QuirkyWalrus
QuirkyWalrus

How do you split your income ? 💰Please help

I earn approx 1.5L per month

Currently splitting as below

Fixed expenses: 40k per month

Wants: 30k per month

Misc/emergency: 5k per month

Invest: 70-75k per month

Worried if I am over saving or being over frugal in my early years ?

12d ago
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JazzyQuokka
JazzyQuokka

You're doing it right. Don't be swayed by the herd.

30k on wants should be sufficient in general.

Do reward yourself once in the while if you still feel you're being too frugal. Especially if you want to spend on experiences that would broaden your perspectives, like travelling.

QuirkyWalrus
QuirkyWalrus

travelling is included in the wants bit, rest all is saved, i feel i should spend more to contribute to this economy and also enjoy while I am bachelor, with responsibilities it might get tough

PrancingKoala
PrancingKoala

You should also build an emergency fund. 1 year runway

QuirkyWalrus
QuirkyWalrus

I have all that secured, and parents also have FIRE for themselves

PrancingKoala
PrancingKoala

Awesome

CosmicLlama
CosmicLlama

being frugal at the start is best way to build a corpus.

IMO, that wants @30K itself is too high.

ZestyBurrito
ZestyBurrito

That's what I would like to know too - what is OP wanting that costs 30k/m?

SnoozyWalrus
SnoozyWalrus

Fair point, tho one can live a little when they are young. As long as you don’t overdo things…..

FloatingJellybean
FloatingJellybean

Yoe?

QuirkyPenguin
QuirkyPenguin

I think this is very good to start. Kudos for the discipline to do this.

The key for you should be to think about how to grow this monthly income from 1.5L to 5L+ over the next few years.

Cost control seems like something you'll figure out for sure.

ZoomyMuffin
ZoomyMuffin

You're doing quite well honestly

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