Pay day for April

I have received a salary of 85302  rupees post tax for this month. I usually save 50% of post tax salary but I am saving 65000 this month. Out of which I move 5000 to Franklin India Taxshield and rest to Franklin India Dynamic P E Ratio Fund Of Funds (60000).

I am not contributing to insurance or school fee as I may have that amount in debt funds, I will be left with 20302 to spend this month plus about 18237 previous balance in savings.

My PF() stands at as of today. I am still not able to get my PF balance from EPFO site, although I have added 5040 and from previous balance it should be  545311(540271+5040).

Travel and optimizing expenses

Last two days are a little stressful days for me with my mom getting ill, medical bills and travel expenses. Thankfully she is ok but the planning did not go well. I had to spend a fortune on flight tickets at last minute. I did notice this pattern with travel expenses where in there is no planning and end up paying high price and carry little stress. I ought to plan for my travel in June in advance to save me this time from stress.

I could have booked tickets for my mother as senior citizen in indigo site and I failed to save few bucks there. The expensive month will push my FI date further.

FI date and graph

My FI date is Oct 2022 which is 4 years 7 months which has changed due to adding income fund to emergency fund as I have enough to cover insurance premium. March was an OK month the health insurance premium was major expense and expense on cash is also low. April will be expensive due to life insurance. I was able to walk 2 KM for 20 days as part of daily exercise and listened to audio book in skill portal and was able to complete wealthy barber. I had taken spreadsheets from http://thepowerofthrift.com/build-financial-independence-chart-updating-thriftygals-charts-october-2015/ and started updating it apart from https://lab.madfientist.com/. In March I have reached 13k passive income and along with 5k rent makes it 18k passive. Next target is 14k will take another 5 months if everything goes as planned.

March expenses

I have spent 30097.34 in March. I have paid second installment 11000 for health insurance. I am including office taxi and tax bills in the expenses from now on to get complete picture. I am tracking expenses from 12 months now and from next month will be able to compare from previous years expenses, it may give me indication on how much can I expect to spend (around 40k) in April. It will be interesting to see how much year on year increase will be there.

Pay day for March

I have received a salary of 93175 rupees pre tax for this month. I usually save 50% of post tax salary but I am saving 56500 this month. Out of which I move 6500 to Franklin India Taxshield a 1000 higher to make up for 1.5 lakh 80C tax deduction and rest to Franklin India Dynamic P E Ratio Fund Of Funds (50000).

I have paid 2,750 insurance plus kid school fee into debt fund already, I will be left with 33925 to spend this month plus about 35948 previous balance in savings.

My PF() stands at as of today. I am still not able to get my PF balance from EPFO site, although I have added 5040 and from previous balance it should be  540271(5,26,289+3902+5040+5040).

Emergency Fund

I will use an emergency fund when in case of loss of employment, healthcare, emergency travel, or repairs.

I am planning to keep 12 months' expenses as an emergency fund, I am currently saving it in Franklin India Ultra Short Bond Fund. As of today, the money stands at 252,053.16 and my yearly expenses are about 319332. I still need 67278.84 to have a fully-funded emergency fund. I am hoping after furnishing this fund I will move my rent money to a dynamic fund for retirement.

3/30/2018

I have added my monthly ICICI Pru flexible income fund amount to the emergency fund as I have enough to pay for insurance and school fee in savings. The fund today stands at 49277.25 + 258063.69 (Ultra fund) = 307340.94. I still need 11991.06 which will take another couple of months and expenses have increased this month so may take more time.

04/25/2018

Ultra Fund: 259247.06 + 52510.26 (Icici income fund) = 311757.32 but I would need 322818 as per my last 12 months. As my mother is not going to stay with me for a few months so I have taken the rent in advance and now have about 15k to add to my emergency fund, once I have met the 1-year emergency fund I will transfer an additional 5k to the retirement fund and may also think about moving interest from debt funds to equity funds too. This 15k I am investing in an ultra short-term fund.

06/05/2018

My emergency fund is at 276,023.83 + 54513.98 = 330537.81. I am planning to have one year of expenses, spent 354699 last 12 months @29559 per month. Ideally, I would add money to it, but I am expecting expensive months I am having cash in a savings account.

07/03/2018

My emergency fund is at 278,050.33 + 54926.31 = 332976.64. I am planning to have one year of expenses, spent 390906 last 12 months @32575 per month. Ideally, I would add money to it, but I am expecting expensive months I am having cash in a savings account.

08/03/2018

My emergency fund is at 280302.99 + 55348.48 = 335651.47. I had planned to have one year of expenses, spent 475914 last 12 months @36608 per month but as I am having more money market investments in a hybrid fund so I am not planning to contribute and I am comfortable with the present amount.

