- NRI returning to Bengaluru after 15 years seeks help on budget realism online
- Monthly in-hand salary is Rs 4.6 lakh with major expenses including rent and mortgage
- Rent for 3-4 BHK flat expected between Rs 70,000 to Rs 90,000 per month
An NRI returning to India after 15 years asked social media for help budgeting in Bengaluru. In a post titled "Is my budget realistic or am I way off base?", they shared details of a new job based in North Bengaluru. The position offered a fixed annual pay of Rs 85 lakh which translated to a monthly in-hand salary of approximately Rs 4.6 lakh, sparking online discussion about the local cost of living.
"I want to know if my budget is accurate or if I have missed something major in my calculations. The location is North Bangalore," the user wrote in a Reddit post.
According to the NRI, rent would be their top expense back in India, costing Rs 70,000 to Rs 90,000 for a 3-4 BHK flat. Other monthly expenses include a Rs 35,000 villa mortgage, Rs 10,000 for utilities, and a car lease between Rs 25,000 and Rs 35,000. Domestic help takes Rs 25,000, school and activities consume Rs 20,000, while groceries and dining out demand Rs 30,000 each.
The NRI also parked Rs 40,000 for shopping and miscellaneous expenses while adding Rs 25,000 for travel funds and Rs 20,000 for the child's college savings.
"This budget leaves me with just over 1L for regular savings/investments. Is this a realistic or even a good budget?" the NRI questioned
"I am surprised that it costs almost 1.5L a month to just exist (rent + help + school + groceries). Am I way off base for Bangalore? Looking for insights to plan better."
Check The Post Here:
Is my budget realistic or am I way off base?
by u/drdessertlover in personalfinanceindia
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Social Media Reactions
As the post gained traction, social media users shared their perspectives on what they felt was a slightly inflated budget that needed trimming.
"Well, you're paying a hefty rent and a mortgage. That's driving up your expenses. Your shopping budget after groceries is also pretty high. Not saying you can't afford it, but that's not a typical lifestyle for the upper class, even," said one user, while another added: "20k for school and activities is low. Education is expensive here. You need to budget about 30k. The househelp and cook is on the higher side."
A third commented: "OP - quality help costs upwards of 15K - trained and can work independently. Cooks will cook and do dusting. In certain markets, cooks do not clean."
A fourth said: "As a ballpark estimate, keep 1 lakh per person per month to maintain an upper middle class lifestyle as you described. So with a family of 4, your salary of around 4 lakh per month will be sufficient to live comfortably."
