Say u earn 17L yearly post taxes, how much from this u want to absolutely save and accommodate rest in the bills/entertainment/misc. Or u don’t budget on yearly basis but monthly? But then how would u account for payments like insurance which are yearly? Just want to understand if u guys do the budgeting and secure some part for saving/investment at all cost? I assume u use excel for this, do share if anything else
Even yearly commitments should be budgeted monthly. I normally put money every month for the annual premium (e.g. if you have a 1 lakh premium you put aside 9k a month in a recurring FD that matures in time for the premium payment, or in a liquid fund). I also put money aside every month for vacations, so maybe 5-7k a month makes for a nice kitty when you plan vacations or flights home for Diwali.
I’d use bonus money (if that is part of comp) for larger goals. (e.g. I used my last bonus for a large paydown for a family commitment). You could use it to save for a down payment or a loan prepayment
I like the idea of budgeting it monthly. Would liquid or debt fund be better than FD/Recurring deposit ?
Tax wise I don’t think there is much difference for short-term. But I prefer liquid / debt funds since you have flexibility in how much money you can withdraw. FDs tend to be all or nothing
Hello community,
I wanted to know how you guys manage your money? Like those with 10+ years of experience having more than 20 30 lakhs, what do you do with that money? Do you invest, put the money in the bank. And how do you feel safe...
What is the biggest expense, how much do you save and how much do you invest
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This should include everything from home bills, entertainment, medical expenses, trips etc. When I was single (back in 2016), my expenses were around 20k per month.
Now I easily go above 1L every month (without rent, we live in our ow...
20 K + 20 K in 2016 -> approx 35 K + 35 K = 70 K (assuming 7% inflation over 8 years). Extra 30 K can be attribu...
If possible pls share a rough idea / figure of your expenses section wise..
Will be helpful for planning
Viners, finally I’m frustrated enough to make a move on building my own business.
Just curious about what b2c SaaS would you not mind paying 100 / month for? Preferably in the capital markets / personal finance space?
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