09/05/2018

My emergency fund is at 282103.31 + 55676.17= 337779.48. I had planned to have one year of expenses but spent 487248 last 12 months @40604 per month. The amount is rising consistently, and I cannot control spending although there is very little I spend on myself. I am not going to add any amount to the emergency fund though I think covering 8 months with this fund having a hybrid fund and worst-case scenario PF is fine.  

10/08/2018

My emergency fund is at 283,900.24 + 55967.69= 339867.93 had planned to have one year of expenses, but spent 516350 last 12 months @43030 per month. The amount is rising consistently, and I cannot control spending and am spending a lot lately. I am not going to add any amount to the emergency fund though I think covering 7 months with hybrid and worst-case scenario PF is available.

01/12/2019

My emergency fund is at 377510, I wish to have 12 months of expenses which are 533856 but I am not adding any money to debt funds because I have some in a dynamic fund that will provide me with some cushion in case of emergency along with the EPF. I have about 8 months of cash readily available now.

02/04/2019

My emergency fund is at 379687, I wish to have 12 months of expenses which are 548839 but I am not adding any money to debt funds because I have some in a dynamic fund that will provide me with some cushion in case of emergency along with the EPF. I have about 8 months of cash readily available now.

03/04/2019

My emergency fund is at 382167, I wish to have 12 months of expenses which are 582640 but I am not adding any money to debt funds because I have some in a dynamic fund which will provide me with some cushion in case of emergency along with the EPF as the dynamic fund has 60% in debt funds. I have about 7 months of cash readily available now.

07/30/2019

My emergency fund is at 397222, I wish to have 12 months of expenses which is 560565, my emergency fund will cover 8 and half months. I am not increasing this amount as I have a dynamic fund that carries 80% debt and has about 25 lakhs in debt funds.

10/01/2019
My emergency fund is at 402914, I wish to have 12 months of expenses which is 499216, my emergency fund will cover 9 months. I am not increasing this amount as I have a dynamic fund that carries 65 % debt.

12/03/2019
My emergency fund is at 409586, I wish to have 12 months of expenses which is 534170, my emergency fund will cover 9 months. I am not increasing this amount as I have a dynamic fund that carries 65 % debt.

02/02/2020

My emergency fund is at 401344‬, I wish to have 12 months of expenses which is 570894, my emergency fund will cover 8 months. I am not increasing this amount as I have a dynamic fund that carries 50 % debt. The dip in funds is due to one of the debt fund losing money.

05/01/2020

My emergency fund is at 408060, I wish to have 12 months of expenses which is 566009, my emergency fund will cover 8 months. The fund I have invested in Franklin Ultra Short Bond Dir-G is suspended so the actual liquidity of my emergency fund is 95021, which will cover 2 months I have 3 more months of emergency if needed in a savings account. Hope that fund recovers some money and pays the investors, but presently I have 2 months in debt fund and extra 3 months in savings accounts.

05/11/2021

My monthly average expenses for the last 12 months are 40k and wish to save 12 months of expenses. Currently, have about 1,29,488 which will cover 3 months of expenses. I probably will start investing in the emergency fund once I get clarity on which fund to choose.

05/18/2021

I will move the money stuck in Franklin India Ultra Short Bond Fund to ICICI Prudential Savings Fund as and when the money is available, which will increase it to cover at least 5 months' expenses. I will not add any money going forward to my emergency fund and will mark ICICI Prudential Savings Fund for this.

02/25/2021

My annual expenses stand at 6.72lakhs. I have used my emergency fund to buy equity which is a mistake so I will plan to correct it. Currently, I have 1,18,645 in ICICI Prudential Value Discovery Fund, 1,430 in Quantum Equity FoF Fund, and 1,361 in SBI Small Cap Fund a total of 1,30,790. I will pause investing for a few months and will bring up the cash. Going forward I will use the RBL savings account as an emergency fund.

05/17/2022

My annual expenses stand at ₹6,32,534. I currently have ₹2,42,784 in my RBL savings account. I need to add ₹3,89,750 going forward, I will fill this and then move to invest. Any sales proceeds from equity or spare cash available will be moved to cover the emergency fund.

05/24/2022

I will have 6 months of expenses as emergency savings as I have a job and in retirement, my bucket 1 will have 2 years of cash and 6 months of emergency.  savings. Need to add ₹73,483.5 to our savings.

05/28/2022

My 6 months expenses are ₹3,18,000 (₹53,000 per month). I have sold my equity holdings and my current RBL account has emergency savings covered. Hope to not touch this amount