Hi, I need a financial advance.
My salary will be 1 Lakh soon, but I have no idea how to manage it.
I hardly have any personal expenses and also don't need to contribute for home expenses.

I will be turning 26 soon.
So what will be the best utilisation of my salary. How should I go about spending and saving it?

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Start with an emergency fund, up to 5 Lacs.

Start SIP in Index, Large, Mid, Small, Flexi, Multi Funds. Allocate your money in these.

Start SIP in NPS, as you are 26, you will get fantastic amount by the time you retire.

Invest in debt funds, SGBs whenever you get some bonus, hikes, allowances.

Invest 25-30% of your salary. For remaining amount you enjoy your life.

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Have at least 5 lac in your account for any emergency and post that start SIP and other investments.

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Ping me will let you know the plan and then you decide whether it works for you

Will need more details to answer that but based on what we have, I'll assume you can save ~60k post tax and expenses. First thing will be to get term insurance for yourself and ensure that your family has sufficient medical insurance. Once that is done, keep saving 20k every month in liquid fund for emergencies and start market linked investments. (Mutual funds or direct equity) with the balance amount. Be sure to get a financial advisor on the way. Time is irreversible. You'll know your mistakes in investing when it's too late.

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