Expenses of a small family

[gdsmith]

@planter Just install magicpin and take pro membership you will save a lot on food delivery

 

[limetree5]

@gdsmith bhai ye magicpin ondc milke zomato ki kamar todenge kisi din

 

[astroblema]

@planter Ours is a similar family like yours. We have one child and one senior parent. And we live in Tier-1 metro city.

Swiggy, zomato, and outside eating are too high in your case.

We do go out but street food like shops (example: ek plate pani puri + some chat = only 100 or max 150 for 2 people) This we do once a week or once in two weeks does not pinch on pocket while doing our sabzi shopping. This may not even cross 1k p.m.

Dinning out is only for occasions, birthdays, or anniversary, max 2wice or only thrice a year. That too it is in the order or Rs. 1500 to Rs. 2000. So, max 5 to 7k per annum.

You surely need to change your lifestyle considering your take home is 1.1L p.m.

Apart from this, our DMart bill, on average, is about 10 to 15k between two months.

Sabzi roughly is Rs. 500 to 700 per week.

Ok, I missed one other thing. I have a dog, and for him, weekly, we need roughly Rs. 600 to Rs. 700 eggs.

 

[planter]

@astroblema Yeah it's when we weren't able to save we had to look into all the details. We were putting about 30k into savings account thinking we had that, but school fees or travel expenses or health insurance would come and empty it.

I think we need to strictly put a lot more money into savings account and plan for expenses like school fees which come every quarter. Travel expense need to be put aside as well. Apart from these, we need to put money in either FD or invest in mutual fund that we won't touch. Then we can spend the extra eating out etc.

Our eating out are at 4-5 star hotels and expensive treats. This needs to be drastically cut down.

Thanks for the details, it gives us an idea on what and how others are managing.

 

[astroblema]

@planter To this, I would like to add.

It is great a start that you are now at least looking at it.

Now, once you know how much you will need monthly, come up with a figure that you can set aside.

Here, what I do is as soon as I get my paycheck, on the very sameday, the

1st. thing I do is I make my investments (some of - Index Funds/TBills/LiquidFunds/Direct Equity). Then,

2nd. I clear all bills electricity/gas/cc.

3rd. Pay salaries to maids.

4th. Now, whatever is left from that, I run the household.

By the end of the month, I am always broke, but that is because I am always invested. And since I am broke, I am not left with anything for excess splurging.

Hope this helps!

 

[planter]

@astroblema This Sunday we will have to do something similar. Out the expenses as priority. Things like education and electricity are essential. Netflix isn't. We need to budget things and have some fixed savings.

 

[eschatologist]

@planter What? You have a cook and still spend 13k a month on food delivery + eating out? I would start there.