Nishith

How do you manage your money? (SDE version)

Hey folks, I'm a recent graduate, got a job at a startup and the base will be <15, >10. Shifted to Bangalore (more like returning after 6 years, lived for 4 years before that).

Since I'll be starting my full time journey soon, I want to know how you guys split your take home salary into needs, wants, luxury, savings, investing etc.

Currently, I'm in a rented flat in HSR (my split is 7k) and will rent out/buy some home appliances. Food would be around 10k a month (no maid, all outside).

I just want to know your experiences on spending and handling money. Not that I'm bad at it, but this is the start of my journey and I would like to know how other people manage their money, so I'd know if I have to tweak some things. Do tell any strict DOs/DONTs, common mistakes.

5mo ago

VioletMovie

Accenture5mo

Congrats on your first job
When I was at your stage; I ended up saving almost 50-60% Used to invest in SIPs actively, and a little bit of stocks on the side

Just don’t be a miser. Live properly. As a youngster making 12lPA types, you should spend 20-30k on your core needs.

VioletMovie

Accenture5mo

On a monthly basis

Nishith

Series A Startup5mo

Thanks! I come from a humble background so my first goal also would be to save as much as I can 😅. Assuming 90k, I think 50% is something achievable, and I wouldn't be living like a miser too I think.

Bornfree

Stealth5mo

Implement 20-50-30 rule, 20 in Savings,50 on Need & 30 on Want

Nishith

Series A Startup5mo

Isn't 50 a lot for needs?
And when you say 20 in savings, do you also mean investing?

I wanted to have an idea how much people actually keep in their primary SB, emergency SB(or some liquid asset), and then do you start investing after these 2 are fulfilled.

That "6 months of expenses as an emergency fund", do people even do that

FruitySpruty

Stealth1mo

Where is this house in HSR with such a cheap split? Do you have your own room?

Nishith

Series A Startup1mo

Not at that time. Currently I have my own room with a 10k split in a 2bhk. Still decent

FruitySpruty

Stealth1mo

Oh damn, how do you go about job hunting? If you could help out since everything I’m seeing is around 16-20k on split for a 2bhk

ReflectingThaw

Stealth5mo

I came to know that you have no children. I give 100% assurance by using ayurvedic medicine you defenetly have children. You should have children to enjoy your property/earnings for which you have to spend 10 lakh

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