Welcome to My Finances!
This is my tenth-month update since I started this page. Why I titled as October savings challenge?
Each and every month savings becomes bit hard when you are living with your family.
The purpose of sharing these numbers is to show how a small sum of consistent investment can compound 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 October, a few unexpected expenses like Motorcycle repair came. It swallowed up some money.
It is so annoying when your savings don’t go as per your plan.
Click here: How I paid off my credit card debt in 6 months?
But still, I managed to save about 26600 INR in the month of October. My savings rate for October stood somewhere between 27 to 28 %. I hope from December month the savings rate will continue to increase further.
October savings Challenge – Investments
Mutual Funds – 236600- Present Value – 267000
Individual stocks – 202000 – Present value – 238000
My Mutual fund holdings are primarily index funds, tax-saving index 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 (even the tax saving fund).
I contributed 10000 rupees in tax saving account. Remaining 16K 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
I paid of some debt. Now my gold loan is at 164614.
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 paid some portion of my gold loan. It reduced from 170K to 164K INR.
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 is Nil.
Thank You for reading!
