Sir, My monthly salary is.Rs.16000 per month and I give to home 7000.Remaining 3000 certain expenses like conveyance petrol,misc exp..etc I want to save my remaining 5000 or 6000 in what way ?...plz guide.
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Quick Summary
This discussion focuses on how to save between £5,000 and £6,000 from a monthly salary of £16,000 after essential expenses. Suggestions include exploring investment avenues like PPF, LIC, and Post Office savings schemes, with advice to research options suitable for individual needs. It's also recommended to maintain an emergency fund equivalent to six months' salary before committing to long-term investments like PPF or mutual funds, noting that saving habits may need adjustment post-pandemic.
Sir...its necessary to have some emergency fund... it's like 6 months salary to be in saving account. if u have that...then go for PPF AND MUTUAL FUNDS...