Stock markets crash
The Indian stock markets witnessed their worst July performance in 17 years. Almost all the mutual funds and stocks saw a sharp fall during the month. As a result, our equity investments suffered a loss of around Rs. 2 lakhs. Some of the primary reasons for this are
captured in this article – https://economictimes.indiatimes.com/markets/stocks/news/whats-going-on-in-the-equity-markets/articleshow/70696040.cmsHome improvement
A major chunk of our expenses went into buying furniture, bathroom accessories, curtains, plants and flower pots etc. for our new rented home. This was as per our forecast.
Advance travel bookings
At the end of July, we made a travel plan for October to make the most of the leaves on Ram Navami and Dussehra. Although this tour wasn’t planned, an advance booking helped us to get a discount of 25% from the tour operator.
Other Highlights
- Expenses were 27% of income. A bit on the higher side but 9% was for travel booking which is not a recurring expense.
- Spends on entertainment and commute were further reduced. We started walking to(and back from) the office.
- ITRs filed in June were processed successfully.
- Recharged our grocery app through Amazonpay and got 50% cashback in the app’s wallet.
Below is the pie-chart depicting category wise expenses:-
Investments
We opened another FD and contributed to an existing RD. We also bought stocks and mutual funds which were available at reduced valuations, due to the stock markets crash.
Forecast for August
- Some additional expenses for home improvement.
- We will finalize and book all travel tickets(train/bus etc.) for plans till end of this year.
- A bounce-back in the equity markets is not expected in the current scenario. However, we are hopeful to not see a repeat of July performance.
- We expect the expenses to be lower than 20% of the income.
Retirement corpus as on August 1st, 2019 – Rs. 1,32,47,691
In August, we also reviewed and updated our FIRE target.
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