Anita shares details of her earnings, investments, expenses and goals.
Take-home salary
Rs 32,000
Money in her savings account
Rs 72,000
Home
She bought a home worth Rs 16 lakh (Rs 1.6 million). Towards this end, she took a loan this year and her first repayment was in June 2006.
Loan = Rs 14 lakh (Rs 1.4 million)
Tenure = 15 years
Equated Monthly Installment = Rs 13,993
Rate of interest = 8.75% floating rate
Monthly expenses
Rs 8,000
Including the EMI, it amounts to Rs 22,000 per month.
She does not mind a high EMI because of salary hikes every year and an annual bonus of around Rs 65,000 to Rs 70,000.
Medical insurance
Covered by company
Goals
Currently, with no plans of marriage or children, she has listed three goals.
1. Do up her house really well. She has put the date as March 2007 and would like to save Rs 1,00,000 towards this.
2. In April 2008, Anita plans to take a holiday abroad and needs to save another Rs 1,00,000 for this jaunt.
3. Finally, there is retirement. "I don't know how much my corpus should be," she confesses.
