Kharcha, Savings aur EMIs!

Hello there! We've talked about taxes, investing, and different ways to make your money grow. Now, let's chat about something super important: managing your expenses and the basics you need in life.

Guess what? Basics like your home and food come after investing. If you're making enough to pay taxes, you're good for the basics. But here's the catch – our spending tends to match our earnings. The more we make, the more we tend to spend, even on things we think are must-haves.

Basics aren't just rent and food. They also include things like your electricity bill, phone bill, internet, water, groceries, and even medicine costs. All these should ideally add up to about half or less of what you make every month.

Now, whatever's left after taking care of the basics is for having fun or doing stuff you love. But a tip: try not to buy things on monthly payments (EMIs), especially gadgets. If you really need a car for work, EMI might make sense. But for other big things like gadgets or vacations, it's better to save up and pay cash.

For saving money for big stuff, check out options like liquid funds or fixed deposits. And when you use a credit card, be careful. Some cards give cool rewards, but they can also trick you into spending too much. If you're worried about spending too much, it's okay not to use a credit card.

If you're new to this money stuff, learn about investing, good money habits, things like insurance, and more. And hey, focus on your job or career to make even more money for your personal finance journey.

Stay tuned for a fun quiz coming up next!