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GoofyBiscuit
GoofyBiscuit
6mo
by
Stealth

How should I save my salary ?

I’m struggling to save money. I have 1.2 years of work experience and earn a package of 9.45 LPA. Currently, I’ve managed to save only ₹7,000. Recently, I spent on home appliances and bought a bike worth ₹3 lakhs. I just turned 21 two months ago. I need suggestions on how to start saving effectively.

6mo ago
WigglyRaccoon
WigglyRaccoon
Student
6mo

Please start an SIP whatever you are saving. As and when you earn more increase SIP or lumpsum amount

GoofyBiscuit
GoofyBiscuit
Stealth
6mo

Yeah going to start from next month

GoofyBiscuit
GoofyBiscuit
Stealth
6mo

Can you please suggest some mutual funds for long-term SIP investment (minimum 10 years)? Also, how does the 50-30-20 ratio apply here?

ZippyUnicorn
ZippyUnicorn
TCS
6mo

60+20+20

60%- Monthly spends +rent+❤️ 🧄
20%- investment
20% - open no UPI account

SnoozyPickle
SnoozyPickle
TCS
6mo

I agree but he is just 21. If I was 21 with that CTC my 50% income will go to MF..

JazzyRaccoon
JazzyRaccoon
Oracle
6mo

20 is very less for a single without major responsibility. make it 50.

PrancingRaccoon
PrancingRaccoon
Tech Mahindra
6mo

Dm me… start investing… mindfully

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