Hi All,
I am a total noob when it comes to investments. Treat me as level 0. If I need to go through any articles to understand some things please guide me to it.
So I am 23 years old who has worked for 2 years now without thinking about saving. Now I realized that I am never too late to begin and I am lost on where to start. I know there is this traditional way to save where I leave a certain amount in the bank and it grows. But I am more prone to spending that money. I am going to give a little detail about myself so that you guys can help me out. Please let me know if I have missed out on something and I will give that info.
Age: 23yrs.
Annual Takehome: 420000
Taxable Income: 260000 ( approx value )
City: Non Metro.
Investment so far: Nothing.
Risk Assestment: Medium risk taker.
Long term goal: Buying a house.
Short term goal: Buy a budget hatchback.
Monthly Expenditure:
4500+500 rent + electricity , water etc.
5100 for personal loan.
2000 for education loan.
2500-3000 for credit card bill ( approx and varies )
Travel: 2000
Food : 3000 (approx).
I would be able to allocate about 5000 each month for investments. The rest I would be sending it to my parents. So anyone can help me with starting my investments would be great.
I am a total noob when it comes to investments. Treat me as level 0. If I need to go through any articles to understand some things please guide me to it.
So I am 23 years old who has worked for 2 years now without thinking about saving. Now I realized that I am never too late to begin and I am lost on where to start. I know there is this traditional way to save where I leave a certain amount in the bank and it grows. But I am more prone to spending that money. I am going to give a little detail about myself so that you guys can help me out. Please let me know if I have missed out on something and I will give that info.
Age: 23yrs.
Annual Takehome: 420000
Taxable Income: 260000 ( approx value )
City: Non Metro.
Investment so far: Nothing.
Risk Assestment: Medium risk taker.
Long term goal: Buying a house.
Short term goal: Buy a budget hatchback.
Monthly Expenditure:
4500+500 rent + electricity , water etc.
5100 for personal loan.
2000 for education loan.
2500-3000 for credit card bill ( approx and varies )
Travel: 2000
Food : 3000 (approx).
I would be able to allocate about 5000 each month for investments. The rest I would be sending it to my parents. So anyone can help me with starting my investments would be great.
