Under the Yoke

Where are you and where are you going?
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fiby41
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Under the Yoke for February 2022

Post by fiby41 »

Saved 85.71% of take-home salary or
saved 88.10% of gross salary.
Received interest income amount little less than about a third of gross monthly salary and principal got renewed at 6.25% p.a.
Total income in February was 4.90% more than total income for January.
Total expenditure in February was 7.67% more than the total expenses in January.
Total income in February was 8.4 times of salary in February.
Projected gross & net salary for March will be same as that in February.
Total savings are 41 times monthly take-home salary or
total savings are 34.13 times monthly gross salary.
Dynamic reserve index: 21 years.

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fiby41
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The frugal are ever blissful. मितव्ययी सदा सुखी। mitavyayī sadā sukhī

Post by fiby41 »

Savings rate for the month of March 2022 was 86.24%
Largest expense was paying the salary of the site supervisor overseeing construction of dad's house, then food and transport.
Income will increase by 5.05% in April in comparison to March.

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fiby41
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...Savings will go on increasing like the first day after nomoon

Post by fiby41 »

Income in April was 7.7% higher in March.
2/3 of this rise is due to working from office and the remaing 1/3 were reimbursement for paying for internet during 2.75 months of WFH.
Savings rate for April is 65.95%.
Top 3 expenses are travel, LPG (liquified petroleum gas) and food.
Rolling average of the savings rate is 87.20%.
Income in May will be 97.90% of that in April.
Income in May will be 10.32% higher than March.
Savings rate in May will be atleast 90.04%.
I could borrow 2.26 months' salary on credit card.
I could borrow 20 months' salary on for an automobile loan.

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fiby41
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Re: Under the Yoke

Post by fiby41 »

Borrowed from mother to buy non-convertible debentures (bonds) worth what amounts to 2/5ths of next months pay with tenure 36 months and coupon rate 11% p.a. of a lossy company.

I've heavy exposure to financial companies through fixed deposits and bonds (fixed income assets.)

Will likely live at the office in July during the rainy season after the train pass has expired. Will have to spend on food buy will reclaim 3 hours per work day spent on commute and could join gym.

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fiby41
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End Game

Post by fiby41 »

Got comfortable at job where it doesn't feel like work so no longer still learning even after getting back home from work. Trying to develop low-cost hobbies. Chess, listening to/reading podcasts/books and excercising.

Excercising with dumbbells has one disadvantage that I'm only working out the shoulders. I need to learn how to do body weight training so that other parts of the body get involved too. Body is the temple of Govinda and should be maintained well but we are not this body but the soul in it so I sould not be too bodily-consious or materially attached. People at the temple would rather have us serving at the temple that working out at a gym as we live in an attention economy so they make fun of/discourage it but the word mahā-bāhu meaning mighty-armed is used in the Bhagavad-gītā. It is ironic though when people come to the gym using vehichles just to run on tredmills when they could have just walked the 20 mintutes either way instead of 40 minutes when there. Annual membership fee at the basic one on the way between station to flat costs 1/4th of monthly gross salary.

Having something to listen to makes the commute suck less but if the topic is too interesting I sometimes zone out and risk having a vehicle pass too close while walking.
Don't have internet connectivity during commute so have to remember to download before leaving from flat/office.

Chess requires presence of mind so difficult to relax/decompress while playing but even though I keep loosing a game for every 3 win, it is addictive. I continue when I'm on a winning streak and do something else after I lose to maintaing my score. Can this attitude translate into trading?

2 months of expenses saved in NCD (bonds), 8 in EPF, 19 in crypto, 8 in ETF, 26 in JSBF, 102 in SBI and 12 in USFB totalling 14 years and 9 months.
Savings will last until I am 39 years and 2 months.
Still have 20 years and 10 months to save for.
That will take 2 years and 4 months.
I will be financially independent on the payday of September 2024 being 26 years of age.
Last edited by fiby41 on Sat May 28, 2022 11:37 am, edited 1 time in total.

