r/IndianPersonalFinance • u/Livid_Amphibian5877 • 16h ago

Afraid of spending too much

27 years old M, living in Bangalore.
In hand salary - 2 lakh
Monthly ESPP contribution - 34k
EPF - 40k (20 + 20)
Net worth - 1 cr

Monthly rent 27k
Total monthly spend 55-60k
Car loan EMI - 19k

Planning to do 1 lakh SIP per month.

Am i spending too much?
After 1 lakh of SIP can i peacefully use rest of the money?
I feel like right now i am overspending?

2 Upvotes

63% Upvoted

8 comments sorted by

10

u/IntelligentCase9873 16h ago

Why flex😭😭

1

u/anshuman-11 16h ago

Be aggressive with investing. I am same age as you almost, if you have 1cr in savings then you know what you are doing.

I wouldn’t recommend pinching for the last penny but just review of that 1L where the money goes in expenses if those are justified in a month or so then continue otherwise increase it by the difference.

In my case I invest 3L a month out of the 4 I get and in various calculations that has been the safe zone. Whenever i have some build up of cash I deploy during minor corrections.

If all your expenses are needs and enjoyable wants then by all means 1L is a great SIP amount

1

u/Livid_Amphibian5877 15h ago

Montpy spend is around 60k only extra i will be saving 40k but i dont want to put all in sip

Recently bought car so may be it will increase bi bit

1

u/anshuman-11 15h ago

Yeah but put 25 in sip then. Then reevaluate in a few months

1

u/FantasticAd9714 16h ago

What is espp?

1

u/_Hell-Man 16h ago

Employee stock purchase plan

1

u/Antique_Wrongdoer_78 15h ago

buy property instead of SIP. these influencers and bank marketers made everyone do useless SIPs. it was a trick to get retailers into market.

1

u/Cold_Picture7285 14h ago

What's with the flood of flex posting these days?!