Living on 70 LAKHS+ with Minimum EXPENSES but ZERO SAVINGS | Fix Your Finance Episode 45
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- Опубликовано: 8 сен 2024
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Hello guys, welcome to another episode of Fix your Finance. In today's episode, we meet 29 year old Ansuraj who works as a Technical Lead in a leading bank in India. We talk about his income, expenses, investments, his philanthropic causes and how proper due diligence is very important before starting a new business or buying a franchise.
and much more!
Enjoy :)
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Disclaimer: Neither the guest nor I am a SEBI registered investment advisor. Information shared is only for educational purposes and not investment advice.
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Earning 3L+ and having the thought process to keep aside money for philanthropy and talks about mental health awareness is sheer humbleness.
Awesome 👍🎉 hats off 👏
His earning and financial management is extremely good
He bought a flat at the age of 29,bought a plot in his village,bought a car for his parents,bore expenses of his sister's marriage,buys gold,invests in FD,and is still able to put aside 10 percent of his Income
Kudos man
Most of the other would just choose to save a fixed amount and then live on paycheck to paycheck
Totally impressed 🎉
He passed engineering in 2012 assuming he is atleast 20 years it's not 29 in 2023
He said he has 12 year experience not sure which engineering college student passoit at age of 17😊
@@poojapatil2461see at 0:40
This entire channel seems fraud to me. One guy claimed to make 2 lakh plus at a startup at 21. 😂 Hi college was also shit not in any tier like they probably don't even take donation.
@@suniltripathy1399 oh yeah... Didn't notice that..
Opening a pizza shop was not his bad decision, disaster like corona was unexpected.
True
Taking franchise was still bad decision, without recipe chef and other stuff what was 3Lak for
There really is no way he could have predicted that@@dilsebloggingbyshef2384
But he mentioned that after he started his pizza place, corona came just after 15-20 days. He could've decided to wait off the corona time or just put off the idea.
It is very easy to comment on people's mistakes and we forget how many blunders we have made in our lives. I like his spirit and before commenting, we should ask ourselves whether I have ever talked to even one francishee to initiate a business. He had gone way beyond and covid hit him.
He is a risk taker with so much positivity and so much to offer to the world.
Blessings to you bro. You are champion 🎉
The amount he has saved from his income is a huge deal coz most of the time people change their lifestyle in double the pace of their income
the 10% philanthropy idea was really good, i also wanted to be helpful to the community for as long as i remember, i think it's time I also start planning and doing something every Sundays for the poor and helpless
Kudos and let me know how this goes!
Best part of this video : Surround yourself with people who would motivate you and push you , and not around "Humne bola tha na tumne nai suna " that hits you hard.
He is a very kind hearted person. I wish him all success.
we should Learn how man can be this simple after earning such a decent salary, and good thing is help people to set their careers is truly inspiring. ❤
100%
Odia people are very simple people ❤
@@anshumanfinanceIs stable app legit? I hope it's not like VAULT. How do we verify it's authenticity before investing on it???
@@tanmaymishra8919why bring region into everything
@@santaaurbanta304bro said it is recommended by RBI😅
I should also go to this:
I started salary at २०k per month, currently I am earning around १.२lakh per month +other perks. I have been working for nine years.
During these days:
1. Built my house
2.Bought scooty
3.Bought a car for my parents
4.Did sister marriage
5.Did my marriage
6.My wife died and had to spend most of my savings for medical and other expenses.
7.Helping: my cousin' education 80k
8.Nana's medical expenses:50k
9.Helping my in-laws for financial and medical support - more than 2.5lakh.
10.Helping my friends for their education and business more than 1lakh
Current savings: 18lakh Indian equity market
10 lakh foreign equity market
PPF, EPF, NPS, and other savings.
Having emergency fund of 2lakh.
Bought gold.
Your age?
@@drpriyeshmaharana 33
How you have done this? This is impressive
@@rashmishinde2418 maybe responsibilities, better money management.
When my salary was around 19-20thousands then every month I had to send around 10k to my parents to clear all our debt.
Then slowly built our house, with my salary+bonuses. It took a few years to completely build our house. We didn't take any loan for it.
Then we saved some money and bought a scooty in cash. Again we didn't take any loan.
