I have just started working as a journalist. Though as a newbie my salary is not a lot, I still make it a point to save. My parents are middle-class salaried people who have built a great life by saving small amounts for years. They have taught me the importance of saving. With the help of my dad, I have started a SIP of Rs 10,000 that can come handy later on if I decide to pursue my Masters. I have given myself a monthly budget of Rs 10,000 for my local travel, shopping and eating out. The rest of it stays in my bank. This liquid cash can be used for emergencies or to treat my family to an impromptu dinner or outing.
Once I have a substantial amount saved in the bank, I plan to take a chunk of it and create an FD so it can earn some interest.