At what point do you say that this is enough money that I have saved and now I will spend on luxury from here on? I know this is very "It depends" question but what has been your strategy?
My strategy has been to calculate what I need to be financially free at 40. The corpus requires a certain yearly investment, which translates to a certain number in SIP per month.
Anything post that SIP is a fair game, and then I don't care about the expenses. This has been an incredible shift for me to care about investment rather than expenses. @Malphas
For me, the more will always be better, so it doesn’t work for me to save up to some X amount and then pay for luxuries. I try to keep a balance as this % should always be saved which will eventually build up to some good amount over the time I work. The reason why I go with this strategy is that with time my saving requirements will increase for unforseeable reasons so keeping it variable makes sense to me. Also there are some luxuries which I can afford to enjoy in my 20/30s and so when I age there might be few luxuries which I won’t be able to enjoy could be like concerts missed, trips with friends, going out with your partner etc. so all in all, I prefer to keep it percent based saving and the amount to be variable and not some fixed amount. But yeah need to be frugal too.
This complete thought is based on how I want to live, it can be different way for everyone so process it accordingly.
Attaching a recent sunset pic from my gallery.
Thanks for loving Part 1 of my RLE. https://share.gvine.app/1phkz5E232ikFMwH8
I am loving this phase of my life. Wlb is good.
Eating organic food, drinking clean water 💦 and breathing cl...
I have been pursuing some aspirational products like Apple Watch SE, Airpods Pro 2, PS5 etc. since a long time. I go to the Amazon page and add it to cart but then my conscience questions me as to is it worth spending so much on it? I ea...
For some ps5 is not about price, it's about their dream to buy since college days (many ppl I know bought it) and sam...
So, I have started investing in MFs. Started from very low amt of 7k pm which is divided into 3 parts: Large Cap: 2.5k, Medium Cap: 2.5k and Small Cap: 2k.
MF Invested: Icici bluechip direct growth, HDFC mid cap direct growth and Quant...
Monthly bills + Rent + Savings + Investment + Shopping + etc
I come from a poor background, but somehow I worked extremely hard and now I earn decently well (above 60 LPA cash).
My problem is- I don’t mind spending on others. In fact I don’t even think twice before taking my card out and buy...