I have spent about 18285 rupees.
Credit card : 10414
Debit card : 6903
Reliance gift card : 966
Credit card : 10414
Debit card : 6903
Reliance gift card : 966
Thursday 31 August 2017
Wednesday 30 August 2017
Pay day
I have received a salary of 80912 rupees post tax for the month of August. I should save 50% of post tax salary but I am not going to consider bonus in that calculation so pay minu bonus is 53409. My investments this month should be (53409/2) = 26704.5 + bonus (27503.00) = 54208. Out of which I move 5500 to Franklin India Taxshield and rest to Franklin India Dynamic P E Ratio Fund Of Funds (48708). I have checked indexation benefit for Dynamic fund and I am hoping I would make about 10% overall after tax.
I have paid 2750 insurance plus kid school fee into debt fund already, I will be left with 23954 to spend in the month of September.
My PF(502837) and Gratuity (156801) stands at 659638 as of today.
I did receive 510 rupees as dividend so should invest those too.
I have paid 2750 insurance plus kid school fee into debt fund already, I will be left with 23954 to spend in the month of September.
My PF(502837) and Gratuity (156801) stands at 659638 as of today.
I did receive 510 rupees as dividend so should invest those too.
Tomorrow is bonus and pay day
I am really looking forward for bonus and pay, had not been a good month in office but hoping I would atleast have a little cheer tomorrow.
I missed my mobile payment date and had to pay penalty and now am thinking of moving to Jio. No I got this wrong I have time till sep and Jio is 4G so I have to check if my mobile is compatible.
My mobile is not 4G compatible.
My mobile is not 4G compatible.
Tuesday 29 August 2017
MOney in one pot
Now that I have all my money in a single pot I just have to watch it. I am aware that I could lose about 1/3rd of it but until the pot is 25X I am not going to touch or make any other investments or buy investment related material.
Monday 28 August 2017
Consolidated the money
I have almost consolidated the money into MF just that I an left with 8k to be processed and have to think about what to do with money left after paying credit card bill this month. Will it be good idea to move to emergency fund with which I can meet immediate needs or just keep the money in saving account as I am sure I will utilize it someway as expenses will shoot up. I probably will keep it in savings account.
Sunday 27 August 2017
Current situation
All though I am not financially independent I consider my self in an ok position.
I have no debt, no mortgage and have about 11X my expenses, even if I am laid off tomorrow I will be able to cover my monthly bills with the support of rent and 4% rule. I own some property but my Mother keeps the money and never asks me for money, as she is going to be with me I am hoping I would get the money, currently my elder sister manages the money. The next time I go to my home town I should apply for a new debit card and should take control of the money.
Whats the worst that could happen?
May be I won't get the rent and I will have about only 33% of monthly expense, being in such scenario is not a good thing. I should look for ways to make more money so that in absence of job I should be able to generate some money if not equivalent to my salary. A 10k per month in job loss is valuable. I should start to make 500 rupees.
Target 1 :
500 rupees in next 5 months that is end of Jan 2018 not from salary or investments or rent. I should work on side to generate this money.
What can I do to achieve this?
1. Will sell some books I have.
2. Will participate in online surveys (12/8/2017) I have participated in Opinion world surveys and got 500 rupees gift voucher. Its a start none the less.
But above or not viable long term sources.
I have no debt, no mortgage and have about 11X my expenses, even if I am laid off tomorrow I will be able to cover my monthly bills with the support of rent and 4% rule. I own some property but my Mother keeps the money and never asks me for money, as she is going to be with me I am hoping I would get the money, currently my elder sister manages the money. The next time I go to my home town I should apply for a new debit card and should take control of the money.
Whats the worst that could happen?
May be I won't get the rent and I will have about only 33% of monthly expense, being in such scenario is not a good thing. I should look for ways to make more money so that in absence of job I should be able to generate some money if not equivalent to my salary. A 10k per month in job loss is valuable. I should start to make 500 rupees.
Target 1 :
500 rupees in next 5 months that is end of Jan 2018 not from salary or investments or rent. I should work on side to generate this money.
What can I do to achieve this?
1. Will sell some books I have.
2. Will participate in online surveys (12/8/2017) I have participated in Opinion world surveys and got 500 rupees gift voucher. Its a start none the less.
