POSTED BY December 14, 2013 3:24 pm COMMENTS (3)
ONHello all,
I have been following this blog for a year now. It has helped taking some wise decisions in my financial life.
These are the steps I have taken till now:- 1) I got rid of my LIC endowment policies, 2) took adequate Health insurance, 3) built an emergency fund, 4) opened PPF a/c
Now, I have 2 Goals, 1)bear half of my Marriage Expenses (in 1 or 2 years), 2) A small apartment of my own (after 7-8 years). My monthly earning is about Rs. 20,000/-. I am left with Rs 6000/- after all expenditures & savings. I don’t have any dependents now.
My questions are 1) How do I plan for those 2 above mentioned Goals? 2) Sudden expenses like electrical equipment purchase or repair or home repair can be considered as Emergency? If not How to plan for those too?
Thanks,
Chakraborty
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Dear Chakraborty, 2.5L Rs. in next 2Y means, roughly 8-9000 Rs. mly investment. When your total available surplus is 6K Rs. only, invest all into a plain RD. Fo not think of house purchase till marriage. Once marriage is over or corpus is created, divert amount towards house.
Thanks
Ashal
Dear Ashalanshu,
It costs nearly Rs. 5Lacs for a simple marriage ceremony. I want to bear the half of the cost. That is Rs.2.5Lacs. Is it possible? BTW I am a female.
Thanks
Dear Chakraborty, what is the amount for marriage goal, you are targetting for?
Thanks
Ashal