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

I will receive a freelance fee and was going to buy my first premium phone. Well, you guys just made me drop my purchase.

Going by this thread i am thinking what i am doing with my life

I am late in 20s lives in delhi have own house with a family of 6 working in family business or one can say shop from last 10 years but till date haven’t calculated how much i am earning, how much spending and what are my savings. I eventually buy stuffs which i want to buy whether i really need it or not like a year ago i purchased a convection microwave for 15k but till now have only used it for 5-6 times, 5-6 months ago purchased an iphone but till now my thinking is clear have some funds available with you and live for today not tomorrow cause no one in the world can tell what happens tomorrow although these thoughts are subjective

Also an important expense is not calculated here by everyone which is gifting whether within family or outside, i gift approx woth 50k a year only to my wife alone

Saving 70%-95% 

rahulsoni0706846 wrote:

I gift approx woth 50k a year only to my wife alone.

That’s not gifting XD

Cody wrote:

BTW bro what work you doing? means on which post?

Just about to end my formal education bhai, in the transition phase towards employment.

But all the comments aboce have been based on experiences during last 2 years (lockdown)

rahulsoni0706846 wrote:

Also an important expense is not calculated here by everyone which is gifting whether within family or outside, i gift approx woth 50k a year only to my wife alone

Thats really a luxury or say “wants” category item, people not counting those here as that’s completely variable 

androgame wrote:

Thats really a luxury or say “wants” category item, people not counting those here as that’s completely variable 

But one has to start gifting at some point in life like a birthday or anniversary of a coworker, marriage or reception in relatives or society etc in my opinion anyone who is social will start gifting at some point

interesting people earning 1lakh/month saves same as 45000/month people 🤨

popeyemask wrote:

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

Completely agree bro, get all basics covered (term, health and emergency) and then live life one day at a time and enjoy (whatever means u like, travel, eat, solo trips, meditation etc)

rahulsoni0706846 wrote:

Also an important expense is not calculated here by everyone which is gifting whether within family or outside, i gift approx woth 50k a year only to my wife alone

Thats called Tax (& marriage) saving.

Seinfeld wrote:

Thats called Tax (& marriage) saving.

😅

Seinfeld wrote:

Thats called Tax (& marriage) saving.

needs to be declared as gift for the tax saving part, which I assume most people dont

srp321 wrote:

needs to be declared as gift for the tax saving part, which I assume most people dont

I was kidding bro.. 

A husband can gift her wife as much as he wants without any tax implications, however any further income on the gift is taxable on behalf of the husband.

However gifting precious wifeys in kind is always helpful for a good and turbulence free future.

rahulsoni0706846 wrote:

But one has to start gifting at some point in life like a birthday or anniversary of a coworker, marriage or reception in relatives or society etc in my opinion anyone who is social will start gifting at some point

True, but if someone is gifting then it’s most likely he/she would also be receiving gifts, so that ultimately nullifies the effect (approximately). 

So, just for sake of simplification.  

Imharsh wrote:

interesting people earning 1lakh/month saves same as 45000/month people 🤨

Bro just depends on which stage of life people are, 40-45k is a bootload of money for a fresher. But, requirements keep increasing gradually as people mature and families extend. 

Ideally, this transformation should be covered through promotions and increments. 

A “household” income of 20l+ is sufficient to save a good amount for retirement while also living a fulfilling life in the present scenario. 

androgame wrote:

True, but if someone is gifting then it’s most likely he/she would also be receiving gifts, so that ultimately nullifies the effect (approximately). 

So, just for sake of simplification.  

True, but you can’t count those return gifts to nullify your spends on gifts for example the gift you get in return can totally be of no use for you

rahulsoni0706846 wrote:

True, but you can’t count those return gifts to nullify your spends on gifts for example the gift you get in return can totally be of no use for you

Then again, you might forward it and save on your further gifting spends, you know how gifting game works

androgame wrote:

Then again, you might forward it and save on your further gifting spends, you know how gifting game works

😉

rahulsoni0706846 wrote:

Also an important expense is not calculated here by everyone which is gifting whether within family or outside, i gift approx woth 50k a year only to my wife alone

well gift gold coins and ornaments and eventually divert it to investment accounts 😜.

Also, for gifting non-family members, gift gold ornaments. You may recieve same in return gifts. I have experience with son-papdi in diwali. Hopefully, it would  work similarly in gold gifting 😂

TempAcc wrote:

well gift gold coins and ornaments and eventually divert it to investment accounts 😜.

Also, for gifting non-family members, gift gold ornaments. You may recieve same in return gifts. I have experience with son-papdi in diwali. Hopefully, it would  work similarly in gold gifting 😂

Pro people gifts gold legend gifts soan papdi

Random123 wrote:

Thanks for starting this thread and to everyone for sharing their experience. It is really nice to know different perspectives. Will try to share mine.

60% savings and investment – NPS, MF, Stocks(Ind and US), SGB
15% needs
15% wants
10% donation

Like to travel but more as experience. Take a week off (Work in IT and take 9 days including both sides of weekend) in a month and travel a particular state. Sometimes go for treks. Prefer traveling between places during night using public transport instead of staying at hotel. Try to eat at annadanam (places which serve food for free) and pay them in return for the service to support them. Sometimes go for long distance cycling. Try to go for vipassana sessions once a year. This is during solo travel but sometimes travel with family.

Currently live with parents in own house bought recently.

Recently taken term insurance and always try to keep emergency fund of at least 6 months salary. Have some ESOPs given by company as backup funds.

Work with NGOs as part of CSR team in company and donate some amount whenever possible.

