How a 24-Year-Old Saved ₹3 Lakh on a ₹29,000 Salary: His Journey to Homeownership (2025)

Buying a house on a modest salary sounds like a far-off dream for many young professionals, but one 24-year-old is determined to make it happen. With no family savings or financial cushion, he has been quietly building his own path to financial stability. Now earning Rs 29,000 a month, he recently broke down his spending and savings on Reddit—and asked the internet for advice on how to hit his big goal: owning a home.

The young man shared that during his internship days, he saved his entire stipend, creating a Rs 1 lakh emergency fund that now sits in a fixed deposit earning 7%. Since starting his full-time job just over a year ago, he has managed to add another Rs 2 lakh specifically towards his dream of buying a house.

His journey hasn’t been easy. Coming from a lower-middle-class family, most of his parents’ earnings always went into educating him and his brother. “My parents never had more than a few thousand rupees in their bank accounts,” he wrote. That’s why crossing the Rs 3 lakh savings mark feels like a milestone worth celebrating.

Here’s how he currently divides his monthly Rs 29k income: Rs 10,000 goes straight into savings, Rs 10,000 to his parents, Rs 3,000 into SIPs (split between Nifty 50 and Small Cap funds), Rs 1,500 for term life insurance, Rs 2,000 for personal expenses, and Rs 2,500—earlier used for unplanned costs—will now be directed toward health insurance premiums for his parents.

What makes his story stand out is not just the numbers, but the discipline behind them. While many in their early 20s splurge, he’s prioritising his family and long-term goals. He admitted his parents don’t even know about the extent of his savings, but his next focus is to secure their health insurance before continuing to build his house fund.

Internet's advice

Redditors were quick to praise the 24-year-old for his discipline, with many pointing out that saving Rs 3 lakh in just over a year on a Rs 29,000 salary—while also supporting parents—is no small feat. Some highlighted that his emergency fund of Rs 1 lakh parked in an FD was a solid start, and agreed that prioritising health insurance for his parents was the smartest next step before expanding investments.

Several users suggested tweaking his SIP allocations, noting that putting 50% in small-cap funds was too aggressive. They recommended shifting to a safer mix, such as 70% Nifty or flexicap and 30% small-cap, to reduce volatility while still aiming for growth. For his house savings, many advised against equity since the goal is short-term, and instead suggested safer options like arbitrage or ultra-short-term debt funds for better post-tax returns.

While most applauded his consistency and focus, a few also encouraged him to zoom out and rethink priorities. Instead of stressing too much about buying a house early, they urged him to focus on boosting income—through salary growth, freelancing, or side hustles—arguing that higher earnings would naturally accelerate his long-term financial goals.

Others shared personal stories of their own struggles at the same age and admitted his approach gave them positive motivation. Overall, the internet seemed to agree on one thing: he’s already ahead of most people in his stage of life, and his steady, disciplined approach will pay off if he continues building step by step.

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