April Expenses

I have spent 72463.72 in the month of April. School Fee, insurance, cash groceries, shopping for kids cloths and medical bills are high. I spent less in cash and groceries relatively. School fee, insurance are unavoidable.

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.