Anonymousss
Anonymousss
Accolite

Fresher in tech, Need guidance on saving money.

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

10mo ago
one_for_all
one_for_all
Remote10mo

A rough sketch on how you can start about.

  1. Start building an emergency fund(via FD/Debt fund). Emergency fund is basically a sum which can cover your few months of expenses in case you are not employed.
  2. Invest in any balanced mutual fund, maybe sip to begin with, you can later on diverse based on risk appetite. Start upskilling yourself on investments.
  3. Look out for term insurance and health insurance.
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