Guys in 30s', What is Your Monthly Expenditure (in %), How Much (in %) of Income Do You Save?

Hundred_Dios wrote:

write down your expenses, then see what expenses can be reduced or skipped entirely. I follow save and spend policy. Forget spend and save policy in case you are doing

Perfect. I have started this to an extent from last few months. I am using an app called WALNUT and its serving the purpose. 

@hemant_111

Bhai logo Jada plan mat karna zindagi ko … Kyuki uske kuch aur hi plans hote h ….
Apni samaj itni h abhi

hemant_111 wrote:

I am working in IT company.. my package is around 12+ but still m in negative always. M living on paycheck to paycheck for now… Don’t know when m going to start saving and investing

12l per annum is more than sufficient

Cody wrote:

12l per annum is more than sufficient

Kahan bhai

Agar apna ghar ho Phir bhi chances hai, otherwise 12 l mein basic standard of living bhi maintain nahi hota 

androgame wrote:

Kahan bhai

Agar apna ghar ho Phir bhi chances hai, otherwise 12 l mein basic standard of living bhi maintain nahi hota 

1 lac per month is still a whooping amount bro, i don’t know how u call less.

androgame wrote:

Kahan bhai

Agar apna ghar ho Phir bhi chances hai, otherwise 12 l mein basic standard of living bhi maintain nahi hota 

can you list your expenses?
humein bhi pata chale k kaunse basic standard of living ki baat chal rhi he

Cody wrote:

1 lac per month is still a whooping amount bro, i don’t know how u call less.

Bhai 12 l ka package hai, assuming its all in hand and Usmein tax bhi katega , assume 1 lakh. 

(ignore this expense if house is owned) A family of 4 would require atleast 2 rooms that would cost around 25 K in a mediocre accommodation. That’s 3 lacs an year. 

Groceries and stuff would cost another 50k a month (includes dairy products, fruits, vegetables, pulses, grains, some packaged stuff, etc.). That’s 6 lakhs an year. If children have any education going on, can include that here only, minimum 5k per child per month. 

Another lakh per year for transportation related expenses (includes vehicle insurance, fuel, emi or any other miscellaneous maintenance) 

Finally you can either save the last lakh on use it for entertainment purposes or any other expenses. 

CC- @BAT_MAN

Would really love to hear your thoughts and if you can suggest any space for cost cutting (while still not degrading quality of life) 

Not in my 30’s yet but 26 now and i save about 80% of my salary.
Single living in parents house

christiano wrote:

Not in my 30’s yet but 26 now and i save about 80% of my salary.
Single living in parents house

Thats a good thing to start early on, take the full advantage of the circumstances  

androgame wrote:

Bhai 12 l ka package hai, assuming its all in hand and Usmein tax bhi katega , assume 1 lakh. 

(ignore this expense if house is owned) A family of 4 would require atleast 2 rooms that would cost around 25 K in a mediocre accommodation. That’s 3 lacs an year. 

Groceries and stuff would cost another 50k a month (includes dairy products, fruits, vegetables, pulses, grains, some packaged stuff, etc.). That’s 6 lakhs an year. If children have any education going on, can include that here only, minimum 5k per child per month. 

Another lakh per year for transportation related expenses (includes vehicle insurance, fuel, emi or any other miscellaneous maintenance) 

Finally you can either save the last lakh on use it for entertainment purposes or any other expenses. 

CC- @BAT_MAN

Would really love to hear your thoughts and if you can suggest any space for cost cutting (while still not degrading quality of life) 

2bhk rent 25k – justified only in tier 1 city
50k monthly grocery
What are you buying man
And from where

1L transport – that is only going to happen if you arrle using car (i consider that as luxury)

androgame wrote:

Bhai 12 l ka package hai, assuming its all in hand and Usmein tax bhi katega , assume 1 lakh. 

(ignore this expense if house is owned) A family of 4 would require atleast 2 rooms that would cost around 25 K in a mediocre accommodation. That’s 3 lacs an year. 

Groceries and stuff would cost another 50k a month (includes dairy products, fruits, vegetables, pulses, grains, some packaged stuff, etc.). That’s 6 lakhs an year. If children have any education going on, can include that here only, minimum 5k per child per month. 

Another lakh per year for transportation related expenses (includes vehicle insurance, fuel, emi or any other miscellaneous maintenance) 

Finally you can either save the last lakh on use it for entertainment purposes or any other expenses. 