Then started to buy gold jewellery for marriage in advance to avoid sudden high expenses.
I never took any loan and always paid off all credit card bills in advance to avoid any penalty.
For the last 4-5 years I have not used any credit card, every transaction is either cash or UPI.
When I had enough surplus then started to invest in the stock market and continuously increasing my investment amount in it.
Bought a second hand car all in cash. I didn't take any loan here, I borrowed some money from my friends and returned it in subsequent months.
I have travelled to most of the places in India, like Goa (2 times), Haridwar, Rishikesh, Agra, Jaipur, Jodhpur, Manali, Kasol, Shimla, Dalhousie, Chennai, Hyderabad, Tirupati Balaji, Coorg, Chikmagalur etc. I have lived and enjoyed parties in Bangalore, Delhi, Gurgaon.
Overall I enjoyed my life as well.
I don't know how I managed all of these, I don't buy expensive gadgets like iPhones, instead I buy 15-20k good Android phones and use them for 2 years. Though some years back managed to buy a laptop and DSLR camera with No-cost EMI.
Bhai 1 lakh ki salary me ghar kaise le liya... aap tier2 city me rehte ho kya
I like this humble guest. His real estate investment is in Behrampur city which is on the east coast of India in Odisha. Behrampur is ~270 kms from Vizag which will be the capital of Andhra Pradesh. If Vizag develops, then property in Behrampur can be expected to increase in price. He said there's a resort is coming up. He needs to explore the economic possibility of tourism too. If tourism picks up, then prices go up.
Berhampur is at middle of Bhubaneswar and Vizag. Real estate market in bam is already in boom. Plus add to Gopalpur Port and Tata SEZ
People commenting that he is not great in finance. He bought car, land for 41 lakh, probably paid 10 lakh in flat as down payment, invested 6 lakh in pizza shop so he already had great savings to be able to do it. Once a person gets into mutual funds or stocks generally they stick to them rather than exploring options like land where returns can be multifold too plus the proud feeling of owning land.
I really think he should do something for himself and not just others,guy earns a lot but he should get some comfort as well,get his favorite gadget,go for a long luxury trip once a while,hire house help,maybe get a car,eat at a good restaurant,etc
He is only spending on family and friends and charity while thinking about building his 8-9 houses and selling them
Coz you are earning for your own self and enjoyment,life will be over and you can't do jackshit with piles of money in bank when you start getting older
Just a small suggestion
You still can't do jack shit with loads of money in your bank account if time doesn't allow you to do so. There is no end to wishes and nothing can make you happy as long as you don't have a purpose in life.
Exactly most middle class people do this, even after earning good they worry about the future and think they'll enjoy at some point of time in future
This is a sold dream of capitalism, where you are bound to think that big car, and eating in restaurants gives pleasure. Comm'on man this person seems happy with doing philanthropy. The best of the rich aspire to do that. Eating normal quality self-made home-cooked food and sleeping in a normal bed is more than enough for a person to be happy. rest is taking care of family and friends and giving back to society. A word written "ballman" on his t-shirt is not a real pleasure. it's just sold bogus dream.
He won my heart when he specifically mentioned about reserving 10 perc money for philanthropic causes .. may almighty lord grant him best of all one can ever have ...wishing him prosperity and abundance ahead 🎉🎉🎉
It takes alot of valour to contribute hard earned money for assisting others who are in need 🎉🎉 ..
Hats off for talking about mental health. We need to normalise conversations around mental health!
I don't understand what your mean here...
Anshuman i would challenge you to fix the finace of a farmer.
Yes , really 😊
100%...even the government will not dare to fix farmers financ
Farmers earn more but declare less.. and they cry loss and arm twist government to give freebies.
@@nighthawk4028 wow , what is your source of knowledge. By the way I never saw or heard other professionals and businessmen suicide cause of financial reasons .
Challenge accepted 👊
How he is telling commulative insome of 3lakh+ but saving for his marriage also
4:44 = Highest FD Interest = 9.1% by Utkarsh Bank. LOL. Utkarsh mein 9.1% ke laalach mein paisa daaloge to nikalne mein sangharsh karne parenge. If you want to park money, put in reputed bank, which will give max 7.4%. Like Axis, HDFC.
