How much of your salary should you save in India?

But he/she should save 30\% of his or her earning to survive in an uncertain world like ours according to many experts. For example, if someone earns Rs 1 lakh per month, then he/she should save at least Rs 30,000 per month. Discipline and self-regulation are the cornerstones of a successful investment plan.

How can I save my maximum salary?

How To Save Money From Salary?

1. Make a monthly budget plan. Saving money is all about keeping track of where your money is going and controlling your expenses.
2. Cut down on your monthly expenses.
3. Save & invest in the right savings tool.

Is 20 LPA good salary in Bangalore Quora?

It also depends on the person who is saying is opinion. But I say you can have a decent lifestyle in Bangalore with 20LPA. Only people with poor financial management skills would say such a thing. To be honest, 20LPA is more than enough for a family of four anywhere in India.

What is the in hand salary for 20LPA?

So ₹3k every month, tax free.

How do you spend your salary effectively?

Steps To Put Your Salary To Good Use

1. Always budget based on your net income or the salary you get in hand after all deductions.
2. Calculate how much you spend on the basics, like rent, food, commuting, bills (electricity, internet, monthly instalments or EMIs, etc.)

How do you spend your salary wisely?

How do you manage your salary?

6 Tips To Manage Your Salary Wisely

1. Create A Budget. Create a budget based on your monthly net income.
2. Set Financial Goals.
3. Invest In Options That Work For You.
4. Pay Attention To How Much You Spend.
5. Treat Yourself…
6. Pay Off Debts.
7. Step #1.
8. Step #2.

Is Bangalore expensive Quora?

Yes . Cost of living is high . Rents , food , transport are expensive compared to Hyderabad and chennai but cheaper compared to Delhi and Mumbai . A 2 bhk (800 sqft ) in city limits in decent area will cost 20k .

How can I save tax on 15 lakhs?

The best way to save tax for a salary above 15 lakhs is to opt for the old tax regime and claim all the available deductions and exemptions on tax-saving investments. Alternatively, you can follow the new tax regime to file your income tax return.