Personal Finance | AmbitionBox

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widemermaid

8mo

A Senior Software Engineer

I am in a bit of a weird situation...

I'm a Sr. Software Engineer making around 50k/month. I actually did mechanical engineering. Had to take a job that paid the bills though! Most of my paycheck disappears faster than a bug in a code review! 7k for student loans , 6k for the house , and another 6k for the trusty bike. Then there's the usual suspects , electricity, gas, Wi-Fi , insurance, and of course, food . All this adds up to another 14k. Help! Stuck in paycheck-to-paycheck cycle. Any money-saving tips from the budgeting gurus out there? Looking to save for the future!

askingforafriend

9mo

works at

Mahindra & Mahindra

Don't use a calculator! Use your instinct.

Which one are you picking? And, why? 1. 1 crore today 2. Double a rupee every day for 30 days

satinbaiji

1yr

works at

Info Edge

I am really unhappy with the recent interim budget! Like why is the government showing no concern for the tax-paying public? We're paying - 💵Income tax 💵GST 💵CESS 💵Tax on capital gains. Shouldn't we get something better in return? They could at least increase the limit of 80C or give loans at a discounted rate. IDK man, just something. Do you think things might improve in the main budget?

leadersheep

8mo

A Team Lead

Shaadi ke side effects = 💸💸💸💸💸💸?

If a guy makes 8 LPA and his girl makes 8 LPA, individually they are average earners. Meh! But together, their household income is in 6-figures. Some would categorize them as an upper-middle-class family. Marriage between two financially aligned individuals is the key to wealth creation. Now, would you still hate on marriage as much as you did before reading this?

gemsbond

7mo

works at

Accenture

What Are Some Smart Money Tips for New Parents?

Hey everyone, guess what?! We're expecting a little bundle of joy soon! But let's be honest, with all the excitement comes a little financial panic. I know babies are adorable, but they can wreak havoc on your wallet! Anyone else out there new parents feeling overwhelmed by the budgeting side of things? Is there anything you wish you knew about finances before your little one arrived? We're open to all advice, from essential expenses we might be forgetting to sneaky ways to save a few bucks

lejhand

8mo

A Quality Assurance Specialist

Is it necessary to hire a CA to file tax returns?

I make around 18 LPA and no capital gains since I've not sold any of my investments this year. My tax liability is coming down to around 3 lakhs after all deductions. I have done all this by myself, watching a lot of videos and talking to colleagues. Do you guys suggest going for a CA?

sleekchapati

8mo

A Team Lead

Who are your sources for financial advice?

Hey, I'm trying to get a better handle on my finances, but I'm not sure where to start. Do you have any resources you could recommend? Books, websites, anything that helped you learn about money?

freshblossom

11mo

works at

RM Education Solutions

(unverified)

Hey someone please help me with all your suggestions and real life experiences. I got a job with 18k in hand after all pf deductions and cab fees. This is my first job and first salary. I need to spend some money for parents and maybe i have a bit of shopping to do. I think i will have 8000 left with me after all expenses. I have no idea on what to do with that money. Shoukd i invest it somewhere? Should i put it on fd? Should i just save it as emergency fund? Or do you guys have any far better ideas? Please help me, i don't wanna waste my money.

velvetywoodpecker

7mo

works at

AmbitionBox

To Much Travel Expense , Not able to save Money

Hey there, try using the shuttle service provided by the office. If your office doesn't offer, try using carpooling apps like Blah Blah or Quick Ride.

healthymethi

7mo

student at

Amity University

Do you have multiple active income sources? (Job/side gigs/startups).

One source (job)

Job + freelance (side hustle)

Freelance + side hustles

Startup founder

Unemployed

29 participants

.

poll closed

udtateer

7mo

works at

AmbitionBox

My future in the hands of Nirmala ji

Kya lgta hai phirands iss baar jyada tax bacha payenge kya ? Yaa fir gair kanooni tareeko ka saharah fir se lena pdega 🫡🥺

tallented

8mo

works at

Myntra

ITR mein kitana wapis aaya?

I'm 2.5k richer after the returns, guys! Party kaha leni hai bolo.

biryanienthu

8mo

An Assistant Manager

SIP newbie here, feeling a bit overwhelmed! Help!

Hey everyone, So, I finally decided to jump on the SIP bandwagon! I have been wanting to start investing for a while now, but with zero knowledge, it felt super intimidating. Did some research on YouTube and even created a Grow account, but choosing a mutual fund company for my SIP has me totally stuck. Please help!

an operations executive

7mo

Stock Market Newbie Diving In!