CC- @BAT_MAN

Would really love to hear your thoughts and if you can suggest any space for cost cutting (while still not degrading quality of life) 

By seeing your expenses, I came to know that your level is high end.

BAT_MAN wrote:

depends on few factors, majorly on lifestyle and dependents
I am also saving 70-75% pm
no outside food
no travelling for leisure
clothes and mandatory shopping – once in 2-3 years
no loans
no credit cards
dependent parents

No CCs o.O

androgame wrote:

Bhai 12 l ka package hai, assuming its all in hand and Usmein tax bhi katega , assume 1 lakh. 

(ignore this expense if house is owned) A family of 4 would require atleast 2 rooms that would cost around 25 K in a mediocre accommodation. That’s 3 lacs an year. 

Groceries and stuff would cost another 50k a month (includes dairy products, fruits, vegetables, pulses, grains, some packaged stuff, etc.). That’s 6 lakhs an year. If children have any education going on, can include that here only, minimum 5k per child per month. 

Another lakh per year for transportation related expenses (includes vehicle insurance, fuel, emi or any other miscellaneous maintenance) 

Finally you can either save the last lakh on use it for entertainment purposes or any other expenses. 

CC- @BAT_MAN

Would really love to hear your thoughts and if you can suggest any space for cost cutting (while still not degrading quality of life) 

The expenses are too high…50K for groceries is too high….

- 15 to 20K in tier 1 city (excluding mumbai 😀) and 10 to 15K in tier 2 city should be on rent

- 15 to 20K on household expenditure that includes grocery, electricity, etc

- For school fees, there is a formula – some financial experts say school fee expense should be within 30% of your annual earnings.

So, assuming 1lakh take home salary and 1 kid, then the monthly expenses to maintain the family should be 40 to 50K in tier 1 city, 35 to 40K in tier 2 city. I ignored unnecessary expenses like leisure travel, outside food, etc

correct me if i am wrong

androgame wrote:

Bhai 12 l ka package hai, assuming its all in hand and Usmein tax bhi katega , assume 1 lakh. 

(ignore this expense if house is owned) A family of 4 would require atleast 2 rooms that would cost around 25 K in a mediocre accommodation. That’s 3 lacs an year. 

Groceries and stuff would cost another 50k a month (includes dairy products, fruits, vegetables, pulses, grains, some packaged stuff, etc.). That’s 6 lakhs an year. If children have any education going on, can include that here only, minimum 5k per child per month. 

Another lakh per year for transportation related expenses (includes vehicle insurance, fuel, emi or any other miscellaneous maintenance) 

Finally you can either save the last lakh on use it for entertainment purposes or any other expenses. 

CC- @BAT_MAN

Would really love to hear your thoughts and if you can suggest any space for cost cutting (while still not degrading quality of life) 

Kya bhai… Sona (gold) ki toffee (Candy🍬) khate ho kya… 50K ☠️

BAT_MAN wrote:

2bhk rent 25k – justified only in tier 1 city
50k monthly grocery
What are you buying man
And from where

1L transport – that is only going to happen if you arrle using car (i consider that as luxury)

Bro 2 rooms are still a compromise, ideally there should also be a living area / study room /working room whatever you call it. So i think 25k is justified in any city, not really sure of rural places though. 

Edit- A nearby house charges 30k for the floor, which is not more than a 2 bhk, and am not in a posh locality, in a tier 2 city. I am not very conversant with rent rates though, so used that as a reference. 

Breakdown of grocery - 

Dairy ( includes curd, paneer, milk, butter) – 10k atleast. If you are a vegetarian, this is an integral source of protein which must not be skipped, expecially for children. 

Fruits and veggies- 10k. A person requires atleast 500 gms of these as per my understanding. Considering the average per kg rate of 100 for fruits and 30 for veggies, 10k is easily achievable if you strictly follow diet. 

Pulses, grains, oils, spices – 10k 

Packed stuff, Beverages and condiments(Tea, coffee, soft drinks, energy drinks, snacks, ready to eat, sugar or any such stuff) – 5k

Rest 10-15 k is for education, learning, and daily recreation bro. 

A good private school in a tier 2 city charges 5k very easily per month (inclusive of Co curriculur activities). I am assuming it would be atleast the same for tier 1 too. Tuitions, gyms might be a luxury (though its becoming more and more common for the middle class) 

androgame wrote:

Off topic but just an abstract thought, why do people travel ?

I mean its the same thing everywhere, mountains , rivers, and such stuff, what else ?

I get bored of places very easily.

