

Ask HN: how do I start learning about personal finance? - GeneralMaximus

Hello!<p>I&#x27;m a 23-year-old web developer with few expenses. In fact, I can count my expenses on my right hand: rent, utilities, phone, Internet, food. I believe this is the right time to start building up some savings. However, I have no idea how to go about doing this. I recently got some health insurance, but that&#x27;s pretty much it. All my money is in a single bank account.<p>I want to learn how to correctly manage my money, but I don&#x27;t know where to start. Can anyone point me in the right direction?<p>I live in India, so India-specific information will be very useful. But general tips are also welcome.<p>Thanks.
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mark38
Personal finance can be complex. But there are a few rules of thumb to live
by. Avoid credit card debt if at all possible, this is important. You may have
to take on long term debt in the form of a mortgage, vehicle loan or student
loan and these are unavoidable life expenses. Even though you may have these
long term outstanding debts and other recurrent expenditures it is still vital
to save. The amount you should shoot for is ten percent of your gross pay and
put that into a savings account first. You can save for your first car from
that or your next car. These are probably the two most important basics.

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tjr
I do not know how the specifics would translate to India, but here in the
U.S., I found this book a good collection of recommendations:

[http://www.amazon.com/Yes-You-Can-Financial-
Life/dp/14019112...](http://www.amazon.com/Yes-You-Can-Financial-
Life/dp/1401911250/)

