How to Break Free from Credit Card Debt and Save Money?

I did something similar and it's been a game-changer. Having that emergency cushion gives you peace of mind, and SIPs are great for long-term growth. Made my finances way less stressful

6 month emergency fund in FD Health insurance Term insurance Then start equity, gold and real estate… diversify it.

You’re doing a good job with just 50k. I Appreciate it! You can do great if you start investing 15k a month in nifty 50 index mutual funds. Increase SIP every year based on your salary increase and in 15 years you’ll have 1.5-2 crores.

Stop eating outside food regularly, it will give you a hefty hospital bill in your late 40s or early 50s. Along with financial investment, invest in your health. This will save you lot of money in future (hospital bills) Join gym or yoga or any sport. Enroll your wife as well. Healthy body leads to a healthy mind leads to financial success and stability.

Make monthly budget. Stay within budget. Save whatever you have at the end of the month. I'd advise halt using cc as you can easily overspend and get into debt trap.

I think you need to be thinking of making more money. Upskill yourself, invest in a few courses, switch jobs, take up part time roles (if possible).

First make a list of expenses that fall into necessity vs expenses that are based on want. Once this is divided. I would say Monthly income, subtract the amount of necessities and keep it aside. (For example if rent is paid on 10th then consider the money as spent on the 1st day of the month) Of the remaining see how much you want to save. After the money is put into saving, use the rest for want expenses. This can be adjusted

Why are you unable to track your funds? Make a Google sheet and you and your spouse add income and expenses in it for tracking. Irrespective of the mode the expense was incurred in.

You are still doing better thn most of the people earning this much. Great job !! But, if you want to save or invest more the only way to do it is to earn more. Try to find another source of income for yourself apart from your primary job.