Try to use mobile phones, clothes and similar things for as long as possible until the wear and tear takes over.

Buy some books and donate them to libraries once completed.

I have taken some CCs recently but have currently used them only to buy online gold coins as investment during offer time. And pay back right after the purchase.

Just sharing my experience and glad to hear and learn from others. Please do let me know if you have any suggestions. Cheers

exactly sound like long term infoscion with work life balance and contended with what you have.

The above does mean people in TCS,WIPRO,HCL, COGNIZANT will not have such life.

But yeah too cool  to have 9 offs in a month sound like PM material 🤣.

pun intended and no offence please.

rahulsoni0706846 wrote:

Going by this thread i am thinking what i am doing with my life

I am late in 20s lives in delhi have own house with a family of 6 working in family business or one can say shop from last 10 years but till date haven’t calculated how much i am earning, how much spending and what are my savings. I eventually buy stuffs which i want to buy whether i really need it or not like a year ago i purchased a convection microwave for 15k but till now have only used it for 5-6 times, 5-6 months ago purchased an iphone but till now my thinking is clear have some funds available with you and live for today not tomorrow cause no one in the world can tell what happens tomorrow although these thoughts are subjective

You are true dimer and you landed at right place to know your expens3s

TempAcc wrote:

Also, for gifting non-family members, gift gold ornaments. You may recieve same in return gifts. I have experience with son-papdi in diwali. Hopefully, it would  work similarly in gold gifting 😂

nice option, as long as one encounters a pricipled man who stand on his principles and gift son-papdi always.

playdime wrote:

exactly sound like long term infoscion with work life balance and contended with what you have.

The above dies mean people in TCS,WIPRO,HCL, COGNIZANT will not have such life.

But yeah too cool to true to have 9 offs in a week sound like PM material 🤣.

pun intended and mo offence please.

Thanks and none taken. Sorry if I intended that everyone can get such leave. It is not every month (maybe once in 2-3 months) and will try to complete the work in advance so that it doesn’t affect the teammates when I am absent. Also I work as software engineer.

I know easier said than done but I hope everyone finds their own fulfilment irrespective of the virtual entities (company in my case) which seem to have control of our lives in these times. 

Ambition is generally perceived to drive people but I have only felt it inflate my sense of identity and ego. Being content is not permanent state and we have to be aware of it every minute.

I believe everyone has their own understanding of life in terms of desires and expectations and all one can do is try their best to live and enjoy it and add something to this world along the journey if possible but try not to subtract :) 

Just sharing my thoughts and sorry if I said anything wrong

Random123 wrote:

Thanks and none taken. Sorry if I intended that everyone can get such leave. It is not every month (maybe once in 2-3 months) and will try to complete the work in advance so that it doesn’t affect the teammates when I am absent. Also I work as software engineer.

I know easier said than done but I hope everyone finds their own fulfilment irrespective of the virtual entities (company in my case) which seem to have control of our lives in these times. 

Ambition is generally perceived to drive people but I have only felt it inflate my sense of identity and ego. Being content is not permanent state and we have to be aware of it every minute.

I believe everyone has their own understanding of life in terms of desires and expectations and all one can do is try their best to live and enjoy it and add something to this world along the journey if possible but try not to subtract :) 

Just sharing my thoughts and sorry if I said anything wrong

Not at all. Speaking your heart is not hurting.

Didnt expect such an immense response from dimers when I started this thread. I felt good when I hear some of the fellow dimers start thinking of unloading the bad expenses and focusing on savings. Keep going dimers

single, 2bank accounts (one dormant), 1 debit card, 1 credit card, No Debt, No Loans/EMIs, No long term plans to purchase house/plot/vehicle

I do not have a conscious interest to do any savings per month per se., that also does not infer that I run afoul with my expenses and all; I have a set target on what my expenses should be and am very meticulous at logging every expense incurred.I’ve been using Walnut since mid-2016, which is like super duper helpful to track such stuff. Sure there would always be some unwarranted huge expenses which cannot be forecasted but I am open to the fact that’s something to look out for.

My primary goal is that I do not remain deficit for any specific year (lets say all expenses incurred in 2021 < income_2021)

Any surplus amount I’ve achieved in that year be it a few hundreds or thousands is my ultimate savings💪🏼

rockinfreakshow wrote:

single, 2bank accounts (one dormant), 1 debit card, 1 credit card, No Debt, No Loans/EMIs, No long term plans to purchase house/plot/vehicle

I do not have any conscious interest to do any savings per month per se., that also does not infer that I run afoul with my expenses and all; I have a set target on what my expenses should be and am very meticulous at logging every expense incurred.I’ve been using Walnut since mid-2016, which is like super duper helpful to track such stuff. Sure there would always be some unwarranted huge expenses which cannot be forecasted but I am open to the fact that’s something to look out for.

My primary goal is that I do not remain deficit for any specific year (lets say all expenses incurred in 2021 < income_2021)

Any surplus amount I’ve achieved in that year be it a few hundreds or thousands is my ultimate savings💪🏼

Any surplus amount I’ve achieved in that year be it a few hundreds or thousands is my ultimate savings 🏼

I personally think this is a wrong strategy, ideally it should be save before you spend, rather than saving the surplus after expenses, unless it’s some good percentage of your paycheck that is left as surplus.

decideaim wrote:

I personally think this is a wrong strategy, ideally it should be save before you spend, rather than saving the surplus after expenses, unless it’s some good percentage of your paycheck that is left as surplus.

well… maybe its a wrong strategy, am not denying that but that’s the strategy I am going with and moreover content with😇