Living On Rs. 38 LAKH In Mumbai| Fix Your Finance Ep. 74
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- čas přidán 10. 06. 2024
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Hello guys, welcome to another episode of Fix your Finance. In today’s episode, we meet 32 year old Bhavesh who is a software developer in Mumbai. He has been working in the IT sector since the last 11 years. In this video we talk about his income, expenses, loans and liabilities and investments.
We also talk how to manage one's EMIs and loans, calculate one's net worth and how to conduct a buy and sell analysis for a property that one owns.
and much more!
Enjoy :)
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📷 Camera: bit.ly/sonyZV1cam
🎙️Indoor mic: bit.ly/Rodewirelessgo2
⚡Lights: bit.ly/digiteklights
🕹️Tripod: bit.ly/DigiTekTripod
MY TOP 5 FAV BOOKS 📚
Ride of a Lifetime: bit.ly/rideofalifetimebook
The Millionaire Fastlane: bit.ly/TheMillionaireFastlane...
Zurich Axioms: bit.ly/ZurichAxioms
Masters of Scale: bit.ly/masterofscale
Just Keep Buying: bit.ly/justkeepbuying
#fixyourfinance #personalfinance #moneymanagement
Disclaimer: Neither the guest nor I am a SEBI registered investment advisor. Information shared is only for educational purposes and not investment advice.
Music licensed by Epidemic Music
The name of your channel should be Flex Your Finances
Rightly said, most of the episodes should be concentrated on people earning 3-10LPA as they don't have(can't afford) any finance manager. Anyone above than that can afford to hire someone to fix their finances so focus should be on below 10LPA.
Well to fix one's finance, there should be finance existing .. 3-4 lpa isn't enough finance to fix .. Obviously a person that amount of money won't be thinking bout saving or investment with such low amount of money..
But I guess such salaried people are sacred to call as they don't want their relatives to know their income right!
Bro he covers all income levels, don’t be jealous
@@varunacharya4583 possibly but there should be many requests by such people.
I think this generation needs to become self-aware of the fact that they might be getting into a debt trap, and that too for an asset with very poor returns. Servicing a two-crore loan on a 2.3 lakh net salary could sound like too much to handle. These individuals should open their eyes to the reality that their earnings might not continue to grow at linear rates and, in fact, could face stagnation or even worse-layoffs after 35 in the IT field.
Anshuman fixes finances of those who need no fixing.
😂😂😂😂
😂😂 true
Right
do you understand poor finance? only high salary is not good finance . this guy is fkedup finance with loans
This guy is Living on Day dreams of 20%growth .Common sense and practical vision is need of Hour.
He is lying abruptly. Even cream top performers don't get regular 20 percent hikes. 10-15 on an absolutely good note would be acceptable
This channel is not for middle class
True
Guest's audio is not clear.
Avarage BSC IT guy earning 38 lacs and BE IT crying in corner 😛😛😛😛
Not possible income growth is very slow at high salaries. Also, he will get surcharge lowering his return and income as well. 4 lac in hand needs 8L per month salary.
Yes right. surcharge is a killer
He will be laid off within two years. Mark my words.
@@chaaaaaaaaaaaad Nazar lagane kyu aate ho bhai khud bhi kama lo na
I hope it doesn't happen immediately. Free lancing is not allowed in many MNC. Not sure if this is a HR violation
@@chaaaaaaaaaaaadwhy are you jealous?
20 Yr old property wouldn't grow at 4%PA
Bro u did only bsc it ...and u get such a high pay job...its actually very nice
The quality of the videos can definitely be improved. The audio of the guest was not clear and there was a sound glitch also in the end.
If Anshuman was a builder, he would build constructed homes.
People in the comments know more about the guy's job than the person who is doing said Job for 11 years. Kaha se aate hai yeh log 😂
I'm in IT and I also think this guy is over estimating his salary growth. 15% income growth is very difficult for high income brackets. I'm not saying it's impossible, I have seen people to get 50% as well.
This channel has become a joke. Time to unsubscribe it.
Is it fix ur finance or flex ur fiance show? He is earning 2-3 lakh per month and 21 lakh as investments, at the same time he is moving towards occupying 2 houses + a personal rented house in which he is living.
Also, except asking about evryones personal investment, house, and all other expenses how u r fixing anyone finances? Just by telling the same thing to everyone invest this this percent into mutual fund and then open a website that automatically calculate the numbers thats it. I do this all the time all u have to do is open a website. Fill year, amount and percentage. I do this all the time 😂
Great video keep going brother
Which company are you working for thats huge salary considering your just a Bsc. 12 to 15% is also very high increment. Im curious to know where you work ? :)
at 10 years of experience hi BSC degree is not doing anything for him , its all his work experience and ability to crack interview.
I personally think he should not have taken house worth 1.6cr considering his expenses. After 2.3L inhand, he is able to save net 30k which means his monthly expenses are arround 2L, too high..
And he is taking too much risk with high liability without having much savings in case something goes wrong.
the key thing missing is if thats his family income or just his income which changes the complete scenario.
@@suneeshkachroo he mentioned that's his income. I assume his wife is a home maker otherwise he would have mentioned it
Fix your finance ❌
Flex your finance ✔
how much tax is he paying out of 38 lakhs? that should be minus in his monthly salary
Around 70k
It is removed when be tells the in hand salary
In last of video no audio is there
bro no offence, pr fix karne ko ha kya iske case me ???