But above or not viable long term sources.
Thursday 24 August 2017
Festival
Happy Vinayaka Chavithi
Today is Vinayaka Chavithi I used to like this festival with sweets and visits to temples near by then one day my father had heart attack and was admitted to hospital. I still remember my aunt finished puja when my father is in hospital and I was in 5th standard at that time. Its never the same anymore. Traditions are taking backstage.
I would be finishing moving my money to dynamic fund tomorrow.
I have read fourpillarfreedom.com blog yesterday and the guy is 20 something and is way more matured, he was talking about making more money than fiddling with 1 or 2 percent increase in returns. He is true, money base is more important now then return on investment.
Wednesday 23 August 2017
Moving to Mutual funds instead of stocks
I am stressed at work and not able to coupe with direct stock investing so I have moved all my investments to basically four mutual funds.
1. Franklin India Dynamic P E Ratio Fund Of Funds - Direct - Growth
Never know when I will be out of job so a steady growth with minimum risk is what I am looking for. This fund is basically treated as debt fund for tax purpose so I have to pay my tax bracket with in 3 years and 20% with indexation after 3 years.
2. Franklin India Ultra Short Bond Fund Super Institutional Plan - Direct - Growth
My emergency fund gives about 8 % and indexation benefit at the end of three years but basically for any emergency. I do calculate it in my net worth.
http://www.livemint.com/Money/MLT8jvYSgBa5TC99nBMKKL/How-to-plan-and-save-for-emergencies.html
Ideally, a situation should tick three boxes for you to justify dipping into this fund:
My tax saving fund, I save about 5500 every month so that I would meet 1.5 lakhs under 80C.
4. ICICI Prudential Flexible Income - Direct Plan - Growth
To save for term plan and kid school fee. I save about 2750 every month so that I will not feel burden of paying them. I do not calculate this in my net worth.
***
21-07-2018
I am no longer saving 2750 in income fund because I think I can manage with existing income and worst case I can cover with emergency fund.
I will stick with original plan to have 25 times my last 12 month expenses in PE fund, it would be a decent foundation to start and can accumulate wealth once I am FI and divert to index funds after.
Also I do not think I should save in PE fund expenses are high but rather divert fresh investments into index funds, the funds of my choice are UTI Nifty Index Fund and UTI Nifty Next 50 Index Fund due to low cost. I should remember that it is very risky and with market in peak I should invest for at least 10 years. Hoping to divert pe fund money into these once it complete 3 years which will be Sep 1st 2020.
1. Franklin India Dynamic P E Ratio Fund Of Funds - Direct - Growth
Never know when I will be out of job so a steady growth with minimum risk is what I am looking for. This fund is basically treated as debt fund for tax purpose so I have to pay my tax bracket with in 3 years and 20% with indexation after 3 years.
2. Franklin India Ultra Short Bond Fund Super Institutional Plan - Direct - Growth
My emergency fund gives about 8 % and indexation benefit at the end of three years but basically for any emergency. I do calculate it in my net worth.
http://www.livemint.com/Money/MLT8jvYSgBa5TC99nBMKKL/How-to-plan-and-save-for-emergencies.html
Ideally, a situation should tick three boxes for you to justify dipping into this fund:
—it should be unexpected,
—it should be a need and not a want or desire,
—it should be unplanned, urgent and something that cannot be postponed. These would be situations like losing your job, a medical emergency, travel to take care of urgent family matters.
3. Franklin India Taxshield - Direct - Growth—it should be a need and not a want or desire,
—it should be unplanned, urgent and something that cannot be postponed. These would be situations like losing your job, a medical emergency, travel to take care of urgent family matters.
My tax saving fund, I save about 5500 every month so that I would meet 1.5 lakhs under 80C.
4. ICICI Prudential Flexible Income - Direct Plan - Growth
To save for term plan and kid school fee. I save about 2750 every month so that I will not feel burden of paying them. I do not calculate this in my net worth.
***
21-07-2018
I am no longer saving 2750 in income fund because I think I can manage with existing income and worst case I can cover with emergency fund.
Subscribe to:
Posts (Atom)