Have travel plans for abroad, but those cost alot

P- I am not a foodie as such, mere liye to domino’s ka pizza bhi “leisure” food hi hai 

I read somewhere- “Travelling is Life”

The difference between daily routine life and going out once in a while is somewhat similar to the difference between the Flowing water (like River) and Standstill Water(Clogged Water).

Any way,

Travelling has not to be necessarily expensive.

Recently I have gone to one place by Ordinary Govt. Bus 5 hour journey. paid ticket price Rs. 300.

Return journey was through train(Shatabdi) for Rs.600+

If i had had to go general seating in Train my total cost would have been less than Rs. 200

So expenditure can be managed here as well.

I’m in late 20’s , Single right now staying with dependent parents ,
use to hold expenses for self and give rest amount to parents , I guess savings will be around 30% but not with me..
Messed up some amount beyond my capacity .. from last 2yrs was trying to settle till last month (still left with 2lakhs+ NPA😪 but still was a very good lesson for me) …
From this month I’m planning to retain 50k from my salary and plan accordingly.
If I’m back in Work from office mode may be I can save around 20-30%.
But I want to travel at least once in a year. Will see how it goes… everything is a puzzle 
 

Many People Are Unable To Save 50% But U Guys Saves 70% Thats Awesome

@Hundred_Dios @BAT_MAN

androgame wrote:

Bro 2 rooms are still a compromise, ideally there should also be a living area / study room /working room whatever you call it. So i think 25k is justified in any city, not really sure of rural places though. 

Breakdown of grocery - 

Dairy ( includes curd, paneer, milk, butter) – 10k atleast. If you are a vegetarian, this is an integral source of protein which must not be skipped, expecially for children. 

Fruits and veggies- 10k. A person requires atleast 500 gms of these as per my understanding. Considering the average per kg rate of 100 for fruits and 30 for veggies, 10k is easily achievable if you strictly follow diet. 

Pulses, grains, oils, spices – 10k 

Packed stuff, Beverages and condiments(Tea, coffee, soft drinks, energy drinks, snacks, ready to eat, sugar or any such stuff) – 5k

Rest 10-15 k is for education, learning, and daily recreation bro. 

A good private school in a tier 2 city charges 5k very easily per month (inclusive of Co curriculur activities). I am assuming it would be atleast the same for tier 1 too. Tuitions, gyms might be a luxury (though its becoming more and more common for the middle class) 

There are other expenses like electricity, water, cooking fuel, daily clothing, festivities, get togethers, gadgets, toiletries. 

But didn’t mention those as the list would have become unnecessarily long, but 50 k in my opinion is easily achievable, for a normal 4-5 member family.

All rates are based on normal offline selling price of items (since offers and discounts are different for everyone) 

@BAT_MAN

hemant_111 wrote:

I am working in IT company.. my package is around 12+ but still m in negative always. M living on paycheck to paycheck for now… Don’t know when m going to start saving and investing

How much emi you are paying per month?

https://www.quora.com/Who-gets-lung-cancer-Is-i...

not related to this thread, but read this story yesterday on quora and thought of sharing this. This story tells us how things can go out of hands very easily and a lesson to learn from it is – Lead pleasant life with whatever we have, save some for future, eat good quality food, avoid restaurant food, especially those colored food with preservatives. 

i am 23 years old we save 40-45% of our household income

DealFinderrr wrote:

i am 23 years old we save 40-45% of our household income

That’s a very good start.

androgame wrote:

Bro 2 rooms are still a compromise, ideally there should also be a living area / study room /working room whatever you call it. So i think 25k is justified in any city, not really sure of rural places though. 

Breakdown of grocery - 

Dairy ( includes curd, paneer, milk, butter) – 10k atleast. If you are a vegetarian, this is an integral source of protein which must not be skipped, expecially for children. 

Fruits and veggies- 10k. A person requires atleast 500 gms of these as per my understanding. Considering the average per kg rate of 100 for fruits and 30 for veggies, 10k is easily achievable if you strictly follow diet. 

Pulses, grains, oils, spices – 10k 

Packed stuff, Beverages and condiments(Tea, coffee, soft drinks, energy drinks, snacks, ready to eat, sugar or any such stuff) – 5k

Rest 10-15 k is for education, learning, and daily recreation bro. 