Hey everyone! So, I recently took the plunge and started investing in stocks. I've been doing some research, reading annual reports, and picked a few companies I believe in. So far, so good! But here's the thing, everyone keeps talking about charts! Apparently, they're this magic key to understanding the stock market. Should I be diving into charts, crunching numbers all day, or just hand it over to the mutual fund pros? What's the usual approach here? Looking for tips from seasoned investors!

a software developer

7mo

Is it cool to use my GPay rent payments as proof for my rent when I file?

Hey there! Just wondering about filing my taxes. Can I use my GPay rent payment as receipts for ITR filing? If that won't work, any suggestions on how I can pay rent in a way that helps with my tax return?

naamnahisunahoga

1yr

A Financial Analyst

Someone from my team is leaving the company. I have joined about a month back and have met her twice at max. I've been asked to contribute Rs.1000 for her farewell. I know it's not a lot of money but I don't want to pay. I don't know her. Can I say I don't want to pay or will I come across as rude and mean?

goldenfire

7mo

student at

Babu Banarasi Das National Institute of Technology and Management, Lucknow

Struggling to Save While Keeping Up with Friends

I'm a student living in a hostel in Lucknow. My dad pays for my hostel and BTech fees, and he also gives me some pocket money for shopping and food. The hostel room is really expensive, though. My hostel mates are always up for outings and parties, and it's tough to say no. But I really need to save money to help my dad out. Any advice on how to cut back without being a total loner?

intenseparrot

8mo

An Assistant Manager

What are the biggest financial blunders most people make?

I've been reading a lot about personal finance lately, and it's crazy how some seemingly small mistakes can add up over time. Knowing what to avoid feels like half the battle! So I am curious to know what common financial mistakes do most people make without realizing it?

leadersheep

8mo

A Team Lead

How many of you guys are filing ITRs this weekend?

captivatingquirky

8mo

works at

Marico

Seeking guidance on Money Management

New member here! Need some serious guidance on how to manage money! Open to suggestions, hacks, the right finfluencers as well as previous posts!

awesomesnail

8mo

works at

Flipkart

High Earners in India - What's Your Vacation Budget?

For people earning more than 1-2 crore TC, how much do you end up spending on vacations yearly? What kind of vacations do you take? Is 10-15 lakh per year too much?🤔 And while you're at it, feel free to drop some good travel destinations!

biryanienthu

7mo

works at

Infosys

Any Investment Tips for Someone Starting Out?

Just came into some unexpected money. I did some Googling to try and figure out what to do, but let's be honest, investing feels like another language sometimes. That's why I'm reaching out to all you smart folks out there! What are some investment strategies that have ACTUALLY worked for you? Are there any hot sectors or investment types I should be looking at? On the flip side, any rookie mistakes I should avoid? Would really appreciate any insights you're willing to share! Thanks in advance!

lejhand

8mo

A Quality Assurance Specialist

Is it a mistake if I don't take my father's advice on my financial decisions?

Coming from a lower-middle-class family, my father always focused on saving money & not spending more than required. He did my taxes when I started earning but was strictly against the stock market. I have invested heavily in the past 5 years and we're constantly fighting regarding that. I also spend 20-25% of my salary on things I love to do and he thinks that's bad spending. I have decided to keep my finances personal & manage them independently. It will hurt him a lot. But, I am tired of the constant quarrels. Am I making the right decision?

gemsbond

7mo (edited)

works at

Accenture

Income tax return🤑💸💰💵

How much tax are you paying/paid this year?

<5 lakhs

5-10 lakhs

10-30 lakhs

30-50 lakhs ( I slay tax)

29 participants

.

poll closed

kaamchor

9mo

works at

TCS

Change my mind

✨Sovereign Gold Bonds✨are a much better investment than 👎mutual funds👎!

tallented

1yr

works at

Myntra

I have been investing in MF through PayTm Money all my life. I am planning to transfer my mutual fund to another brokerage platform. Which is a trustworthy platform in your opinion in India at the moment? Please share your recommendations. TIA.

cheeku

9mo

A Team Lead

Put khareedu ya Call?

Doston 4 June aane wala hai ;)

lejhand

9mo

A Quality Assurance Specialist

If you want to move from middle class to rich...

Just buy a home on loan as soon as you start working. Do you agree with this advice from Robert Kiyosaki, author of "Rich Dad, Poor Dad"?

punctualcircuit

9mo

works at

HDFC Bank

Election Results Impact On Stock Market!

The current Lok Sabha Election result trend is far from the Exit Poll predictions. How would these results impact the stock market?

satinbaiji

8mo

works at

Info Edge

When shall we sell mutual funds to book profits?

I've been investing for close to a decade now. Started with SIPs and now do lumpsum investments during dips. But, I've never sold to book a profit even though my investments have grown significantly. Sometimes, I feel I will invest as long as I work and then sell once I retire. But not sure if that's the right approach. Would appreciate all of your thoughts and tips on this. TIA.

intenseparrot

9mo

An Assistant Manager

Most common hurdles people face when managing their money.

