Need Advice: What Do You Do With Your Money After Expenses?
Hey folks, I’m kinda need some adivce on how to manage my salary properly. After covering my basic expenses, I have around 1L left each month, but I’m not really sure what to do next. Right now, I’m focusing on building an emergency fund, but what should my next steps be? How do you guys plan your finances—investments, savings, or anything else I should consider? Would love to hear how you approach it!
- First save for emergency survival for atleast a year. (Basic + necessary expenses). Bhai IT mai kab kya ho jaye, we never know.
- Start mutual fund, flexi cap and equity
- Start buying gold, make it a habit for every month, even it's is 1 gm.
For more you can DM me, Will help you out :)
- Emergency fund, insurance is priority
- Mutual funds, split between large, mid, small cap and Stocks based on your risk appetite
- Invest in property, good to start early on this one as you already have good savings
Yoe?
Whatever left is lost in stock market.
Invest first and remaing use for expenses, if you are single then 60-20-20 should be formula, 60% savings, 20 % rent and transport and 20 % enjoyment and daily needs, believe me 10 years down the line your portfolio will be awesome n do insurance for medical,
Chat GPT will give a better plan if you are good at prompt
Chat GPT will give you a bette plan
