Investment Tips: You might be finding it very difficult to manage your life with a monthly salary of Rs 60,000. Prices continue to rise. But if you manage your money smartly, then old age will also be spent easily in the same amount of money. A popular financial YouTuber, Ankur Wariku, in his short video has told how by adopting the simple rule of 65-20-15, you can easily make your dream of becoming a millionaire come true.
Suppose your monthly salary is Rs 60,000. Now if we apply 65-20-15 in this. First 65% – i.e. 65% of Rs 60,000 will be Rs 39,000. This will be for expenses on your basic needs. Like house rent, electricity-water bill, ration, children’s school fees, medicines, which are needed the most. These are fixed expenses, there is no need to cut them, but keep them in the budget.
Then 20% – i.e. Rs 12,000. Keep these aside for your desires. Like expenses for movies, hanging out with friends, buying new clothes or gadgets, etc. And finally 15% – i.e. Rs 9,000. This is your savings. If you keep these Rs 9,000 aside every month, the total amount saved will be Rs 39,000 + 12,000 + 9,000 = Rs 60,000.
Why is savings important?
First of all, check whether you have any loan. Home loan, personal loan, credit card dues – if any, repay them first. Because the interest on the loan increases in a compound manner, which destroys the savings. If there is no loan, then next step – create an emergency fund. Meaning, keep money equal to 3-6 months’ salary somewhere safe. Like you can also invest in savings account or liquid fund. So that if you ever lose your job, get sick or have any sudden expense, you do not have to take a loan. This fund will fulfill your needs. The main advantage of liquid funds is that they offer liquidity, so that you can withdraw money quickly when needed. These give better returns than savings accounts and are less risky.
Where to invest?
If you start this rule at the age of 30-35, then you will get financial freedom at the age of 50-55. This means that even after leaving the job, life will be spent comfortably, children’s marriage and education will be completed. But this rule will benefit you only when you strictly follow it every month. If you stop investing in between or increase your expenses, everything will go waste. Also keep in mind that before making any investment, definitely consult your financial advisor.
