How to prevent money leakages

newuser_RK

Well-Known Member
#1
Hi all,

This topic is completely unrelated to trading. So there is this thing, I earn a lot but some there is always some leakage in my bank balance which doesn't allow my money to accumulate. There is always some unforseen expense or the other. For example last month I suddenly realized that my employer hasn't deducted enough TDS and I ended up paying unplanned taxes and interest to the department. Sometimes there is an impulse buying by my wife, sometimes my DTH goes bad, if not anything then someone falls ill in the family. All in all there is always some kind of unforeseen expense in my life. Although I am still managing to save 20% but I won't accumulate enough at this rate Rate. Not sure if there is a solution to this. Any suggestion would be appreciated

https://g.co/kgs/aJJ5nH

Sent from my AO5510 using Tapatalk
 
Last edited:

comm4300

Well-Known Member
#2
Hi all,

This topic is completely unrelated to trading. So there is this thing, I earn a lot but some there is always some leakage in my bank balance which doesn't allow my money to accumulate. There is always some unforseen expense or the other. For example last month I suddenly realized that my employer hasn't deducted enough TDS and I ended up paying unplanned taxes and interest to the department. Sometimes there is an impulse buying by my wife, sometimes my DTH goes bad, if not anything then someone falls ill in the family. All in all there is always some kind of unforeseen expense in my life. Although I am still managing to save 20% but I won't accumulate enough at this rate Rate. Not sure if there is a solution to this. Any suggestion would be appreciated

https://g.co/kgs/aJJ5nH

Sent from my AO5510 using Tapatalk
have your savings auto-debited first. Whatever is left, you can indulge.
VPF
MF SIP etc
RD autodebit for unplanned taxes
 
#3
For sure you need to learn how to save money actually it's a skill which you really need to develope anyway to make it all good for yourself for reall. Are you with me here or not ? Money management skill is for sure very important thing no matter what.
 
#4
Don't spend more than you actually have in order not to get lost in all that credit things and all so on for many many reasons out there. How many things you really need to be done to put there on so many levels. I can't even replicate the whole scheme.
 

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