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

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Guys, just wanted to understand the monthly expenditure of people in 30-40 age group and how much of your income is being saved. I see prices of several daily consumables have raised in recent years and so the income (mainly after COVID in IT sector). So, wanted to understand if there is a real rise in income or not.

Starting with me, my monthly expenditure is 30% of my income….i live in own house in Tier 2 city with 2 kids, wife and mother. I am the only earning guy in family. Able to save 70% of the income.

Edit 1: Actual education expenses haven’t started yet

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Good to see this thread..it’s uplifting..
My inputs would be to take a vacation break atleast once a year…
It need not be a costly affair like other Dimers said..
But do plan a good vacation at early years..
Taking your kids along the trip will make them happy…
Click some pictures and videos of them and along with them..
Take these trips before getting those knee pains and joint pains…
don’t postpone or you will regret…
Cherish those memories..
Atlast during our retirement days…the pictures of the kids in those travel times would be cherished not only by us but also the grandchildren..
U get some beautiful stories to share with grandchildren..
Passbooks and bank statements won’t make you happy during these days..but only the memories u created would make u happy..
PS: strictly my personal opinion..not to hurt fellow Dimers..

Deal Subedar Deal Subedar
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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 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💪🏼

i hope that surplus is more than inflation 😜
punintended

Deal Subedar Deal Subedar
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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 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💪🏼

This is my current strategy as well, your annual spend should not surpass your annual income at the end of the year whatever you saved will be your ultimate savings

Deal Subedar Deal Subedar
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BAT_MAN wrote:

No
Got 1 forcefully on HL by SBI
Forefeited last year

I used to not have any credit card for long time. But got it from last 6 years as found it to be money saver instead of extra spend.

I know a bunch of people misuse credit card but if you use it as a tool to earn profit its great.

Also mostly I prepay credit card whenever there are offers to pay cc bill, so that’s extra saving.

I would have just one suggestion to all. Keep saving buckets for everything, education, medical, emergency, travel, luxury .

Utilise the bucket until it’s capacity and be happy.

But hard part is to cut on current expenses and start saving for your bucket of happiness

Deal Subedar Deal Subedar
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One thing would like to share here that if you guys have option to put extra money in PF using VPF … Voluntary PF in your organization then go for the max cut from your basic.
This will reduce your in hand and once you get less, you will avoid unnecessary spends.

Deal Lieutenant Deal Lieutenant
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hedhar wrote:

One thing would like to share here that if you guys have option to put extra money in PF using VPF … Voluntary PF in your organization then go for the max cut from your basic.
This will reduce your in hand and once you get less, you will avoid unnecessary spends.

Government will some day make interest 3% and we’ll become paupers

Deal Baba Deal Baba
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hedhar wrote:

I used to not have any credit card for long time. But got it from last 6 years as found it to be money saver instead of extra spend.

I know a bunch of people misuse credit card but if you use it as a tool to earn profit its great.

Also mostly I prepay credit card whenever there are offers to pay cc bill, so that’s extra saving.

I would have just one suggestion to all. Keep saving buckets for everything, education, medical, emergency, travel, luxury .

Utilise the bucket until it’s capacity and be happy.

But hard part is to cut on current expenses and start saving for your bucket of happiness

Due to lockdown, from last 2 yrs no significant use of cc
Only expenses are grocery, veggies and medicines
Getting cc for this seems overhead to me

Deal Subedar Deal Subedar
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decideaim wrote:

Government will some day make interest 3% and we’ll become paupers

In last 50 years it’s better than fd… If we are the unlucky ones can’t help.  pensive

Deal Lieutenant Deal Lieutenant
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androgame wrote:

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. 

government employees hardly get any increament 🤨

Deal Subedar Deal Subedar
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Imharsh wrote:

goverment employees hardly get any increament 🤨

And hence most of them get other ways of increments 🥳. No offence and take none ….

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Imharsh wrote:

government employees hardly get any increament 🤨

Govt employees get regular increments.. haven’t you heard of 6th pay commission, 7th pay commission etc.. and the topic of DA and the fights for it? Every few quarters, DA keeps going.. and when pay commission recommendation gets implemented, DA component gets added to salary and DA gets reset to 0, only to be incremented in the next quarter again going forward.

Deal Lieutenant Deal Lieutenant
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santosh_blr wrote:

Govt employees get regular increments.. haven’t you heard of 6th pay commission, 7th pay commission etc.. and the topic of DA and the fights for it? Every few quarters, DA keeps going.. and when pay commission recommendation gets implemented, DA component gets added to salary and DA gets reset to 0, only to be incremented in the next quarter again going forward.

Increament is not like IT sector guys

Deal Subedar Deal Subedar
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Imharsh wrote:

Increament is not like IT sector guys

More than needed for the amount of work they do stuck_out_tongue_closed_eyes

Deal Lieutenant Deal Lieutenant
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santosh_blr wrote:

More than needed for the amount of work they do stuck_out_tongue_closed_eyes

Not applicable to everyone, right now I am at work at 01/00 😚

Critic Critic
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Imharsh wrote:

Not applicable to everyone, right now I am at work at 01/00 😚

You are among the minority, most govt jobs are 9-5 type & anything beyond that is usually time pass for the sake of late sitting allowance(at least in PSUs). Another thing to note is, govt jobs can be quite relaxing mentally if you have no ambition & willing to compromise with the system.

Pro Community Angel Pro Community Angel
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Imharsh wrote:

government employees hardly get any increament 🤨

Don’t have much idea about government employees bro, but most of them whom I know have some kind of side business running (not illegal ones wink. ) 


Many have rented properties, do property dealing, stock market. 


Since, its a general conception that government jobs leave you with alot of time (barring a few profiles) as compared to their private counterparts, so you can think of other avenues for money while having job security. 


Elite Elite
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kukdookoo wrote:

paji making a thread on this, will love to see your comment

By “Not having to buy” I meant you get ownership of a house/flat as part of inheritance/gift or you get to live in a house/flat free for life because of some relationship. Essentially you get a free house/flat and hence don’t have any obligation to buy a house/flat of your own. It was not about one having the luxury of a choice whether to buy a house or rent.
BAT_MAN

Deal Baba Deal Baba
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ontherocks wrote:

By “Not having to buy” I meant you get ownership of a house/flat as part of inheritance/gift or you get to live in a house/flat free for life because of some relationship. Essentially you get a free house/flat and hence don’t have any obligation to buy a house/flat of your own. It was not about one having the luxury of a choice whether to buy a house or rent.
BAT_MAN

Haven’t received notification for this
I got your point
Not reason why i was tagged

Deal Subedar Deal Subedar
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Started working late around 28 (2016) on 35 k in hand salary
Currently around 67k In hand.
Have Been able to mobilise till date fixed savings instruments (10L approx ) + 2 L approx in equity + nps …no cc , no loan and emi, been sharing 25-30% of family expenses, Own home and dad still working been helpful through all this

Deal Cadet Deal Cadet
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abhi1047 wrote:

Started working late around 28 (2016) on 35 k in hand salary
Currently around 67k In hand.
Have Been able to mobilise till date fixed savings instruments (10L approx ) + 2 L approx in equity + nps …no cc , no loan and emi, been sharing 25-30% of family expenses, Own home and dad still working been helpful through all this

inspiring… keep going plus1 pray

Deal Subedar Deal Subedar
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I should stop buying facial kits

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