A 27-year-old IT professional has sparked discussion online after sharing how a series of major life events left him burdened with debt despite earning Rs 2 lakh a month. Posting on Reddit under the username lonewolf_2298, the married software professional explained that he expected to be financially comfortable with his salary. Instead, he said he has been living paycheque to paycheque and is now looking for practical advice on rebuilding his finances.
According to the post, several expensive commitments happened within a short period. These included getting married, providing financial support to family members during unavoidable circumstances, and relocating with his wife to another city around eight or nine months ago.
The couple had to set up a new home from scratch, covering rent, security deposits, furniture, appliances, kitchen essentials and other household expenses. The situation became more difficult after his wife lost her job, leaving the household dependent on a single income.
The Reddit user detailed his current financial position. He said he has borrowed Rs 20 lakh from a relative and is paying Rs 25,000 every month. He also has a personal loan with a monthly repayment of around Rs 25,000. In addition, he is paying about Rs 30,000 each month towards credit card EMIs, although these repayments are expected to end within the next two months.
Earning ₹2L/month but drowning in debt, need advice
by u/lonewolf_2298 in FinancialAdviceIndia
He also revealed that mutual funds worth around Rs 6 lakh have been pledged to secure a loan of approximately Rs 2.2 lakh. At present, he has almost no cash savings and no emergency fund.
Despite admitting that relying on EMIs had been a mistake, the IT professional said the multiple financial pressures arrived at the same time, making it difficult to avoid borrowing. He expressed hope that the end of the credit card EMIs would provide some financial relief.
Seeking guidance from the Reddit community, he asked how others would approach recovering from his financial situation over the next two to three years. He also made it clear that he was not looking for sympathy but for practical advice from people with experience in managing debt and rebuilding financial stability.
The post attracted attention as many users discussed budgeting, debt repayment strategies and the importance of maintaining an emergency fund, highlighting that even individuals with relatively high incomes can face financial stress when major life expenses occur together.
(Disclaimer: This story is based on a viral post shared on Reddit. NDTV has not independently verified the claims made in the post and is not associated with the content.)
