Welcome to My Finances!
This is my eight-month update since I started this page.
The purpose of sharing these numbers is to show how a small sum of consistent investment can do over a period of time.
I got inspired by the blogger a purple life who shares spending & numbers on her blog.
In the month of July, all my time & energy went into fixing things, buying things for the recent house we moved in. Once our things were delivered by a packers & movers company, I was living in the midst of carton boxes for nearly 3 weeks.
One thing we learned as a family during the move is the fewer things we have, the more peaceful life can be.
So we decided to give away & declutter most of our clothes, shoes, and bags. Still, I feel more things can be given away.
But I can confidently say, we have fewer clothes, furniture, and vessels compared to what we had when we used to live in New Delhi.
The reason for my moving to Bangalore is purely personal, so I need to take care of the expenses. Due to moving, my debt level almost doubled (Wait, I didn’t swipe my credit card, that’s on my death)
In the month of August, I am going to keep blogging regularly. I feel like I’m dusting off my writing skills:)
Click here: How I paid off my credit card debt in 6 months?
Both July & August, I made an investment of 16000 rupees. Majority on mutual funds & Index funds. I feel my savings rate will go beyond 35% in coming months as we have settled down now. So I expect my expenses to come down.
Investments
My Mutual fund holdings are primarily index funds, tax-saving funds, and little exposure to US market index funds. No more active funds, as I switched all of the mutual fund’s units to passive funds (except for tax saving fund).
I contributed 8000 rupees in tax saving account. Remaining 8K went into index funds.
Positively, My individual stocks are hovering at 13% to 16% return from negative returns. I am excited about it!
Note: All numbers are in INR.
Debt
Credit card debt.
Its NIL. You can check how I cleared my credit card debt in six months on my finances page.
Gold Loan:
I Topped-up my gold loan for remaining value. This amount was used to support my shifting. Now my gold loan stands at 1,72,500 INR. Will start to pay 3000 or 4000 rupees from September onwards.
My Pace of paying this debt would be tortoise rather than hare. So you can expect this debt will remain for more than a year or two.
As long as I pay the interest every year, I can renew the loan tenure. Not much hassle from the bank like credit cards.
Cash:
This loan has been paid off in July month! So Nil.
Thank You for reading!
