What is the biggest expense, how much do you save and how much do you invest
Save around 90% of my salary. Biggest expense is rent (25k).
How old are you, how are you able to ?
In hand ~ 3.5 lpm Rent - 25k Cook & maid - 3k in total. (stay with friends so it gets split) Petrol/bike maintenance - 2k Miscellaneous/weekends - 10k
Apart from this I don't do any impulsive buying or any unnecessary splurging. Don't have any loans currently but planning to buy a house soon.
Invest 80k in SIP monthly and 40k in stocks.
Then from time to time, I invest some money in assets like Corporate bonds, SGBs, Real estate, FDs which is low risk but would generate me a decent passive income.
Remaining money is in my bank sweep in account to give better interest as compared to normal savings account.
In-hand: ~3.5L Rent - 50k Maid - 8k Parents - 80k Car EMI - 15k Grocery - 20k Swiggy (incl Dineout) - 25k Petrol - 12k Utilities/ bills - 10k Annualised expenses - 45k Total: 2.65 Saving: ~80k (mostly FDs, sometimes mutual funds)
Break-up of annualised expenses: Car servicing - 15k Holiday - 1.5L Electronics/ gadgets - 2L Clothes/ shopping - 50k Home decor - 50k Insurance premiums - 35k
Man thanks for such details, are you happy/sad with this where do you want to improve on same salary?
Some Background: Dinks. PM w/ 8+ yrs exp in one of the 🦄.
Savings mostly in FDs right now to re-build emergency fund. Corpus exhausted recently due to brothers wedding.
I’ll go first.
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What percentage of your in-hand salary do you invest every month? And where do you invest it?
I will go first. I stay with my parents and end up saving upto nearly 90% of my salary, and invest all of it in mutual funds and PPF
