How I Spend my Google Salary | Software Engineer Living in Bengaluru

TL;DR

Fraz shares how he allocates his salary while living in Bangalore.

Transcript

Hi everyone, I am Fraz. And I've been working at Google for the past 1 year. In this video, I'll tell you how I spend my salary, living in Bangalore. So the first expense is house rent, now it varies very much, some people live in PG, some share flats, and those who have to make videos, get individual houses. So it starts from somewhere around 10,0... Read More

Key Insights

• 👪 Rent in Bangalore can vary significantly, from economical PG accommodations to expensive individual homes, with averages around 16,000 INR for decent apartments.
• 😋 Food costs are manageable due to subsidized meals at work but can escalate when ordering in, with Fraz spending around 9,000 INR monthly.
• 🏪 Transportation represents a considerable expense, especially for those preferring the convenience of cabs over public transport, potentially impacting monthly budgeting.
• 👾 Being single means higher living costs, with Fraz outlining total monthly expenses ranging from 46,000 to 50,000 INR, which can be reduced by sharing living space.
• 🚨 A valuable financial strategy recommended by Fraz includes segregating savings and investments to prepare for future expenses and emergencies.
• ⚾ Lifestyle expenses, including sports and shopping, contribute to overall monthly spending but can be adjusted based on personal preferences.
• 💦 The effectiveness of Google’s work culture is seen through free meals and the work-life balance Fraz enjoys, influencing his lifestyle and budgeting decisions.

Questions & Answers

Q: What is Fraz's monthly rent and maintenance?

Fraz's monthly rent is 16,000 INR, and the maintenance cost is approximately 2,500 INR, totaling to 19,000 INR each month for housing expenses. He notes that while the rent rate can vary widely in Bangalore, he has secured a decent one-bedroom apartment without having to pay a security deposit due to the goodwill of his landlord.

Q: How does Fraz handle his food expenses?

Fraz benefits from Google providing meals at the office, primarily eating breakfast and lunch there. For dinner, he cooks at home or orders food, averaging around 9,000 INR monthly for meals. He highlights that meal delivery can cost around 200 INR per meal, and he acknowledges that hiring a cook might be more economical if he were sharing living expenses with others.

Q: What are Fraz's transportation costs?

Fraz spends approximately 8,000 INR monthly on transportation, primarily using cabs for weekend outings and college trips. He expresses that cab fares can be quite high, and he would prefer to rely on public transportation or less expensive alternatives like bike rentals to save money, but ultimately chooses convenience over cost.

Q: How does Fraz approach his spending and saving habits?

Fraz allocates his remaining salary into two parts: 80% for investments and 20% as liquid money for emergencies or potential purchases. Despite acknowledging limited investment knowledge, he prefers safe investment options such as mutual funds, aiming to gradually enhance his financial literacy.

Summary & Key Takeaways

• Fraz discusses his housing situation in Bangalore, detailing his rent and the variability of housing costs, which can range significantly depending on location and type of accommodation.

• Food expenses comprise a significant portion of his budget as he often dines at Google and occasionally orders food, estimating his total food budget to be around 9,000 per month.

• He outlines other expenses such as transportation, lifestyle activities, and shopping, highlighting that his monthly living costs total between 46,000 and 50,000, which can vary based on lifestyle choices.