Mumbai Couple Says City 'Too Expensive To Live' Despite Earning Rs 2.2 Lakh Monthly

A Mumbai couple has revealed that they were barely saving any money living in a 1BHK flat in Mumbai, despite earning Rs 2.2 lakh per month cumulatively. In a social media post titled, "Mumbai is too expensive to live," the couple sought the internet's help in managing their budget and questioned how people were surviving and saving money.

"Me and my partner collectively make 2.2 lakh pm. We stay in a 1BHK, far from our respective parental homes and are barely saving any money. Help would be appreciated in helping us budget," the user wrote in a Reddit post.

The couple provided a detailed breakdown of their monthly expenses, noting that the largest portion of their income goes toward rent at Rs 44,000. While groceries cost Rs 20,000 and their maid's salary takes Rs 8,000, travel and electricity require roughly Rs 5,000 to Rs 6,000 each. Additionally, the couple said they invested Rs 60,000 monthly into a Systematic Investment Plan (SIP) but also spent Rs 12,000 to Rs 13,000 on mandatory office social events.

"Ideally after this, we should have approx 60k towards more savings. However, we constantly find ourselves without any money as the month closes," the couple highlighted.

"Some days it's clothes for me, other days it's for her, then a watch, maybe a perfume. But more than this, visiting our hometown - 45k in one trip is gone! That's towards the basic expenses of travelling, on top of it stuff for parents and expenses there."

The couple said they feared that their spending habits would not be sustainable in the long run especially when they decided to have children.

Check The Viral Post Here:

Mumbai is too expensive to live.
by u/Happy_MaybeNot in personalfinanceindia

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'Is This Ragebait?

As the post went viral, social media users were quick to point out that SIP investments are ultimately savings. If funding those investments meant struggling to pay for daily essentials, it was time to reduce the SIP amount.

"If you can't catalogue the remaining 60k, very hard to say what to reduce. If you are spending on expensive watches and perfumes every alternate month, no one can save you," said one user, while another added: "Honestly, sounds more like a spending problem. A fair part of SIPs are your savings dude. Cut SIPs if you are unable to manage your basic necessities."

A third commented: "Classic spending problem. The term for you is Urban Poor. What's this obligatory 15k spending on office parties? Rubbish. Cut it. Don't order expensive drinks or food. Be on budget. 28k as a household is also quite a bit. Easily cut it down by 10k."

A fourth said: "Is this some sort of rage bait post? The 60k in SIP is savings, dude, and it's a good amount. If you want to increase it, rein in the 12-13k spending; that's too much for regular parties. Look into tax-advantaged saving tools like ppf, health insurance funds."