Purchase advice

[marcofthetruth]

Have recently started my first job with 9.5 l.p.a and planning to get a bike worth 3.5 lacs after monsoons next year. Ideally how much liquid / emergency fund should i have with me before buying and how can i save for the down payment of the bike ?? (1 lac dp - 9k emi)
Monthly expenses expected around 30k including everything.

Or

Buying something that expensive is out of budget considering i have no savings ??

Please advise

 

[bretsky1]

@marcofthetruth Don't worry about calculation at this point. Just save good chunk during monsoons. You should be in a comfortable position to put down the dp after few months. I would say reduce the loan amount further.

 

[kudot]

@marcofthetruth My advice is save for bike in full and then buy

 

[berserk]

@marcofthetruth General financial rule : buy something only if you are comforatble buying 2 of it. But well, to each his own. Priorities differ

 

[marcofthetruth]

@berserk Okk..that is also one good way of looking at it