What can you do with a 20000 salary?
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What can you do with a 20000 salary?
Tips To Save Money With 20000 Salary
- Clear Debts With High-Interest Rates.
- See Where You Can Cut Expenses.
- Open A Recurring Deposit.
- Do Grocery Shopping In Bulk.
- Prepare Your Budget Wisely.
- Look For Extra Income.
- Shop On The First Day Of Sale.
- Use Your Bank’s Online Facility.
Is 20000 rupees a good salary in India?
As many as 23.6 per cent people consider a monthly income of Rs 20,000-30,000 good enough to support a family of four. In 2019, 50.2 per cent participants had considered Rs 20,000 monthly income good enough for leading an average quality of life. This effectively means Rs 5,000 for each of the persons.
Where should I invest Rs 20000 a month for 5 years?
I want to invest Rs 20,000 a month for 5 years to earn 12\% return. Where should I invest? You can invest your FD interest proceeds in the direct plans of these funds—Tata Index Sensex or HDFC Index Sensex; Parag Parikh Flexi Cap and/or Mirae Asset Emerging Bluechip; and Axis Small Cap or Kotak Small Cap Fund through SIPs.
How to invest Rs 14 lakhs for 10th year?
So, we would suggest you invest the rest 20\% i.e. Rs. 6,000 in Equity Funds of Diversifying category like Large, Multi & Mid-cap. From this investment, you can expect a 12\% return over the given period. By doing this, you can accumulate around Rs. 14 lakhs at the end of the 10th year. So, now you will have cash of Rs. 14 lakh.
How much should I invest in mutual funds?
Currently, you are investing 20\% of your combined money in mutual funds. It would be wise to increase this amount to 40-50\%. This is because long-term investments in equity can yield much higher returns, to the tune of 12-15\% annually, and downplay the effects of inflation on your corpus.
How much should be kept in an Rd & savings account?
Rs. 2,000 will be kept in Savings Account every month for dealing with daily expenses. Any unutilized money in RD & Savings Account at the end of the year will be invested in Mutual Funds as a Lumpsum. To be more realistic, now, plan for the next 10 years.