. Upgrade/Modify your house. All these need a lot of money.

Travel! Especially to new places and try to meet new people. Experiences and connections made will compound over time and even in monetary sense this will pay back indirectly at some stage in life.

The things i can suggest to you is to buy things that'll make your life easier or fun. As simple as theat