Where And How Do You Spend Your Monthly Salary [2020] - SwisterNews

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Sunday, 22 December 2019

Where And How Do You Spend Your Monthly Salary [2020]

Before start writing about this article everyone must keep in their minds, the amount of the salary may differ from yours. So I am writing here about the average salary (26k +).
           Suppose a person Deepak is living in Delhi NCR. He is a sales executive in a multinational company and his age is approx 25 yrs.
           Let's talk about where he is spending his entire salary and in the last I will write where he should invest most of his savings.


Deepak's exact salary credited in his bank account is Rs. 26583/-
  1. In his first transaction he spends daily Rs. 70 on travelling expanses which makes Rs. 1750/- (70 x 25 days).
  2. Rs. 60/- on everyday lunch on working days (60 x 25 = 1500) and on other days (120 x 5 = 600).
  3. He spends Rs. 6000/- per month for his stay (pg) which includes both times meal. 
  4. He did some monthly expanses Rs. 2500/- which I am counting as a mixed expenditures (buying snacks and watching movies etc.)
  5. He spends Rs. 3000/- per month for buying new dresses (clothing & shoes) for himself.
So here is a list of all of his monthly transactions which may be similar to your transactions. So on his overall expenditures he spends Rs. 15350 and save Rs. 11233.

Where He Should Spend Most Of His Savings To Get Higher Returns In Future :


With the overall conclusion I find it that Deepak saves upto 42% of his salary. So it is great achievement for him. But if we compare it to the real world it may fluctuate. Deepak did this much savings because of his simple life livings. 
So let's discuss over where she should invest his savings and why?
  1. Mutual Funds : 
  2. SIP :
  3. IPO's :
  4. Equity :
  5. Gold :
  6. Fixed Deposits :
  7. Insurance :
  8. Gadgets :
  9. Selling :
Note : There are well known 9 platforms where he should invest his savings, we will discuss each and every topic simultaneously. But before discussing about all of these you have to open your demat account. Without opening the demat account, it is not possible to invest mutual funds, sip, ipo, equity, gold etc.

What Is Demat Account, How To Open A Demat Account And Which One Is Best ?

A Demat account is an account to hold financial securities in electronic form. In India, Demat accounts are maintained by two depository organisations, NSDL and CDSL. A Depository Participant, such as a bank, acts as an intermediary between the investor and the depository. 
             The Demat account number is quoted for all transactions to enable electronic settlements of trades to take place. Access to the Dematerialized account requires an internet password and a transaction password. Transfers or purchases of securities can then be initiated. Purchases and sales of securities on the Dematerialized account are automatically made once transactions are confirmed and completed (source: wikipedia).

Opening a Demat account is not a rocket science. It is very simple. And a lot of companies are available in the market who open the Demat account. 
              Here is the list of best Demat account opening companies because they charge a minimal amount to opening or trading your demat account. 

(1) 5paisa : Open a free Demat Account in 5 minutes and pay just Rs. 10/Trade.  
(2) Upstox : Open a free Demat Account and get partner benefits of  worth Rs 28,000.  
(3) Zerodha :
(4) Angel Broking : Open a free Demat Account in 5 minutes and pay just Rs. 20/Trade.  

To open your Demat Account, keep your Aadhaar Card, Pan Card, Bank Passbook with you. You just need to upload all of your these documents and also you need to verify yourself by IPV process. In which you need to upload your 10 seconds video.

When you complete all the processes, your Demat Account will be activated within 24 hrs*.

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