A good private school in a tier 2 city charges 5k very easily per month (inclusive of Co curriculur activities). I am assuming it would be atleast the same for tier 1 too. Tuitions, gyms might be a luxury (though its becoming more and more common for the middle class) 

I am sure you are not tracking your expense
These numbers will not be near to the actuals

Grocery for 4 should be 10k-20k (max) per month (middle /higher middle class)
anything beyond that is not basic standard of living

10-15k per month for education and recreation
what is that? can you elaborate?

I live in Bengaluru. My package is around 1lac per month but I get around 80k in-hand after ppf, tax and other deduction.
1. 30k as rent( society with all amenities and maintenance charges).
2. 10k for pub or restaurant
3. 20k person loan emi
4. 10k travelling

And then other expenses comes like phone repair or gifting.. some times I goes into negative

Looks like most people are doing a great job at savings. I barely save 50% of my earnings and don’t even take entire burden of expenses at home as I share expenses along with my dad living in our own house.

At the same time, I don’t compromise on things and do live a decent life. Neither restrict on eating out nor travelling. All thanks to COVID, we haven’t been on a vacation since July 2019 but in general we travel internationally and in India as well. Varying between 2 to 4 vacations per year.

androgame wrote:

Bro 2 rooms are still a compromise, ideally there should also be a living area / study room /working room whatever you call it. So i think 25k is justified in any city, not really sure of rural places though. 

Edit- A nearby house charges 30k for the floor, which is not more than a 2 bhk, and am not in a posh locality, in a tier 2 city. I am not very conversant with rent rates though, so used that as a reference. 

Breakdown of grocery - 

Dairy ( includes curd, paneer, milk, butter) – 10k atleast. If you are a vegetarian, this is an integral source of protein which must not be skipped, expecially for children. 

Fruits and veggies- 10k. A person requires atleast 500 gms of these as per my understanding. Considering the average per kg rate of 100 for fruits and 30 for veggies, 10k is easily achievable if you strictly follow diet. 

Pulses, grains, oils, spices – 10k 

Packed stuff, Beverages and condiments(Tea, coffee, soft drinks, energy drinks, snacks, ready to eat, sugar or any such stuff) – 5k

Rest 10-15 k is for education, learning, and daily recreation bro. 

A good private school in a tier 2 city charges 5k very easily per month (inclusive of Co curriculur activities). I am assuming it would be atleast the same for tier 1 too. Tuitions, gyms might be a luxury (though its becoming more and more common for the middle class) 

For tier 2 cities – 10-15k if enough for renting decent house (2bhk)
It will go to 25k only if you are looking fully furnished home (again not for middle/higher middle class)

BAT_MAN wrote:

I am sure you are not tracking your expense
These numbers will not be near to the actuals

Grocery for 4 should be 10k-20k (max) per month (middle /higher middle class)
anything beyond that is not basic standard of living

10-15k per month for education and recreation
what is that? can you elaborate?

I am pretty much tracking everything bro, that’s why able to quantify these figures quickly, these figures are not actuals though, my family constitution is different, but it’s in the same ball park, not being unreasonable. 

Education one I mentioned above bro, 5 k is a very normal fee for any good private school, and their Co – curriculur activities. No one would be willing to be miser on their children I guess  

Hundred_Dios wrote:

The expenses are too high…50K for groceries is too high….

- 15 to 20K in tier 1 city (excluding mumbai 😀) and 10 to 15K in tier 2 city should be on rent

- 15 to 20K on household expenditure that includes grocery, electricity, etc

- For school fees, there is a formula – some financial experts say school fee expense should be within 30% of your annual earnings.

So, assuming 1lakh take home salary and 1 kid, then the monthly expenses to maintain the family should be 40 to 50K in tier 1 city, 35 to 40K in tier 2 city. I ignored unnecessary expenses like leisure travel, outside food, etc

correct me if i am wrong

Unsure where you live but 15k to 20k in a tier 1 city will only get you a 2BHK in a very sub-par locality. Any decent locality will make you shell out at least 30k including maintenance.

And if one works for an IT firm and prefers to stay closer to office, they have to be prepared to shell out at least 35k-40k including maintenance for a 2BHK.

These are the rentals in Hyderabad at least and things are no different in Bangalore where I have my cousins staying.

Coming to school expense. Any decent school in Hyderabad would cost around Rs. 1,00,000 per annum including all expenses such as school transport, fees etc. I am not even talking about the premium ones.

@androgame @raghupro @BAT_MAN @hemant_111 @Santhu4444 @decideaim @manitian

(26) Financial Independence Retiring Early India (reddit.com)

the discussions in this subreddit would give some motivation and guide you towards FIRE