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Slevin
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Re: End Game

Post by Slevin »

fiby41 wrote:
Sat May 28, 2022 5:23 am
.

Excercising with dumbbells has one disadvantage that I'm only working out the shoulders. I need to learn how to do body weight training so that other parts of the body get involved too.
I love bodyweight training and would personally recommend some in the routine but dumbbells can definitely target non shoulder muscles (as the soreness in my forearms, biceps, chest, back, feet, hip flexors, and calves can attest to right now). What is your routine like currently? With the pushing and pulling motions, are you doing both arms at the same time, or one at a time? Are you using heavy enough weights so that you need to overcompensate with your strongest muscles (which might be your shoulders here)?

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fiby41
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Re: End Game

Post by fiby41 »

Slevin wrote:
Sat May 28, 2022 8:49 am
What is your routine like currently?
After warm up, I pick them up holding at the sides, rotate my arms circularly until the wrists are above the shoulders, then move them straight up above my head until elbows are straight. Then reverse till the arms are to the sides again. This in sets of 8 repeated 8 times each.
Slevin wrote:
Sat May 28, 2022 8:49 am
are you doing both arms at the same time, or one at a time?
Both arms at the same time.
Slevin wrote:
Sat May 28, 2022 8:49 am
Are you using heavy enough weights so that you need to overcompensate with your strongest muscles
The weight says 5 kg on them but I think you've hit the nail on its head in identifying the problem correctly. I've been doing the same routine for 2 years now after the lockdowns hit so I may have to shake things up a bit by trying with higher weights.

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fiby41
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Under the Yoke for May 2022

Post by fiby41 »

Income in May was 0% more or less than the income in April.
Savings rate for May was 93.28% of net (take home/ in hand) salary.
Savings rate rolling average is 90.08%.
Street food was the largest expense in May.
Actual savings rate in May was 3.24% more than projected.
Income in June is projected to be the same as the income received in May.
34.93% of May's salary went to reimbursing mother for helping me out buying bonds and maintaining minimum balance in a bank account,
27.01% has been earmarked for gym's annual membership, leaving me with
36% to buy more bonds but unfortunately I may have to give it to father as he wants to do home decor.
Savings rate for June is projected to be 72.99% unless father decides not to reimburse me back in which case savings rate will drop further to 36.93%.
Projected savings for July looks dismal as well due to the same aforementioned reason.
Earning growth will be flat until September when it will rise by 23.48%.

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fiby41
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Under the Yoke for June 2022

Post by fiby41 »

Savings rate in June 2022 was 97.34% before the annual gym membership and 70.33% after factoring it in. Gym is 2.25% of monthly salary spread out. Food and transport are the next 2 top expenses. Downgraded from first class to second class reducing spending on quarterly train season ticket by 69.89% of the previous quarter.

Rolling average is 79.99%

Books read/listened to, mostly during commute:
How To Win Friends And Influence People
Exactly What To Say
Thinking Fast Slow
Influence: The Psychology of Persuasion
The Pimp Game: Instructional Guide

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fiby41
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For every million I make, another relative sues

Post by fiby41 »

I'm a rupee millionaire.
Enough to put the F in FU when refusing immediate boss' offer for working more than 8.5 hrs and on weekends.
Completed a year at current employer and was offered a 25% raise anyway.
Saved 94.77% this month. Top 3 expenses: Food, bus (transport) and an underwear (clothing.)
Rolling 12-month savings rate is 89.86%.
AUM (assets under management) is 34% higher than same time last year.
AUM will be exhausted by Jan 2090 if I spend like I spent this month.
Unfortunately the gym talked me into hiring a personal trainer for 3 months.
Running out of leaves which were taken to visit extended family, prevent burnout and study/test for other jobs.
Listened to:
Trump: The Art of the Deal
The 7 Habits of Highly Effective People (CTO raves about this)
The Art of Money Getting (auther was born in 1810)
Fooled By Randomness
How to Be Better at Almost Anything (generalize not specialize)
Deep Work (my justification for not having a data plan on the phone)
Talking To Strangers (I expected startegies for inter-personal communication, got something else altogether entirely.)

