Should I withdraw from savings?
So, I'm young, recently started working less than 2yoe, i have always wanted a gaming PC, so I wanna build one now. Will cost me close to 1.8Lakhs, I have a savings of total 6lakhs, should I withdraw from my mutual funds (Nippon smallcap). My idea is, i won't have the time to play games even if I have money later on, but now I do and this had been a long time wish of mine but I could never afford it, now i can. But logically, I'd be taking a hit on my savings, heart says live a little this is what u saved for, brain says u got a lot to save. Could u guys please help me make a decision 😅
I think you’ve earned it for urself. Unless u see doing this would ruin ur life, just go ahead with it. One fact is that as u get older, there will be many more things which will demand ur time + this hobby for adults get looked down upon. Also look into PS5 as a start as @TheOatmeal suggested
Thanks man, yeah it wouldn't actually matter life wise, but yeah, PS is something i have some thought to, most of my friends okay on PC so it would go to waste if i bought a PS
Kinda un popular opinion here but when I think of buying something I save money for it separately from where my main savings go. This helps me better realise that it's not exactly coming from savings, this is some spare money which I accumulated just for buying something good for myself
TheOatmeal
Stealth
7 months ago
As its your wish, I won’t say that don’t the pc. But i would suggest see if a ps5 satisfy your hobby of gaming. It would be pocket friendly too :)
I am gamer too. I understand the situation 😀
But ps5 has an added cost of buying the game. On pc you have the option to pirate
Yeah that's one thing I don't like as well, plus i can use the PC for work stuff as well, so that's why I'm thinking PC.
But yeppp, PS5 definitely ran through my mind too, plus I'd need a bunch of friends who own a PS5 AND own the same game,
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PersonalFinanceAbhi
Stealth
7 months ago
Always save first bro! There will be lot of distractions in life for spending, stay firm and don’t break your portfolio
I agree, but what am I saving for if not for spending, i don't want to feel like I didn't do anything and I have a big net worth, doesn't feel worth it.
Don't u think so?
PersonalFinanceAbhi
Stealth
7 months ago
Sorry to mention but 6 lakhs is not a big portfolio! I assume you have a private sector job and the way job market is shaping up, saving max for your rainy day is very important. Since I am into the business of personal finance, I have seen many people getting such shocks from their employer or struggling to manage their finances as they get married or when they have children so just wise words for you are - keep increasing your assets and portfolio and allocate some portion for entertainment. Best wishes 😎
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Just go for it. However, make a new rule that next (x) months you will try to increase your monthly savings rate and bring back your savings to 6 lakhs by not spending on anything else other than necessities. X will depend on your current monthly savings
Yeah, do i was thinking if i set aside a certain fixed% from the beginning how much would it be, it doesn't add up to 1.5 unfortunately
BlondBore
Stealth
7 months ago
Investing in good pc is always good investment, even if you are not playing you can keep that for your personal work.
That's the idea, but not exactly super realistic as i already have a decent laptop for work
Kamlesh
Stealth
7 months ago
I would recommend buying something close to 1 lakh and upgrading in a year or two. Don't need to go all out at once, plus new and better graphic cards and chips keep releasing every few years. Just make sure you have a good motherboard, processor, chassis and cooling. You can be flexible with the rest.
Kamlesh
Stealth
7 months ago
Also I would recommend looking into good laptops around 1-1.5 L, they are close to desktop level performance and easier to move around with.
I just don't wanna keep upgrading every now and then, that cost would be significantly higher feels like, once i buy this I'll not upgrade for at least 5 years
GlassSkin63
Stealth
7 months ago
Buy something that you can also use for deep learning
