Where do Indians spend their money?
- Retail & shopping: 25%
- Groceries & daily needs: 12%
- Service & utilities: 12%
- Education: 6%
- Healthcare: 4%
- Travel: 3%
- Entertainment: 2%
- Other expenses: 10%
(Source: PhonePe)
The 1% Club
@getonepercent
The 1% Club is India’s biggest finance community, 👫 helping people achieve Financial independence, a superpower 🗝️to never be controlled by money. 💰
Joined January 2023
- Today, we had a special Pooja ceremony at our new office in Mumbai.🙏🏻 It was a special events as we performed a Pooja to seek blessings for a prosperous future. ✨ Let's celebrate this exciting milestone together!💛
- We have officially inaugurated our new office space in Mumbai!🚀 The vibes are high and we're ready to make great things happen in our new space! To commence this journey on an auspicious note, we conducted a small Pooja ceremony at the new office. 🙏🏼✨
00:00 - Indians are reserving their money into - 49.4% Property - 15.1% Bank Deposits - 15% Gold - 6.2% Insurance Funds - 5.7% Provident & Pension Funds - 4.8% Equities - 3.5% Cash Source: RBI
- How did Kunal Shah pave his way to a staggering net worth of ₹15,000 crores? 💼💰
- Happy Birthday to our coolest bossss! @financewsharan 🥳✨ Wishing you a day as awesome as you are, and a year ahead filled with triumphs and high-fives! 🎈🎂
- The number of years it takes to double your money at different return rates. 2% - 36 yrs 4% - 18 yrs 6% - 12 yrs 8% - 9 yrs 10% - 7 yrs 12% - 6 yrs Proves that every percentage point matters.
- How to become the top 1%? 🧵
- 50-30-20 Rule Divide your income into 50% - Needs (Groceries, rent, EMI, etc) 30% - Wants / Desires (Entertainment, Luxuries, etc) 20% - Savings (Equity, MFs, Debt, FD, etc) At least try to save 20-25% of your income.
- 7 Reasons Retirement Planning is a Must Discover why planning ahead is vital for a secure and fulfilling future 💼 A Thread🧵