Financial management advice for 20's adults.
Q: I am 27 year old staying with parent and I don't have any direct belonging on me. Monthly salary 25 thousand how should I plan Expense and investment and what will be suitable investment product for me? Ans: Since you are 27 years old, staying with your parents, and do not have any direct belongings on you, you have a unique opportunity to save and invest a significant portion of your monthly salary. Here's how you can plan your expenses and investments: 1. Budgeting : - Create a comprehensive budget that covers all your essential expenses, such as personal expenses, transportation, communication, and any contributions to household expenses your parents may expect. - Since you don't have to worry about rent or major living expenses, you should be able to allocate a higher percentage of your salary towards savings and investments. 2. Emergency Fund : - Begin by building an emergency fund that covers at least 3 to 6 months' worth of your per...