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fiby41
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Under the Yoke for August 2022 or If You're So Smart, Why Aren't You Rich?

Post by fiby41 »

Savings rate would have been 75.51% but thanks to the 22.27% increase in salary the actual savings rate came out to be 79.98%.
Savings grew by 3.41% this month and I spent like I spent in August, my savings would last until May 2037.
Earphone got lost in the train crowd on the first day of the month and did not buy a new one until the 24th.
Had worked out with the trainer that morning making me tired and I boarded the train later so the influx of crowd got the better of me.
This lead to replacement of listening to audio books with closing eyes and dozing off or chanting during commute. Books listened include Financial Statements- Step By Step Guide, Before You Quit Your Job, Neuroscience of Self-Discipline.

Fitness is the single largest expense divided between the personal trainer and food making August the second most expensive month.

All time savings rate stands at 89.78%.

sky
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Re: Under the Yoke

Post by sky »

What does chanting during the commute mean?

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fiby41
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Re: Under the Yoke

Post by fiby41 »

@sky It is possible to be in association with God by remembering His name, qualities, form and passtimes.
As God is Absolute, His name is non-different from Him.
Everything has value, in its relation with God, which is why He is in the center of my web of goals. Image
Chanting consists of attentively repeating the mantra-
Hare Kr̥shna
Hare Kr̥shna
Kr̥shna Kr̥shna
Hare Hare
Hare Rāma
Hare Rāma
Rāma Rāma
Hare Hare
As soon as one remembers the Lord, the mind becomes peaceful, and one is freed from all material hankering.

sky
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Re: Under the Yoke

Post by sky »

Thank you. I was a bit puzzled as I imagined someone chanting in a bus or train.

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fiby41
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Spending Myself Broke Buying Assets or Only Thing Better Than Double Booking is Triple Booking.

Post by fiby41 »

Spent 10.15% of monthly salary for post graduation admission entrance exam fee. Wont be enrolling until 2026 (unless I qualify for tier-1 or tier-2 college) which is after I would have become FI but could give the exam every year until then to stay in the habit of studying as the exam is conducted annually.
Second highest expense is transportation with train tickets to another city for the employeer's bi-annual meeting which'll be reimbursed.
Earmarked 7.94% of monthly salary for 1st class 3-month train pass starting next month. Had downgraded to 2nd class for the previous 3 months of the rainy season and lost earphones after 1 month. I try to reach the workplace before 9 am although timings are flexible because otherwise there is no place to stand inside the train.
Buying bus tickets using an app that gives discount on route-independent tickets which doesn't require being connected to the internet and requires being disconnected from earphones; and shows nearby busses with the minutes they are expected in which required internet.
Borrowed 74.63% of next month's salary to buy non-convertible debt having yeild 11.01% p.a. and 36 month duration.
Was double-booked last Tuesday for an interview with a 40% hike possibility and an interpretation gig, neither of which panned out and I had taken a leave. Only thing better than double booking is triple booking.
Got a job offer after nearly a year and 5 days but the salary is 6.83% lower than what I make at present.

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fiby41
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Under the Yoke for September 2022

Post by fiby41 »

Saving rate for September 2022 was 82.28%.
14 month rolling average stands at 88.60%.
Savings grew by 3.29% in September 2022.
Savings will exhaust on October 2039 with monthly spending like that of September 2022.
Food and transport remain the two largest expenses.
PPF and bonds were the two largest investments.
Spent 7.88% for quarterly train pass.
Haven't been to the gym in 5 days. Longest absence ever since joining in the last week of July.
Will have to take an extended leave without pay or quit outright in order to study for masters enrollment.

