Insights from tracking every single rupee for one month.
Overview: I (25M) recently landed a Central Govt job at a Level 10 Pay Scale. I was raised in a typical middle-class environment, and somehow the grind brought me here. My in-hand pay is around ₹1.01L per month. The extra ₹8,000 you see in my total income (on the top left) comes from lenders (mostly friends) paying me back.
This is the first time in my life I am getting a six-figure salary, so the mindset of being anxious over every rupee spent was natural. Even after getting the job, I would panic every time I bought a movie ticket or went to McDonald's. I am slowly learning to not let money control me and instead use it reasonably.
I track this using Money Manager by RealByte (highly recommend, no need for premium, only one ad a day). Here is the breakdown:
- Home Expenses: Rent is ₹14,000, and electricity is around ₹1,000 per month. The rest goes to groceries. I recently started the gym, so my order includes mostly meat/fish followed by dairy and other household items. My daily breakfast is a standard oatmeal (oats, milk, seeds, nuts, fruit, and whey protein from a jar I bought months ago).
- The Other Home Expenses: This goes back to my hometown. It includes ₹12k-₹15k for my father's business needs, plus Wi-Fi, phone recharges, and basic shopping for them. I have an elder sibling who contributes equitably from his end.
- Food: I thought I was spending too much here, and I wasn't entirely wrong. I make my own breakfast. Lunch is at a fulfilling dhaba outside the office (₹150-₹200/meal, capping at ~₹4,400 for 22 days). Dinner is a tiffin service at ₹100/day (~₹2,500 for 25 days). For the remaining 5-6 nights, I Swiggy or eat out at someplace nice, and I cook my own weekend lunches (included in Home Expenses).
- Lending: Never thought this would be 1/8th of my salary! I lend small sums to friends still in the struggling phase of their careers. They are highly responsible and pay me back as soon as they can.
- Transport: Autos and Rapido cost me around ₹90-₹100 per day (both to and fro). Occasional cab rides take ~₹200 per ride in cases of emergencies. The rest goes toward 3A/2A train tickets to visit my parents and relatives fortnightly who don't live too far.
- Health & Fitness: ₹1,500 for the gym membership, with the remainder going toward medicines and non-medical health expenditures. As this month I spent around 1400 towards some blood tests.
- Fashion: ₹150 Haircut, random home accessories/utilities, and recently getting into skincare.
- Leisure (₹100.00): Bought a damn tempered glass screen protector for my phone.
I invest around 25,000 per month in Mutual Funds and Index Funds. I am still learning the ropes of investment.
Any inputs and advice are welcome. Mostly looking for advice on how to reduce guilt when spending on oneself!