Software Developer

Reinvest those in some secure assets and move to Himalayas to learn the mysteries of life 🏔️

Product Designer

Sales Manager

Welcome to Indian Startups's Private Community

What would you do if all your basic expenses would be taken care of for next 5 years?

Growth Manager

What would you do if all your basic expenses would be taken care of for next 5 years?- Grapevine

Welcome to Personal Finance's Private Community

Hey Grapeviners,

I need help from all the experienced folks out there.

I and my father have 2 loans:

1. Educational Loan EMI - ₹6500/month for 15 years (₹ 7 lakh loan)
2. Home Loan EMI - ₹22500/month for 9 years (₹ 17.5 lakhs loan)

I am 22 and started my full-time career this month and wanted to understand how to repay 2 loans along with my father quickly with less financial burden. (I am the only child)

My expenses -

1. Paying Home Loan EMI - ₹ 22500/month
2. Investments - ₹ 30000/month
3. Petrol - ₹ 5000/month
4. Miscellaneous - ₹ 5000/month
5. Left with - ₹ 20500/month (lumpsum)

Should I create an emergency fund for myself first with the remaining amount or what else should I do, totally blank in this case?

My father looks after the household expenses, education loan, and his own investments. Not sure, how much he is left with at the end of the month as I am not aware of his income. (He has a private job)

P.S. - 

1. I spend consciously and don't have a bad spending habits. I love to drive (bought a car myself in Dec 2022) and climb mountains, so I manage to do treks every 3 months.

2. I am rigid about my investment amount, so may not compromise on that part.  

Would be forever grateful, if I get some helpful suggestions.

How do I pay 2 loans most efficiently?

Product Manager

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.

House property prices in metro and semi metro cities?

Do share the portfolio size as well.

I’ll go first-

Take home per month- 1.75L (changed to 2.1 right now, but I’ll talk about previous one)

SIP- 70k
Stocks- ~30k if you average on a quarterly basis (smallcase)
Percentage- 57%
Portfolio- 33.5L

Curious to see how others invest. 

Apologies if there is an existing thread about this

What percentage of your salary do you invest?

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.

Software Engineer

I have saved 15L in the past 2.5 years, and i am planning to buy a home worth 50 L in tier 3 city. I want to take a Loan of the remaining amount and i am the only earner in my family. Considering the current situation of Layoffs/Downsizing etc etc in IT,is it okay to take a loan and solely depend on my income for loan repayment. Im 25 rn and we don't have our own house. So need one. What are the other ways in which i can buy a home.

Should i go for home loan

Data Analyst

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

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?

1 year in first job, please help me assess and improve

I got 100% hike. I joined an abroad company. Now my salary is 30 LPA. Any serious answers what should I do? I don’t want to be reckless with so much money.

100% hike. Now don’t know what to do with so much money 😂

Welcome to IT Company Discussion's Private Community

If you resign today without any job or any plan, how many months/years would be able to survive at the current burn rate (monthly expenses) ?

How much runway do you have ?

Senior Software Engineer

Just met a dear friend with 10+ yoe and earning 33L per anam. 

He doesn't want to get promoted or salary hike as he is getting enough as per need and wants to have good WLB. He is accumulating a 3cr corpus and planning to retire in 10 years in his hometown in Ranchi.

Debt free - family house in Ranchi and married with no kids - single income. 

Isn't the amount very small/too risky? Considering anything can go wrong in future and you should work really hard in 30s to avoid that as much as you can.

What's your opinion? 

Ps. He is also active here and I took permission to ask this question here

Is this new normal?

That dude has understood life, i’m 25 will do the same

Operations Manager

Hey, I am 45 years old and working in IT. I have a stock portfolio of around 3 cr and other investments in ppf, fd etc of 1 cr. I have a loan free car and house in tier 2 city.

 I am planning to retire. Is my savings good enough for retirement

Can I retire

Program Manager

Monthly bills + Rent + Savings + Investment + Shopping + etc

If your salary is ₹50k pm, how would you spend it?

Recently my friends moved to 4 BHK apartment near Domlur. The total rent is coming to 1 Lakh for unfurnished apartment, it has some really good amenities.

All 3 of them have offices nearby, and I work remotely for a US startup. After, furnishing and one time setup, just rent is coming to 32k. I am unsure, whether moving there would be worth it or not for me.

I really enjoy company of my friends, but the rent for me is expensive + 6 months deposit. I can definitely afford to pay that much rent, but not sure whether it’ll be good decision or not because of market conditions and tons of uncertainties. I cannot back out if I say yes.

I am super confused, one side I want to stay with friends and on other side rent and deposit is worrying me.


Would love to hear thoughts of you all. 🙏

Is it worth it to pay 32k in rent for a room in bangalore if you work remotely ?

One of the reson for increase in rent especially in Bangalore is these early 20s bachelors earning min 20 to 30LPA, who think when splitted rent into 2 to 3 flatmates it will be less than 30K. They don't know the struggle once they get married and is a single earner in the family.

Founder

Hi everyone, I recently got a job at Accolite as a Software Engineer fresher. My salary details are below with my per month expenses. I would like to know how I can save most of it?  I would also like to know about your personal investment strategy.

CTC - 8 LPA

Retention bonus - 2 lakhs (Will be given over a period of 2 years, 50k on March 24, 50k on September 24 similarly for year 25.)

Per month salary ~ 55k.
Per month expenses ~ 25k

Fresher in tech, Need guidance on saving money.

I come from a poor background, but somehow I worked extremely hard and now I earn decently well (above 60 LPA cash). 

My problem is- 
I don’t mind spending on others. In fact I don’t even think twice before taking my card out and buying things for family or friends. I have also lent money to multiple people when they are in need of help (total close to about 2-3 lakhs). But it doesn’t bother me even a bit. I don’t even care about whether I’ll get it back or not. 

But, when it comes to me, I find myself struggling so much and questioning my decision to buy things even as cheap as INR 200-300. And most of the times I find myself going extra miles to save a few bucks. In fact, I also recently downgraded from a bigger to smaller apartment, because I have been doing so much maths around saving 7-8K a month. 

Maybe there is some part of me that feels that I don’t deserve any of this. 

Anyone has any idea how to fix this?

I find it so hard to spend on myself

Product Owner

Welcome to Fintech India's Private Community

Age 30, married, expecting to be alive till 80
50 L in cash
Own house & car (no plan to sell any of them)
No kids, no loans, no expectations, just basic life
Nothing from family

Excel calculation is hinting yes :)
But need practical advice

Can someone retire with just 50 Lakh in hand at 30.

You can't have the same car for 50 more years. 
  
 Your house will need pieces of renovation in the next 50 years. 
  
 Your body parts will start crumbling in the next 50 years.  
  
 Inflation will continue to eat your money in the next 50 years. 
  
  
 So no way you can survive with 1L per year for the two of you.

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

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

How much do you save per month?

Analyst

Did you know that if you start with investing 90K INR Each Month and step up your sip with 10% every 2 years, assuming 12% returns You’d have over 30CR in 2040? 

Now obviously you can consider inflation but still if you take out 4% of 30CR each year you would have 1.2CR Each Year i.e. ~10 Lakhs INR every month! 
 
Like what even lol.. Is there a catch for this ?

What would you do if all your basic expenses would be taken care of for next 5 years?

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