I am not a financial guru. I however have been through the rough penniless phase; we all have been through. Even though I read a lot and consider myself a continuous learner, I am a complete illiterate financially.


My friend and I have been placed in the same company after our graduation. We have the same package and location. This is the first time I have money in my hand and zero idea on how to spend it. My first spend was on Adidas Adipure shoes which was 1/4th of my salary. I moved to a bigger room which ate half of my remaining salary. By 5th of month, I am back to penniless. Though spending varies, this is the story of almost everyone I talked to.

My friend, on the other hand, is frugal when it comes to spending. He stayed in the same room as earlier and had the same routine with no change in his routine. Fast forward two years, I have a personal loan to accommodate my spending, skipped credit card payments due for three months and I am staring at an angry and frustrated idiot who cannot buy anything without an EMI. On the other hand, my friend has applied for a home loan with no other liability.

It is then I realised that I have wasted time and money. I was angry and ashamed. This is when I promised myself that I will climb this debt hole I dug myself and do better. I switched to a new company, moved to a new location for fresh start, cleared my credit card outstanding in three months, reduced my personal loan. I cut down my expenses, started to cook on my own. Things started to normalise gradually. I can see the turnaround in my finances.


I set targets for my savings and started to explore investment opportunities. Once I am clear of debts, I set a target of 10% savings, 40% essentials, 20% needs and 30% for my travels. I have achieved this successfully until my marriage. This new phase has increased spending. By tweaking my targets, I am successful in achieving 25% savings as of now, which I am planning to increase till 30%. This may seem inadequate on first look. But a small step is the start of big leaps.

Coming to the Point

It is essential to budget our spending for any financial planning. There are apps available to track our spending. However, nothing comes close to you budgeting your income and expense on a monthly/yearly basis. This can be your guide in achieving financial independence. In lieu of this, I am sharing a tracker which I have created and using from past two years. I am changing it on a regular basis to suit my needs. If you think it is not a perfect match for you, feel free to tweak it. I request you to send me your tracker if you have any.

Link for tracker: https://linktr.ee/kiranprasad2001

Until then, Cheers!!! ✌️




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Kiran Prasad

Kiran Prasad

Food | Culture | Travel | Movies

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