Amazing guy with an amazing financial planning and a risk taking mindset and appetite. Why he needed to be in episode not sure. Anshuman just tell the basic financial guidance, like SIPS (index or next ) and his sponsors options. Please don’t follow these RUclips guidance but please instead read and educate yourself.
Amazing guy with amazing planning. UPs and downs are part of planning but he will surely make it big.
He is calculating 70 lakh to build the apartments in today's price. After 7 years when he will go to build the apartments, cost will be 1.10 crore as per 6% annual inflation
Absolutely none of these two thought about this
I calculated this same abhi 70 lakh baad mai inflation add Kar do.
Well to be Frank, Berhampur is NOT a small town!Its a tier 3 city and 4th largest city of Odisha. It's a coastal city nearing Gopalpur Port/Beach! And the growth in real estate in Berhampur has been huge in recent past (holds true for Odisha itself). Lands in Berhampur are most costlier than Bhubaneswar, Rkl, Vizag.
First of all appreciate him for managing monthly expenses with 10% of income by choosing to live basic instead of overspending on things just because he can.
He is not yet married, so how come he is clubbing in his partner's income already both in savings as well as monthly income.
That's what I was thinking. He's clubbing partners income. And he's yet to marry 😂
Total bullshit,
what a nice guy! hope he gets whatever he wants in life!
Such a down to earth person and on top of it, philanthropic without second thoughts. Hats off to this inspirational interview.
Awesome video. Anshuman knowledge and the person whom he was interviewing , his humbleness was great.
He is actually doing the investment intelligently. Savings are ruined by inflation due to printing of money
Kuch bhi, kuch bhi
kya kuch bhi ? galat kya bola usne ? @@chetanshukla768
This guy is great man. 👍
1 thing this tells us is that why Bangalore has such un imaginable flat rates. 70 L.
Hi, If his and his partner's cumulative income is 70 Lakhs, and the monthly income is 328000, it means that yearly income is 40 L and deduction is 30 L, which is 75% of the total income. Maybe he didnt disclose the income properly
They get annual bonus too. That is over and above monthly salary
Yes I understand, and maybe stock bonus too. But he should disclose completely otherwise such analysis teaches nothing
Believe it or not, Philanthropy gives you very very high returns than any other, all the best.
True!
Spot on.. absolutely. It's the best investment
Anusuraj I'm proud you try
I know how people treat you if you fail.
Keep going man
Care from Bhubaneswar ❤
I don't understand why people in the comments section start judging/trolling. Don't these people generally call Anshuman for help as they're not quite literate financially?
11:43 This is where most people goes wrong. That 70 lakhs is required TODAY. After 7 years it will increase significantly (rise in cost of building materials, labour, transport etc.)
It will take around 1 Crore or more after 7 years. Please plan according to that amount.
He has good sense of real estate like in tier 2-3 cities. Buying plots at distinctive places gives immense returns
Simplicity at its Best. You are inspiration.
most of the people change their lifestyle drastically as they gets increment.
it is not necessary to spend more but to save more and increase the spending on lifestyle in small steps.
His philantrophy effort is very good. God bless this man.
This was a really nice video Angshuman. The was Ansuraj talks about philanthropy and his concerns for mental health are very impressive. Thanks for this ❤.
People should be careful even in investing in Bank FDs. FD is insured only upto 5 Lakhs by RBI. For higher interest rate if we put FD in any XYZ bank and if if bankrupts, you can loose money or at least they can delay the payment which defeats the main purpose of liquidity.
Even if it's ICICI & HDFC?
Invest in domestically important banks like SBI,HDFC or ICICI or any government owned bank. People invest in some worthless banks for the greed of that 1% extra on FD and end up getting heart attack once their capital erodes in such bank.
Yeah but big banks don't give a lucrative interest rate. You'll end up losing all the value of your money to inflation
FD is not for wealth creation or for long term investment. FDs are meant only for wealth protection (ex. emergency fund) or for short term goals. In these situations the rate of return takes a back seat and protection of capital becomes more important, hence in my opinion open FDs only sbi, icici and hdfc. Opening FDs anywhere else defeats its purpose.
@@curiousindorivery true .. 👍👍
If u are earning more than 15 lakhs per annual.. ur already paying 30% of ur tax.. which in return ur not getting anything from govt… so its actually philanthropy… no need to pay extra
I agree bro...
