Pay day for April

My post tax salary after deductions like medical premium, transport, pf and share contribution is 94555. I am planning to budget for 40000 expenses and after paying credit card bill I am left with 43965. I have sip worth 20000 so I have to invest 23965 in nse 100. My PF stands at 936442 as of today.

Envelope system for budgeting

I am planning to implement budgeting for month of May.

Monthly: 

Cook - 4000

Apartment - 1500

Mobile - 200

Transport - 2500

Petrol: 600
Cash: 4500
Electricity: 2750
Groceries: 9000
Medical: 5000
Eating out: 1500
Miscellaneous: 3500
I am planning to spend 35000 next month have to see how much I will spend.


01-07-2019 : I had not implemented it.

Plan to move my existing funds to index

I have 6 funds in my portfolio and I have to bring them down to 5 funds, two index (nifty and Nifty Next Fifty), two ELSS funds(for rotation after 3 years) and one debt fund (Franklin India Ultra Short Bond ). I should move ICICI Pru Savings Direct -G to Franklin India Ultra Short Bond after 3 years May 29, 2018 -- May 29 , 2021.

I should also move Franklin India Dynamic PE Ratio FoF Direct-G to NSE 100 at 1 lakh a month. Aug 22, 2017 -- Aug 22, 2020.

Should I move my money from ELSS? I should invest about 41k for tax cut. I can move 1.23L and rotate for 3 years? I will sell Franklin Tax and invest in ICICI tax but rest of the money goes to NSE 100 and if after 3 years the MF is in loss I will continue, if not take out money and invest in nse 100. I have redeemed Franklin tax on 8th(MOnday) and received money on 11th (Thursday) and invested money as planned.

Just to know when will I receive my SPP money when I place sell order on MOnday. I have received SPP money in two days (Wednesday)

March Expenses

I have spent 52604.87 in the month of March. Cash, Insurance, Groceries, Internet and Medical bills are high. I should plan to spend less in cash this month and month of April will also be high due to life insurance payment. Expenses are skyrocketing although I am spending next to nothing on myself. Have to see if I buy groceries at local store will my bill be lower should meticulously plan for it.

FI date and graph

I am including taxes as expenses for last 2 months and this is pushing my FI date further, I am actually not spending this money to fund my lifestyle and I am thinking not to include it in expenses if I am FI currently I will fall under zero tax bracket and will not pay any tax, on the other hand health insurance, life insurance and travel expenses are some thing I am spending and will continue to spend post FI, so I am removing tax hence forward while calculating my expenses. My FI date is now 6 years and 10 months and I am increasing my expenses month on month and have to control spending. Jan 2026 will be my FI date.

25-04-2019

I think I will be subjected to tax as my last 12 month expenses are close to 6 lakhs although tax will not be as big as now but I will be missing by not calculating tax as expense.