Suggestions regarding financials
My wife and I (34M) are preparing for a potential shift to a single income. She is on maternity leave until July, if she isn't granted WFH, she will resign by Jan and the end date will be March 2027.
I earn ₹1.4L–₹1.6L and handle all expenses, including a ₹43k home loan and ₹19k SIP + 10k sip to my wife's mutual fund account.
After transfers and bills, I have a ₹55k–₹60k surplus, of which ₹40k is sent to her account for short-term goals/emergency fund. My wife earns ₹99k, 30k sent to her family, a ₹40k RD for loan prepayments/emergency fund (we try to pay 2-3 additional emi yearly) and SIPs of 5k. We have ₹7L–₹8L in an emergency fund FD.
Is it wise to buy a car this November (₹3L down, ₹15k EMI) given the possible income drop in March? This is the only short term goal I have this year.
Also, should I divert my ₹40k surplus into Debt or Equity MFs.
Please let me know if there are any other suggestions to manage finance better.
Also get 20k from rental income but since it's parents property, I transfer that to an RD for them.