The moment you cross salary from 40L to 50Ls , you will learn abt more surcharges 🤣

You mean rich tax?
But rich don't pay tax 🥺

Rich businessmen dont pay tax. Rich salaried pay huge tax

Program Manager

Product Manager

I could see nirmala sitharaman after this. I have expertise in it😅🤣

Pre Sales

Data Analyst

I think personal finance is quite an understated aspect of our lives

Meanwhile company shareholders: *Aw yiss, big raise for us*

Software Engineer

It should be what’s there for me not is this for me

Personal finance IRL

Personal finance IRL- Grapevine

Welcome to Personal Finance's Private Community

Personal finance

Investor

Just some personal finance gyaan, I follow these regularly 

1) Have 3-6 months of cautionary savings
2) Have up to 2x your monthly account in your bank 
3) Have 3 accounts (Salary, Investment & Spend)
4) Have a Bifurcation of Equity, Debt , Real-estate & Gold 
by age and follow that 
5) Have 2-3 credit cards (Set Breach limits) 
6) Think long term 
7) Reduce costs on all fronts - Saving account, demat, mutual funds , tax etc
8) Medical & Life insurance is a must 
9) Don't inflate your lifestyle after you income gets upgraded .Wait observe and decide if it's worth it
10) Always invest in things that would give you less headache 

Have added my investment bifurcation in comments

Boring - Personal finance Gyaan

Senior Associate

Anyone here who likes the challenge of going almost broke at starting of the month? After payment of rent, bills and most bigger expenses, I hardly keep 10K with me. I have credit card for any unforseen expenses however I keep my debit line free of any incoming expense. 
Anyone here who does the same?

Personal Finance

Product Marketing Manager

I have been pursuing some aspirational products like Apple Watch SE, Airpods Pro 2, PS5 etc. since a long time. I go to the Amazon page and add it to cart but then my conscience questions me as to is it worth spending so much on it? I earn decently and live in BLR but still I dont fully understand to give my mind a valid reason for purchasing a 40k Watch that shows time, some metrics and some automation. Also 20k for listening music, 50k for playing games.

It feels as if is it sane to spend much on these personal material stuff? How do you folks look at this while making purchases?

How do you justify expensive purchases to yourself?

For some ps5 is not about price, it's about their dream to buy since college days (many ppl I know bought it) and same goes for other stuff as well.

Digital Marketer

Software Developer

Preferably free. Drop in your suggestions!

Which app is the best for managing finances (investments, insurance and expenses) ?

If you cannot manage all 3 on a Google Spreadsheet, you're doing it wrong.

Sales Manager

Account Manager

So, it’s our fav Friday and Personal Finance (PF) topics will be all high on charts. IMHO, learning PF is a life long journey as instruments keep evolving, dynamics keep changing. 

To keep updated about ever evolving topics, what are the sources you use to learn (watsapp forwards not included ;) ).

Some of the sources, I use - 

1. Research reports of ICICI Direct - Team under Dharmesh shah explain various factors impacting the particular counter, they aggregate various data points and make good arguments for/against any counter. These reports helped me visualise beyond the (P/E) as I prefer value-based investing style.

2. Investor outreach by Parag Parikh AMC - I enjoy reading/watching commentaries by this particular fund house. Learnt a lot about various investment products from these sessions. They provide good frameworks to look at future markets. 

3. Books - Some of the classics provide a holistic view of various investment cycles, patterns. They can become very interesting if you have a long term knowledge gain about PF. My favs are - Coffee can investing, The Intelligent Investor, Behavioural finance books by Parag Parikh. 

Feel free to add your sources and build a community repository. Happy Money Minting!

FriYaY Finance Fundae!

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

How do people in Bangalore manage their personal finance?

Bangalore's personal finance

I don’t have much knowledge about investing, for now i have following investments

- 10 Lac in FD
- 5 Lac in stock where I have bought stocks of well known large cap company without any analysis assuming that it will grow in long term

Now I want to get serious about investment and want to do monthly SIP so seeking for suggestion on what I should do SIP ? For now I am thinking to do monthly SIP in Nifty 50

For now I have appetite to invest 25K per month.

Where to invest in India for long term ?

How do you folks go about remembering what to do when with regards to basics of tax planning ? 

Things like using all the various tax exemption levers LTCG,investing in 80C etc 

PS:Noob alert !

Struggling with personal finance discipline!

Strategy & Operations

I’ve noticed different people have different ways to approach their financial planning. 
Hoping to learn from each other and perhaps help others who read as well.

What is one personal finance habit that has changed your life?

If you 'want' to buy something, wait day or two (I wait a week) to know if my heart is still stuck at it. Generally (mostly) it is fleeting craving and I end up not buying.  
  
 This has kept my expenses very minimum

Consultant

Founder’s Office

Coming from a middle class struggling family I find it really hard to spend money on rent,buyi g things which can increase my productivity and improve lifestyle,just graduated last year and earn around 1.2lpm in blr,I rather invest my whole salary I'm mf/stocks in this bull run
How can I invest on stuffs that I actually need?

How to start spending money on urself

Data Scientist

I'm a fresh grad who started his job. Can someone suggest how can I start with my investments. Like where to study and how to proceed. I'm too confused about everyone talking about financials and I don't understand at all (I'm from a non financial background).

Any advice will be very helpful.

Thanks in advance

Advice on personal finance

I started my career as a humble analyst in a tech company, worked my way into finance and venture capital and eventually am heading to a top tier bschool in USA, where I will be paying what it costs to go to an ISB/IIM yearly.

We have the Warikoos, and countless others breaking down personal finance and urging people to save. I have mostly done the opposite - i.e., spend liberally but not be profligate. Here’s my view. 

We are a poor country. If you find yourself in a place with the resources to spend more than the average person you’ve grown up around, please do! Spend on what makes you happy, pushes you, drives you, and allows you to step change your life. Security can be achieved with a good insurance plan and decent emergency funds. Beyond that, please spend on experiences that make you a better person, give you access to better people and enrich your life. Eventually time is the most finite commodity we’ll have. We have 1000s of podcasts on savings, mutual funds, ETFs etc. Does anyone talk about spending effectively to enrich your experience? No. 

I am pointing to a larger theme of a scarcity mindset that indians have, because we have grown up in a low-middle income country. It’s where we come from, but that doesn’t mean we cannot experience abundance. Life is short, don’t listen to people making money off you watching their personal finance videos.

Hot take on savings

Venture Capital

Is there any expense tracker app for iOS ? Managing spends on google sheets is painful these days. Please suggest

Personal Finance Management

Growth Manager

Golden advice on finance 101

Generalist

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.

Budgeting as an adult means carefully planning how to spend all your money before it even arrives. 💸💭 #FinancialPlanning #AdultingWoes

Who else feels like they’re constantly playing financial Tetris with bills and expenses? Let’s swap budgeting tips and tricks!

Payday Feels Like a Myth😅🤪

System Administrator

I'm a queer person in their mid 20's new to adulting. Most of the personal finance thumb rules/advice/content out there is centered around a cis het perspective and that way of life - it gets confusing to think about wealth, saving, FIRE, etc. without having any relatable reference point. 

Are there any queer folks here who have come across similar confusion and how have you navigated through it? 

Just wanted some insights on how you think about money and life goals

Personal Finance Queer POV

Project 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 :(

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