M22 | Started my first software job (₹1.5 LPM) | ₹1.2L joining bonus | Need guidance on managing money

​

Hey everyone!

I'm 22 and recently started my first software engineering job with a salary of ₹1.5 LPM (pre-tax). I'll also be receiving a ₹1.2 lakh joining bonus soon.

A bit about my situation:

- I'll be staying in a PG with total expenses around 25-30k

- I'm planning to buy a scooty for commuting (thinking of something reliable and comfortable).

- I don't have any major financial responsibilities right now.

Since this is my first salary, I don't want to make expensive mistakes.

I would really appreciate advice on:

1. How should I split my monthly salary? (Savings, investments, emergency fund, expenses, etc.)

2. What should I do with the ₹1.2L joining bonus?

3. Is buying a new scooty a good decision, or should I consider a used one?

4. Which investments should I start with as a beginner? (Mutual funds, ETFs, PPF, NPS, etc.)

5. Any credit card or banking tips for someone just starting their career?

6. What financial mistakes do you wish you had avoided in your early 20s?

Any other advice for someone starting their career would be greatly appreciated. Thanks!