I have seen most of the odia persons are very humble and at a better financial state and their first priority is family🎉🎉🎉
The logic he gave for the soft vs hard assets part tho🤐
Anshuraj you dont need this guy you are on right track bro. You understand Money At the core which was a basic knowledge but now in the time of sips and other lucurative schemes people have lost common sense. Bro you had your responsibilities and you paid up for it. Just give yourself some years you will see the pile up. Current Stock market valuation and Funds NAV are too good to be true . Keep on Doing what you are doing 👍
Ansuraj Is Awesome Human Being, Thank You Very Much Anshuman For Making This Video
He cannot be 29 years old. He passed out in 2012. I am 29 and I passed out in 17.
Then he is 35 or something
@chayankoley4612 not possible. Ye sale influencers humara chutiya kaat rhe hai. BC iska package bhi 70 nhi tha.
the guy, though is clearly very hard working, but is adamant. He has strongly held views and very resistent to change. He will do good in life and be good financially as well, I am quite confident on that. But, he will learn his lessons late and take necessary actions much later which means his potential growth is much higher than his actual growth.
Following anshuman for so long and still not investing even 10% of salary into equity, even at a saving rate of >80% means that learning is slow. Yes, he has his own situations for which he has worked and worked them out well (Kudos for this). Yet, the future outlook of the person is very strict on "hard-assets".
10% goes to philanthropy. Family, Relatives and Friends :P
🙂
If you are a part of my circle by any means then you are my friend. If the disposable income could earn me indisposable connections who can help the unfortunate, then I am investing from my philanthropic bucket🙃
Real estate is REAL! With good knowledge of RE market, people can beat Equity with rentals only.
Absolutely, my boss had invested around Bangalore City before the IT revolution, now his assets are worth 1500+crores. His investment was ar
Yes that's why I invested in commercial REIT S
Also I would suggest when he is starting to invest 57k, should also start with a term insurance.
Such an innocent guy! He will always be happy because of his good soul...❤
If you have guts make videos of new practical businesses which middle class wants badly.
Also Interview some marwaris, Gujaratis so people can learn how they do business.❤
@anshumanfinance came across your channel today! And I’m on a video watching spree! Each video is so so so informative!
I can’t thank you enough. God bless you with best of health and success…
Keep posting such videos. ❤
Ansuraj is a good Samaritan. Keep up your good work bro🎉
aye berhampur bhai love you bhai may you progress like this for ever
Pizza business fiasco didn't knock any sense into him it seems. Again he is betting huge money in the apartment business which from start itself sounds doubtful as he said it will be without RERA. Inspite of earning so much and working in banking sector(tech lead in a bank) his financial know-how seems really poor.
Yup, how come peeps like him are tech lead and earning that much is a thing to wonder about.
@@ashutosht10 not at all. He isn’t tech lead in service based firms. Its a bank and am guessing its a Multinational bank. 10 YOE earning 30-35LPA in product based firms(including banks) is very common in Bangalore
I really like this guy earning amazing still seems grounded, has less information related to stuff.
He needs little more financial literacy and he gonna shine well
I love how different people have a different mindset towards money and investments
Where is such land jaha NH ke paas 41.5 lakh ke area me 3+ ghar ban jaa rahe hain !!!! I'm from a Tier4 city and yaha bhi itne amount me 200 gaz (sq yard) se zyada zameen nahi milti
Some village maybe
Good video. Simple guy, story of every middle class person.
He is so humble and dooing good for others.. Happy to see it
16:13 very very true well said dil chu liya
Anshuman Sharma Ji
Your videos are very practical and all participants are giving honest feedback. It will help all others who watches your videos 👍
4:41 Before people get so excited looking at 9.1% interest rate for an FD 😂 let me tell you it is only for senior citizens. For the majority of us (
@@AishwaryaJ-qv6ck you could have opted for 15 months tenure to get slightly higher interest rate of 7.1%
bhai apana Berhampur city ru(Silk City of Odisha), its not a town bhai, Jay Jaganath
Exactly!
