Im 25 single and my salary us 1.4L after taxes. Is spending 20k on rent wise?
What should be the ideal rent i should pay from my salary
Unless you're looking at just two flats very close to each other varying mostly in their appearance (and rent), it's ok given your compensation and city. When I started earning in 2017, I was netting 93k take-home post taxes and paying 24k for a 2 BHK in Gurgaon (was staying with mom) . I've always held that emotional upliftment, improved productivity etc should always take precedence over saving few thousands because few years down the line that saved amount would likely mean nothing to you but the opportunity cost (for eg higher stress, poor health due to longer travel times etc) may hold you back for several years to come . Read my comment here https://share.gvine.app/JdXba3cCbUigAzrY8
My whole home at my native runs with 20k per month. It feels so bad that I should pay that much just for rent
Yeah it takes some getting used to. But overtime you'll realise that hefty paychecks (at least in initial few years of career) are simply decent pays scaled in accordance with cost of living in those cities, and therefore you must not keep calculating everything penny spent with your hometown as it'll make you depressed. . I recall during my early days at previous place (a food tech major startup) there were two fellow developers from NIT Bhopal who were quite cautious with their spends. They relocated to a low cost place (standalone building having 8-10 flats) near office (that area was cheap) and soon found themselves amongst orthodox families with bad tempered uncles and aunties who would purposefully create troubles for them in order to force out bachelors from their building. . Similarly initially out of their habit from hostel life of college they were doing most of the chores (cleaning, dishes, laundry etc) by themselves. Overtime when heavy office workload became impossible to manage they outsourced these to household helps / got washing machine etc. and learnt the hard way why it's unreasonable to expect earning like corporate riches while continuing to live like college rag tags. . Moreover on a psychological level living well could have an overall positive impact on your growth. Consider the kind of people (flatmates, their friends) you'll meet in a 10k/month room vs a 25k/month room. I don't intend to insult anyone but you can guess in which place there's higher likelihood to find high achievers, people with growth oriented mindset. (and then you would must've already heard: you're the average of 5 people you spend most time with) Similarly your surroundings also have a strong influence on how big you dreams would be. . Again not stereotyping and it may not always hold true (you might as well find some spendthrift idiots at luxurious accommodations), but I hope you get my point.
I am spending 30k on rent and my salary is same as yours after taxes
Whats your age
27
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Monthly bills + Rent + Savings + Investment + Shopping + etc
Very curious on understanding this from Grapevine. Really wish to understand how do you all think about managing funds.
