How I saved ₹40L for my first home
Before you say buying a house is foolish, let me stop you. It’s a personal decision and I want to buy a house for my parents in Bangalore so I’m doing it. Yes, I’ve weighed the pros and cons and am okay with the cons. So, I started my career at Accenture 5 years ago as a consultant after my MBA, and saving for a down payment on a 1.5Cr house in Bangalore felt impossible. I’ve finally saved up 40L and here’s how I did it:
- Missed out on almost all the international trips my friends took.
- Automated 30% of my salary into mutual funds (SIPs).
- Skipped the car EMI and stuck to public transport and bought a bike.
- Used Accenture’s ESOPs and reinvested gains.
- What also helped is using apps like INDmoney to track investments and gains.
I've come far but yeah I've also missed out on a lot of fun activities that my peers indulge in. It's a conscious choice that I make every day.
Talking product sense with Ridhi
9 min AI interview5 questions
Don’t feel bad even a tiny bit about missing out on the fun activities that your peers might be engaging in. Buying a house is a big decision and a solid investment, difficult for many in the current economy. Everyone aims for it, only a certain percentage is able to attain it.
Saving for it is a massive commitment in itself which only a few can comply with so you should very well congratulate yourself for that. You parents would be super proud !
Good effort and congratulations incoming
Good for you!
You did it right , your parents raised you well. Whatever they taught you at MBA course worked.