This guy has some traditional investment bias, and while I am not sure about the exact scene of his hometown, most people buying land hoping for highways, get f**ked. Before making any highways, politicians and their chamchas anyway buy all the land around the area, to benefit from once the area develops. If they can't buy some land, they will find an excuse to move the highway away from that area, to an area where they own some land. They have no reason to sell that land to common people before the highway is built. If you are able to buy land in such an area, without being the "first level chamcha" of some politician, know that some politicians are offloading their investments on you, and other people. The moment they are done selling all their inventory, they will use that money to buy even more land in some other more backward area, for much cheaper, and that's where the highway will be made. And you will be stuck with a plot in the middle of nowhere, and will have to wait for a decade till the development of the highway reaches your area. And think about it, how many times have you actually gone 2-3 km perpendicular to a highway, unless you live there or a relative lives there. Those areas are always in the middle of nowhere.
But respect for keeping money aside for charity. I myself try to do that, but get demotivated looking at all the scammers who try to get a share of your charity, every chance they get.
Vaise mujhe bhi bande ne bola nahi hai, aur main apna referral code bhi nahi daal raha hun. But Stable money is pretty good app for sure. I always wanted to open some FDs in high-interest small finance banks. But going through their low-tech branches, and opening an account for every 4 lacs worth of investment. But with Stable money, this job gets easier.
Max 4 lacs per bank, because total insured money per bank is 5 lacs, which one shouldn't cross in SF banks, so 4 invested + around 1 lakh interest, should be safe)
Stable money vaalo, padh rahe ho, to kuchh paise bhijva dena. Aur Sarvoday bank ko jaldi se apne portfolio me add karo. Keval Fincare aur Utkarsh hi kaam ke habin abhi ke portfolio me.
Earning high salary is different and building wealth/financial independence is different things
Humble guy . Very simple.
2min silence for those who believed that he is telling the truth.😂
15k in mutual fund bcz he doesn't trust it and he is working for a bank.
4k in grocery 😅
Bhai ko mental health pe bharosa hai so no emergency fund. Kya fekta hai😂
Mera ex colleague ne appreciate Kiya food ko, so bought the franchise.
He juz wanted to come on RUclips 😮
Says age is 29 when his experience is 10+ years. Says home loan interest at fixed 5%, current rates are at 9+, least it went was 6.5% in covid times.
Salary is wrong as 3lacs doesn't add up to 70 lpa even after tax. He is unmarried still adding partners income. Age is 29 with 10 yoe not possible until he graduated at age 18. So many unrealistic things he said.
Please stop judging people, I know him by person. His age is 32, since he is working in bank he got 5% home loan.
@@saisantoshpanda8744 he is not working in SBI bank.
Your all latest videos are on high income people. i would suggest to make video on who is middle class and earning less.. please
What i like the most is his clear vision/goals
Insaan Bura bhi bas isme finance bigde hue hain Philonthropy bhi krni chahiye until unless you make it big including your 10yrs of retirement fund
Only earning too much is not a solution investing right and in right assets is very much important. M
Anshuman was probably able to utilize his knowledge here more than anywhere else. This guy is very smart.
I personally believe philanthropy is something which is really not meant for the working class people. We already pay close to 50% of our income in direct+indirect taxes. It is this tax money which is supposed to help dissipate income disparity. Contributing additional 10% on top of it, in my opinion, is not necessary.
Love from Odisha, Berhampur bro!
This guy has a unique thought process❤
He is unmarried, then who's his partner ?
Gf?
Lol scam
He is engaged, will be married soon
70 lakh but in-hand 3.2 lakh per month how come?
I hope stable money actually on boards lots of banks quickly instead pf giving sponsorships. Can't actually buy fd aprt from a handful of banks
The irony is that people with lacs of salary are interviewed. I wish someone could suggest people with family responsibilities and less salary .😊
They are not ready to share..
My salary 18000 and I am recently join a job. 5 months completed my portfolio 32000 and my monthly expenses
Food : 3500
Travel : 1500
Recharge/ And Other : 3000
Rent : 4000
My Study: 3000
I love all of your videos cause the way you teach about finance all the country.
The knowledge you get on this channel is not even paid content can match.. earning money is one thing but spending and investing is another thing..if you excel in both then you are successful
@anshuman sharma ..You missed speaking about term life insurance and health insurance in his case..
Annual package 65-70 lakhs, monthly income of just about 3 lakhs doesn't adds up.
