Just started my first job earning ₹60,000/month. How do I balance investing for the future without living like a monk?

It is entirely natural not to think about retirement when you are just starting your career.

Ignoring your financial future can lead to stress, but obsessing over it can make your youth feel boring and restrictive.

Here is how I look at it: you need the concept of Fun Money in your life.

The idea is simple: dedicate a specific portion of your income entirely to guilt-free enjoyment. To make this work, I suggest adopting a modified 50-30-20 budgeting framework.

Allocate 50% for day-to-day expenses, like rent, groceries, and utilities.

Then, set aside 30% for your Fun Money, which is your guilt-free allowance for trips, dining out, and entertainment. The remaining 20% is for your investments and savings to secure your future.

The secret to making this framework succeed is automation. Set up a SIP that deducts your 20% investment allocation within the first week of receiving your salary. By doing this, you remove the temptation to spend it and whatever is left in your account is yours to manage for daily needs for guilt-free fun.

Disclaimer: All information shared above are strictly for educational and informational purposes only. It should not be construed as financial or investment advice.