How to manage salary of 1.4lc per month as a fresher.
Fresh out of college, with no money experience. How to split the money into investments(safe and risky), utilities and other expenses. What percentage savings is good enough. How much of it can I really spend without feeling guilty and what quality of life can I afford with this salary?
Talking product sense with Ridhi
9 min AI interview5 questions
Draw up a budget based on your first 6 months of spend.
Mandatory fixed a. Rent b. Utilities c. House help
Mandatory variable a. Commute Costs
Discretionary Fixed a. Investments
Discretionary Variable a. Entertainment b. Shopping c. Travel
This'll tell you where your money is going and you'll be able to figure out how to optimise each bucket.
If its your first job, don't skimp on having fun with your money. Don't get too cowed down with "investments". Go out, buy stuff, travel, do the things you've always wanted to with your money. Just don't build up a mountain of debt in doing it - enjoy within your means.
Good luck!
Wow, that's a high effort answer Nice person
First learn to spend.
By the end of the 6th month you should be broke.
After that you will learn how to manage by yourself automatically.
(Never lend 1k,5k,10k to people)
Why not lend?
Because it's not lending it's charity cause you never gonna get it back
bhai basics h ye, khana kha , ghr dhund, kpda pehen… kuch sikh aur baaki udda de gareebon me agr well funded background se aata h ni to invest kr
Initial kuch mahine maze karo. You deserve this
By not asking on a social media platform
Inverse the 50-30-20 rule.
Invest 50% of your salary. Spend 30% on your needs. Spend the rest 20% on wants.
A good problem to have. YouTube will help u out other than folks here
Hey, where did you get place? And what’s your CTC?
Don't compromise too much on roti, kapda, makaan. Try to invest/save 50% of your income You will be more than sorted