How do you allocate monthly income?

Here’s how to get started. It’s the 50-20-30 Rule, i.e., 50 per cent of your income should go towards living expenses, i.e., household expenses, including groceries; 20 per cent towards savings for your short, medium, long-term goals; and 30 per cent towards spending, including outing, food and travel.

How much monthly income is enough in India?

According to the new law, a person cannot be underpaid from the stipulated minimum salary in India. The national-level minimum salary in India is around Rs 170 per day and 4500 Rs per month. This is the minimum salary according to the reports.

How do I plan my salary?

You should set realistic budgets for yourself and prioritize paying fixed costs first such as bills or EMIs. The 50-30-20 rule is also a great guideline you could use to efficiently budget your savings. Spend 50\% of your income on your essential bills, 30\% on your financial goals and 20\% on flexible spending.

How much should you save if you earn Rs 1 lakhs?

For individuals who earn Rs 1 lakh a month, experts suggest to first figure out exactly how much they get after taxes and deductions and then figure out expenses. “Save at least 20 percent of the salary and plan expenses from 80 percent of the salary only,” says Prateek Mehta, co-founder, Scripbox.

How much home loan can I get for 50 lakhs property?

Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85\% of that ie 42.50 lakhs. Banks also consider other specific criteria before accepting the property for granting a loan.

Is it possible to earn 50\% more than salary in sde2?

No, never. There is still a lot of money left to earn. I want a promotion, SDE2 would get 50\% more than what I am getting. Since I am living with parents in their home, so I am able to save and invest almost all of the salary. My monthly expenses are around 2–3k because company pays my broadband bill, gives me food voucher (that I spend on zomato).