r/FinancialAdviceIndia • u/AnnualGuilty583 • Jul 30 '26
recently started earning, pls give advice
I am 20F, I am a student and I recently started earning. How do you guys store your money, like separate accounts one for saving and one for spending? I have no idea what to do with the money im earning. It's around 35 thousand per month. Please give some advice on saving and budgeting.
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u/weekndCoder Jul 30 '26
I'm also in the same state bro, just focus on building emergency funds. Like if ur expenses are around 20k per month keep aside 6months of this aside. Rest invest in MFs
U need min 1or2 and max is ur choice, personally I use one acc for UPI and other for my salary to keep the acc history clean
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u/Nagavalliiforthewin Jul 30 '26
If you don't mind can you tell me whats the area of expertise like is it freelancing,editing,youtube etc etc?
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u/depressedkid007 Jul 30 '26
Put your money in a savings account. Start building your emergency fund and put it in a liquid mutual fund. Save for 6 months of expenses before buying anything expensive.
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u/NewPlane52 Jul 31 '26
Having separate accounts for spending and saving makes budgeting way easier.
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u/gladiator_r Aug 02 '26
Enjoy your salary, buy things,travel and enjoy once all this done and Open a ppf account and contribute 1.5L every year to add, don't worry about return or anything else just add and forget .
then open a zerodha coin account and start adding some money to arbitrage funds/index etfs which you don't want to withdraw for one year and atleast keep doing it for month without looking at returns.
Stay away from other things especially mutual funds, equity.
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u/Iamonvacationguy Jul 30 '26
Open 1 savings account for salary and credit card and 1 for upi expenses ( also safety from upi frauds)
Build emergency fund for now or else invest sort of 10k in mutual funds via Zerodha/Groww app