I don’t know how people are able to sleep at night with such humongous loans.
Family backing. He is upper middle class. Many things are not discussed in the video. Not a helpful video. Anshuman just wants to shoot in as many cities as possible..
@@aksmaltare You are right, without financial backing from family such loans are impossible.
Ask Vijay Mallya
It seems u forgot to add 20% paid for new property
It would be prudent to add his Borivali house in networth calculation. It is his responsibility till the loan is fully repaid, irrespective of the builder paying emi for a certain period. In unfortunate situations ( in case), he has to break his head and run around. This exercise is tiring and stressful.
For those saying he earns a handsome salary- He lives in Mumbai so 38 LPA is equal to 22 LPA in a tier 2 city
Bank don't give loan to buy stocks so for buying home you pay 10 lakhs and get a 50 laksh property
How can his epfo fund is only 8 lakhs, if his salary is 38 lakhs and has been working for 11 years?
15-20% konsi company de rahi h every year
its normal nowadays
@@msdadsfsxlol I am from this industry and except exceptional cases nobody gets
Fixing Finance ❌
Flexing Finance ✅
I am also in IT working in MNC but the reality is there is not more than 10% growth else you have to switch every couple of yrs
How can you not consider the Borivali flat loan as liability? He has already taken that load, though it is in subvention scheme, but ultimately he has bear the burden for the next 25 years!
Instead of investing in appartments one should invest in land where development is going to be good.
Anshuman also ask such people how to increase pay some tips on corporate.
20% growth is only possible if one switches every couple of years, staying in the same company and expecting 20% is too impractical!!
Audio glitch in end time period of video
But you hav not included the rebatal income when comparing with equity investments.
Dude has no idea IT job scenario would change drastically by the time he crosses 15 YOE. Forget 15% growth, saving the job might be a problem
Since he has already bought a 2bhk, should simply sell the 1bhk once he gets handover, close off the previous loan and use the rest for pre-paying some part of second loan.
In addition should get a term insurance. That was not discussed
Bro improve your microphone quality
1.64 CR for 2 bhk.. Down Payment done is 20% = 32.8 lac.. why did you take Home Loan of 1.5 Cr?
Then he mentions 90 percent is borne by Bank. Even then it's not matching
@@ashutosht10 correct
Rent ko bhi to consider karo property vs market analysis me
Same guest Delhi case me b tha...same age same family structure but salary from 28l to 38l??🤔
16.53 no audio
although video is very informative
Anshuman, why don’t you factor in rental income for all your calculation…
Unfortunately, the guest is obsessed with real estate. He likes to give away a large chunk of his income to the bank. High net worth which includes old apartments may not be worth a lot in reality.
Actually video glitch also towards end of video
Is it mandatory to speak in English if you earn above 10 lakhs?
Audio is not clear...
any social of bhavesh we can get
Its a flex at the age of 32
im sure his wife also earns a significant amount.
Very low audio!!! Hard to hear😢
Someone please turn on the AC!
It's expensive to buy AC in bombay
There is always stagnation in residential property depending upon the location.
Why would someone else purchase an old single room flat after 20 years for ~1.53 Cr when a new flat would be available at a similar cost?
Just doing standard math on real estate returns is an incorrect way to calculate.
new flat will be available outside city limits maybe in some village. that will be difference
@@abhijeettalele3443 Not necessarily, new projects do come up within the city, moreover as cities expand over years even outskirts become part of the core rather than remaining a village.
That's how expansion works in large cities like Delhi/ NCR, Mumbai, Bangalore etc.
Everything is hypothetical in this video
Audio check krlo bhai
Considering unsubscribing this channel. Nowhere an average person's income
Aur kitna fix karega finance itni income pe
😂😂😂
🐸
What was the point of this video? Pls interview and help someone who is in actual need, this guy looked sorted from all the angles.
Krishnappa Gowtham
Bhai fan ya AC on karleta, bheega hua hai
Noticed the same.
Poor audio quality
First but no likes
Bro think borivali is in Mumbai 🤡
Hahaha😂....
It is in Mumbai district not in Mumbai city😂
Mumbai city limits are from Dahisar to Colaba. Borivali is well within Mumbai and one of the most populated, developed, and prime western suburb. First educate yourself before passing dumb comments. I am sure you both reside in Virar! 😂
@@sagar.7750 😭😂 khud ko kb tak manayega bro Mumbai city start form bandra ...🤡
New warikoo
He has been making these videos for very long time. Warikoo has recently started probably watching him.
Warikoo copied Anshuman bhai
Like his second hand car which is yuck.. is his wife also second hand..😅😅
12 percent per annum hike, I wonder which skill he has and organization for which he is working
I am also from IT industry and this guys is dreaming of getting 12% increment every year on such high base of salary. May god bless him.
How long have you been in the industry?
@@shauryarana5360 This November, I'll be completing 16 years.
Yea after 15 yrs exp, it's tough to even get single digit hike
My salary is 3 lakh in Hand and I got 20 percent hike this year so it's true this much hike do happen
@@Ankitjaiswal-hd7pv bro for 3 LPA, you'll get, once u reach 20LPA, your hike percentages start reducing slowly. I feel it's easy to jump from 3 to 20Lpa, but from 20 to 50 it's kinda tough, beyond that God knows!
Bhai paise hum se lele kam se kam audio quality to improve karle 😂