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fiby41
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Re: Under the Yoke

Post by fiby41 »

A co-worker who had been a former roommate quit to study for an exam. I can empathize with him, as after 11 hours to, at & from work and 1 to 1.5 hours of gym, there is not enough time, energy or attention left to learn much.

Studying for the entrance exams for MBA/MTech/ME/PGDM carries an opportunity cost as you have to be in the 95 to 99 percentile to get into tier 1 & 2 colleges that'll provide a CAGR of 50% over my current salary.
In comparison, when switching, the new company asks for previous 3 months' salary slips and offers 10% more regardless of the value you can generate for them.

I seem to have been able to wiggle myself into a sweet spot at work. Over the months, I average about 1 day of overtime a month (all overtime is unpaid.) An interesting podcast I heard with the founder of 2 unicorns mentioned this. People in my country are almost never paid by the hour so they never learn the time value of money and exploiting efficiencies. I used to work Sundays from home even with my birthday coming up that week because I have no life and the work was interesting. It was challenging and a little bit of ego was involved... I was near the bottom of my graduating class, majored in X subject, gave interview and was hired for Y profile but assigned work on Z... will I be able to do it? How long will I take? Did they make the right descision by trusting me with development instead of support? Only one way to find out...

The projects I'm assigned to changes every 3.5 month on average... which is good for me as I get bored easily. Rest of my team except 1 is in another city and they snap up the easy (hence monotoneous) tasks as soon as those tasks are created by the team lead. No one doubts weather I am slacking off now as I've put in the work earlier and learning everything I could about the current stack before and after going to work in the months past. Which leaves me wondering- Is this what I want to do for the next 3 to 30 years? Given sufficient time, I could solve any problem- so why not the problem of increasing income? My effective hourly rate is only ₹100 so should I also work as much? Kaizen should be applied here... learn only as much required to do the task at hand. If my project/stack/company changes every few months/years, how long before I burn out from constantly learning the nitty gritties? Wouldn't I have a higher RoI reattempting the masters' entrance exams over years until the payoff rather than switching jobs every few years?

My annual internet plan expires this month and I don't plan on renewing it as I get my daily dose of internet at work so it's likely that the next journal update will be while at work.

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Slevin
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Re: Under the Yoke

Post by Slevin »

fiby41 wrote:
Sat Oct 22, 2022 11:49 am
Studying for the entrance exams for MBA/MTech/ME/PGDM carries an opportunity cost as you have to be in the 95 to 99 percentile to get into tier 1 & 2 colleges that'll provide a CAGR of 50% over my current salary.
In comparison, when switching, the new company asks for previous 3 months' salary slips and offers 10% more regardless of the value you can generate for them.
Can you fake the payslips? What would the consequences be if you got caught? No new job? Or something more serious?

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fiby41
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Re: Under the Yoke

Post by fiby41 »

Slevin wrote:
Sat Oct 22, 2022 1:45 pm
Can you fake the payslips? What would the consequences be if you got caught? No new job? Or something more serious?
I haven't tried nor do I know anyone who has so this is complete speculation but...
All my payslips so far have been PDFs which are not even digitally signed, just an image for the CEO's signature. I could forge the documents but apart from the ethical aspect, there are 2 ways I could get caught- if they ask for the offer letter and the numbers don't tally or call my present employer/seniors/references/testimonials and inquire.

I have an unverified hunch that asking for present and expected CTC (cost to company) has just become a SOP (standard operating procedure) for HR. In the end they are going to offer you whatever the budget is for that position or 10% over your current CTC, whichever is lower.

Worst that could happen if I get caught is getting blacklisted but blacklists have only a company wide scope so I may not be able to apply for other jobs at that company.

ertyu
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Re: Under the Yoke

Post by ertyu »

If you do get caught, I assume you'll be fired. Will future employers ask your current HR what was the reason for firing you?

I guess the best outcome of the cheating case is, get a job with faked documents then change jobs as fast as possible, using the legit documents of the second place to obtain actual legit salary increases in the future

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