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HYSA anyone recommends?
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And the rest is history 😅
Hello Sharks, My HR interview is scheduled with an US MNC for one of the niche skills in MarTech space for an IT consultant role. May I know how much salary should I expect? I am expecting around 35 to 45 LPA My current CTC is 18 LPA and YOE 10 years. This is a fully remote position
Accenture Tata Consultancy Deloitte Adobe
Hello fishes,
I am currently serving notice period and holding below offer.
Company x : ~ 47LPA ( 37 LPA fixed + 6.66 L variable + 3.1 L pf & gratuity)
My CCTC is 35 LPA ( 32 L Fixed + 3 L variable)
YOE : 10
Tech stack : Database/AWS
I currently live in Pune, based on this how much should I expect from ServiceNow for IC4 | Staff Database Engineer position for Hyderabad location?
HR round may happen next week so need your help on deciding this.
ServiceNow
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Would take SC2s tracker a step further.
Call it a Spend Plan instead of a budget because plans happen before you take action, and budget implies having something restricted or taken away which we naturally resist.
1. List all income sources and treat all income the same. Found money should be consolidated with salary and not treated separately for side spending.
2. Break expenses into fixed and variable.
3. Use rules of thumb percentages (google) to allocate “after tax” income across expenses. Example: housing should be less than 30% of after tax income. (Don’t forget to include savings and party money)
4. After you “plan” how much you can afford in each bucket, compare to what you actually spend.
5. If you are over, make lifestyle adjustments to get in the black. If you are under, allocate surplus to savings. Note: surplus never goes to increase a spend category like a nicer car - only to debt elimination or savings.
Tips:
Centralize all income into a single “pass through” checking account.
Consolidate all possible expenses onto a single rewards credit card. (Rewards are an effective discount on spend, and consolidation means 1 payment.)
If you have debt, pay the smallest balance (not interest rate) first, as it is optimal for cash flow management.
Savings can be further broken down into:
1. Cash (6-9 months of expenses)
2. Retirement
a. 401k - Max
b. IRA - Max
c. HSA - Max
3. Non-retirement
a. Brokerage etc
Do this consistently and you’ll be rich. 👍🏼
Get two audio books or books:
- Richest Man in Babylon (George Clason)
One or more of these :
- Total Money Makeover (Ramsey)
- Young, Fabulous & Broke (Orman)
- Millionaire Next Door
- Rich Dad, Poor Dad
- Your Money or Your Life
These should give you a good mindset about personal finance, after this it's pretty simple
- Live below your means (save)
- 3-6 months emergency fund
- Max out your tax advantaged accounts (at least contribute the match)
- No need to pick stocks, stick to Index Funds.
- stop renting when you have 20% down payment.
- take time to think about your career and ways of increasing your income.
- pay your credit cards at the end of the month. If you can't, develop a plan to pay them off within a year.
- give back to your community (donate or volunteer)
- stop trying to keep up with the Joneses.
Your local middle school?
Step 1 is to build a simple budget tracker in excel, which contains all your monthly personal expenses, and savings, this will be more useful than almost any personal finance course.
Also download “mint” and load all your cards in to really see where your money is going to help you decide if you need to make adjustments in your life for your goals.
OP It’s a legitimate question and is really not taught adequately in any school or by most parents. I have read dozens of personal finance books, many blogs, and listened to hundreds of hours of radio and podcasts from people like Bob Brinker, Clark Howard, and Dave Ramsey to educate myself. I also give (sometimes unsolicited) advice to new consultants fresh out of school to get started with their 401k etc.
Personal finance is a very neglected area in most people’s educations, and it’s very unfortunate when the only information you get is from someone trying to sell you something.
SC1- I wish I learned personal finance in middle school...or high school....or college...
I studied nursing in school - never took a finance class in my life! Wish I was forced to
Definitely not r/wallstreetbets
You could pick up one of the Dave Ramsey books like Total Money Makeover, which is focused mostly on getting out and staying out of debt, but does have a straightforward system that works if you follow it. Ramit Sethi’s book I Will Teach You To Be Rich might be closer to that average consultant’s lifestyle as he focuses more on developing automated systems for most of the mechanics of personal finance and also focuses more on increasing income than cutting costs.
Your Money or Your Life is good for general mindset and setting priorities, but the concrete practices they recommend I think are outdated given the ultra low interest rates available on fixed income investments now. That book advises building up fixed income to cover your expenses and while conceptually that makes sense, in practice a mixed equity / income portfolio would do better.
I’d recommend investing in You Need A Budget. Personal budgeting software that imports your bank statements and allows category based budgeting. I reckon this saves me about £300 a month
Try KhanAcademy.org
They have a personal finance track.
What the hell is Alvarez & Marsal and who invited you? Sit down.
Or what? 🙄
Thank you everyone! These are helpful! To all of those who are commenting negatively, it’s not like I don’t understand the concept of saving money but it does get quite confusing between the different types of investments and I wanted a high level overview of personal finance to figure out what plan works for me
What’s your goal? The answers will vary depending on what you want to achieve.
I can provide it for free
Seriously? This is not real is it?
Join the personal finance bowl
Manager 1 you have no idea who you may run into. Your answer to my response was juvenile at best and moronic at worst. So your approach will carry over into your work with co-workers and clients. So be careful WHO you are a smart ass to. It will likely catch up to you.