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Banking & Finance
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BubblyPanda
BubblyPanda
Accenture

How I saved ₹40L for my first home

Before you say buying a house is foolish, let me stop you. It’s a personal decision and I want to buy a house for my parents in Bangalore so I’m doing it. Yes, I’ve weighed the pros and cons and am okay with the cons. So, I started my career at Accenture 5 years ago as a consultant after my MBA, and saving for a down payment on a 1.5Cr house in Bangalore felt impossible. I’ve finally saved up 40L and here’s how I did it:

  • Missed out on almost all the international trips my friends took.
  • Automated 30% of my salary into mutual funds (SIPs).
  • Skipped the car EMI and stuck to public transport and bought a bike.
  • Used Accenture’s ESOPs and reinvested gains.
  • What also helped is using apps like INDmoney to track investments and gains.

I've come far but yeah I've also missed out on a lot of fun activities that my peers indulge in. It's a conscious choice that I make every day.

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QuirkyBoba
QuirkyBoba
Accenture3mo

Mba loan?

FloatingRaccoon
FloatingRaccoon
Accenture3mo

I also wonder how OP paid off MBA loan along with saving. All my money goes in edu loan EMI

FloatingNoodle
FloatingNoodle
HCL3mo

Parent's fking money lol

SparklyWaffle
SparklyWaffle
Stealth4mo

Don’t feel bad even a tiny bit about missing out on the fun activities that your peers might be engaging in. Buying a house is a big decision and a solid investment, difficult for many in the current economy. Everyone aims for it, only a certain percentage is able to attain it.
Saving for it is a massive commitment in itself which only a few can comply with so you should very well congratulate yourself for that. You parents would be super proud !

SleepyBoba
SleepyBoba
JP Morgan4mo

Good effort and congratulations incoming

CosmicBoba
CosmicBoba
Tech Mahindra4mo

Good for you!

SwirlyUnicorn
SwirlyUnicorn
CGI3mo

You did it right , your parents raised you well. Whatever they taught you at MBA course worked.

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