On CTC there is tax of 40% and all amount is not fixed there is bonus etc as well.
@@ShivamGupta-wf5niit shouldn't be. Average tax rate on the entire income will not cross 25% especially considering the total income is split between two individuals (him and his partner).
Their in-hand should have been 48 lakhs atleast if not more.
@@aakashgupta8097 Right bro. This guy does not sound genuine he says having experience of 10 years and is 29 year old. Having loan at 5.5% which is impossible sound fishy.
And 10% he donates so 50% is left out.
Please put English videos or atleast subtitles
Anshuman can you please let us know what health and term plans you have 🙏
He will ask , vah kya hota hai?
8 apartments in 70 lakhs :O
studio
Gold give more returns than bse in 20 year period.
This is a fake video.
Who is partner?
How he is 29 yrs old
Child prodigy hai kya😂
Bro living on 70rs per day
Jay jagannath 7:00
Oh bhai if he makes an fd every month of the same amount u quoted 57k he will get compounded interest n principal with total as 64 lakh with interest rate of 7 percent with no risk.
He doesn't look like 29, he looks like 39, due to stress maybe
He sounds emotionaly intelligent
This episode is not believable to me. He says he has a partner, and then says he is saving money for his marriage. Looking at his house, he seems to be living in a 1BHK with a single bed in the hall, it would even seem like 1RK. It seems like he is living as a bachelor. Living in same house in Bangalore for that last 7 years and rent is only 16.5k, that's unbelievable. In the last 1 year itself house rents in Bangalore have more than doubled.
His budgeting is too confusing to keep track of. He said his cumulative income is 70L including his partner, but his monthly expenses for food and other stuff doesn't seem like its for 2 people. He said he cooks himself and his cousin comes to help cook and his students from nearby PGs come and they all have food together. So where exactly is his partner in this situation? His housing loan will work out to 1.3L if the tenure is around 3.5 years, that one's fine.
If 3.2L/month is a cumulative income after adding his partner's income too, then doesn't that partner have their own expenses and wants to spend their money on? All the expenses and savings he mentioned seem like unilateral decisions taken by him. Spending money on buying car for parents, sister's wedding, buying a plot of land for 41L. It seems like he is incharge of the entire money. Tell me in this day and age which high earning person gives away their income completely to a person to whom they aren't even married to. If they are living together in Bangalore, how come their lifestyle isn't inflated according to their incomes.
His plan to build 8-9 houses in just 70L is outright ridiculous. We build a house 2 years back in a tier 2 town which came around 4000 sqft. 1 big house of 2000 sqft in ground floor and 2 houses in first floor. This itself costed us around 1Cr due to the rising material costs. So his plan to build 8-9 houses which will definitely have a built up area of 6000-7000 sqft will cost him atleast 4-5 Cr after few years considering the inflation in place. You can build probably 1 house in 70L, but that itself would be difficult. Also his expectation that real estate prices would go up 2x-3x in just a few years is unrealistic. If he sells a house for 25-30L forget about profit, he wouldn't even be able to recover the construction cost.
His reasoning that land and gold are not printable and are physical assets hence he invests in them is crap. It's true that land and gold are finite but their prices are inflated by money which is printable. The value of land is only as much as someone is willing to pay for it. And for that, the buyer needs to have cash which is printable.
He said, the reason for not investing in MFs but invest in real estate is because of taxes, but he doesn't seem to know that equity has a lower rate of tax. Also seems like all his real estate deals have been done just 2-3 days before the filming of this video, which means before he contacted Anushuman, he was loaded with cash so why did he require a fix your finance session being loaded with cash.
I kind of feel a lot of details in his story are bogus and he came on this channel for publicity.
Wow, exact same things came into my mind also, specially living with partner and then not mentioning about partner living or helping in cooking, great observation naveen!!
If the goal of having an emergency fund in fixed deposits is security, why would I not invest in the top 5 banks with solid financials?
You are an inspiration boy. More power to you.
Bhaiya i am alredy stable money user ❤❤
Hard assets are better because it can’t be printed
He must be working for the banks IT as a vendor.
He is only 29 years old. Has enough time to save a good retirement corpus.
But keep in mind that the banks vendor job may not remain in the coming years due to changing RBI policies and inhouse development will decrease drastically.
It's high risk high reward industry