If your salary is ₹ 1 lakh (100k) pm, how would you spend it?
Monthly bills + Rent + Savings + Investment + Shopping + etc
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70k goes to home loan. Rest rent and utilities. Net zero PS: I earn more than that
Ideally max. 40% salary should go for loan, not more than that. And why to keep net 0? What abt medical emergencies and other exigencies?
I’m married. 🤣 Btw if you go to the real estate market right now, you won’t find anything in the 40% bracket, unless you’re earning 2-3 LPM
I’ve WFH. So whatever I make I don’t spend it much(I mean samajh nhi aata kaha spend karu 🥲). I mean ghar pe hi sab mil jaata hai. And, I don’t drink, smoke and don’t have any kind of habits.
I asked my parents fewer times to take my ATM and bank details to do whatever they want to. But they say, no we don’t need it keep it with yourself 😅.
Because of this only the amount became huge so my cousin said put in MF or PPF or invest somewhere 😅. So I did that recently few months back
My current salary is just 30k, but I think this exercise will motivate me to make a job change and get better package.
30k for family, I want my father to retire and heq does not have retirement plan so I will need to be the man of house
10k for emergency funds such as medical, I don't know if this is enough or not, cause we were lucky and never had any medical emergency, I hope it stays same
20k for investment funds, I will mostly go for index funds and blue collar stocks
30k personal and living expenses, I don't have much expenses, I will just need to spend on rent and food. Also I might go out once or twice in a month to nearby places, I guess this is enough for that
20k saving for a specific goal(like buying house or another investment), I don't want to go into debt until I am comfortable with it. So I am not buying a house, but I will definitely want to save money for that goal. Also I don't believe buying house in a metro city is a sane idea looking at the costs. I might buy it in my home city which is much more peaceful and affordable
You will get there bro. All the best
Dude, you have such clear thoughts for your future🫡 Respect bro.
50k investments
10k for fun
Rent : 0 as I work remotely
What about the rest 40?
Currently saving them for fuck off fund
12.5k rent, 6.5k maid/cook/grocery/utilities, 15k savings, 45k investment, 20k shopping/eating out/travel
12.5k rent? You staying in pg?
Its scaled down considering 1L salary, my salary is more than that
60k ( home + rent in Bengaluru) 20k on expenses like shopping, saving for phone or laptop. 20k investing in shares, crypto.
Tf 60k for home & rent
I sent 45k to home and 15k for rent in Bengaluru
Don't make every platform like Quora by asking such questions.
What defines what can be asked and what cannot be? And why asking this question makes this platform Quora?
No bro keep asking questions the ans really help
Following the age old 50-30-20 rule is pretty cool...
50% in necessities
30% in luxurious/wants
20% in investment ( different areas of course)
But for those who don't have that many necessities or wants n all, they can increase the investment ratio.
Like bring it upto 40%
Impressive
40k in elss mutual fundfirst (then other mutual funds/stocks) +
10K (emergency/sabattical) +
Rest for monthly household stuffs + shopping + travel.
If you have dependencies, then that ratio will be adjusted (cutting down budget in Elss mf, then daily stuffs).
21k rent and bills, 30k shopping and luxury spends, 50k investment (scaled 1.5 -> 1)