What's your biggest challenge with managing your personal finances?

Sticking to a budget

Saving for long-term goals

Paying off debt

Others (specify if any)

40 participants

.

poll closed

leadersheep

1yr

A Team Lead

10 crore Indians will make Rs.8.3 LPA by 2027! They will be considered "affluent" and the number of affluent (those earning Rs.8.3 lakhs or above) has increased 12 times faster than the population in the last 4 years. Although this could very well be an effect of inflation, I also feel the general salary of people is increasing in the country. And, that's never a bad sign. What do you think?

shaktimam

10mo

A Software Engineer

What % of your salary do you give off to charity?

No. No. Not for tax saving. The 3 major religions - Hinduism, Islam & Christianity - advocate donating a portion of one's earnings for the good of the society. And, to keep our egos in check. How do you do that? Seeking ideas to donate in a way that would actually have an impact.

chaturchartwala

1yr

student at

Indian Institute of Technology (IIT), Kharagpur

The minimum wage in India is Rs.178/day. The minimum wage of our neighbors' are - Pakistan - PKR 850 (₹299) Bangladesh - Tk. 271 (₹542) Nepal - NPR 500 (₹323) What do you think should be the ideal minimum wage in India?

corporatepanther

9mo

A Product Manager

Best resources for Indians to learn personal finance

✅ Let's Talk Money by Monika Halan ✅The Psychology of Money by Morgan Housel ✅Also, the Morgan Housel Podcast ✅http://nauk.in/SC80ttDE ✅http://nauk.in/sqKBBnYv If you have some recommendations, please share them in the comments. Let's get richer together, people. P.S. Please share this post with personal finance enthusiasts and beginners.

jackfruitt

9mo

works at

Info Edge

Mai Sethi Sahab se poochna chahunga ki... 😅

Hike milri hai 4%, Inflation chal raha hai 5% or hm 10% INVEST kre??? Kaise? 🧐

hukumamatata

8mo

works at

Infosys

Spinteresting!

skillcandy

9mo

A Senior HR Recruiter

Do you guys increase your savings/investments by the same percentage you get a pay raise?

Just trying hard not to let lifestyle creep eat away my raise but also want it to be a sustainable strategy.

chaturchartwala

9mo

student at

Indian Institute of Technology (IIT), Kharagpur

Investors right now!

By investors, I mean me and my friends over video call. 😭😭😭😭😭😭😭😭

satinbaiji

9mo

works at

Info Edge

How much money should I save up?

I am planning to go back to college in 3 years. I intend to do my masters in English/Mass communication from an Indian government university. So, college expenses won't go beyond 1.5 lakhs. If you've gone back to being a student from being an employee, please help me with any suggestions you have. TIA.

cheeku

11mo

A Team Lead

Multiple Sources of Income

To those who have successfully generated multiple sources of income alongside a full time job: a) what are these multiple sources? b) how did you set them up? c) how much time did it take?

shaktimam

9mo

A Software Engineer

Entertaining thoughts, grievances, and solutions in the comments section.

mellowkale

10mo

works at

HCLTech

Education Loan

What proof is to be submitted for an education loan for tax benefit? PS Took loan from HDFC Credila. Will provisional interest certificate work?

lejhand

1yr

A Quality Assurance Specialist

Guys, STOP freaking out if you have used 80-90% of your credit limit just because some influencer said it will screw your credit score. Banks report your statement balance to the credit bureau. Your score is impacted by this, but if you have a month where you have a 90% reported usage, just bring it down the next month. Your score will bounce right back! P.S. My dad is a banker. So, yeah.

kaamchor

9mo

works at

TCS

Did you sell (stocks) on Friday?

Yes! 😁🕺💃

No! 😭😭😭😭

34 participants

.

poll closed

momager

10mo

A Subject Matter Expert

Does UPI make you spend more?

I mean, the last time I checked the responsibility of spending money rested upon the spender's shoulders. Why are we blaming the technology? And, fearmongering?

hukumamatata

1yr

works at

Infosys

Starbucks made a profit of $24.56 billion in 2023. Why the hell should you care? Well, it means it could give its 4,00,000 employees a raise of $11,000 and still keep $20.16 billion in profit. Capitalism is keeping us poor. Change my mind.

chaturchartwala

1yr

student at

Indian Institute of Technology (IIT), Kharagpur

50k ka government job ya 85k ka private job? Given a chance, which one would you take and why?

gurugrind

12mo

An Assistant Manager

Have heard a lot of experts suggesting saving 30 times one's annual expense in their retirement fund is decent to live comfortably after retirement. So, if my average yearly expense is 10 lakhs, I'll have to save up 3 crores to retire happily! Is this an achievable number even?

sastasuperhero

9mo

A Chief Engineer

On a scale of 1-10, rate Kangana's financial intelligence.

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