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Although not T1 here
I have 5 simple rules.
1. Spend on your family. Kal ho na ho.
2. Spend on yourself. It will help you go a longer distance.
3. Spend on your GF/ BF/SO. Your social life will be shit. If your SO leaves, chances are your next relationship will be you settling for someone less than ideal in your office or an arranged marriage.
4. Work brings sufficient misery. Being miserly to only double the misery will make life hell.
5. Ignore unsolicited financial advice. There's too much of it being marketed around. Find your own balance between saving, spending & happiness.
Remember.
You were not born & raised on a chicken farm for someone else to enjoy when your time's up.
1. Resist the urge to splurge. You're earning well and you're within rights to want to indulge a bit, and you should do so, but cap it at 15% of your monthly income at most.
2. Focus on loan repayment. Interest is a bitch, so clear that out first. Don't fall into moh maya of invest invest invest that everyone's peddling these days. There will come a time for that, but not as an A0.
3. Save. Always have a rainy day fund. Even if it's just 5-7k a month, set aside some funds. If you're in a Tier 1, you can comfortably save a lot more than that.
5. Spend. Spend on things that make your life easier. Get a nice pair of shoes, get a decent budget phone, good wifi etc. If you don't spend on making life easier, you'll start hating how you earn money through blood and sweat and all of it goes to loans.
6. Budget. Use a budgeting app, set a strict limit on expenses and do not spend a penny more than your budget unless it's an emergency.
So save save save.
Don't fall for the law firm "lifestyle" (much easier in WFH). Don't splurge. If you like the law firm job and stick around after year 3, you can start spending your money then.