Salary Rs 2.2 lakh, but zero savings! You will be shocked after seeing the budget of this Mumbai couple.

There is a story on social media about a couple from Mumbai, after reading which everyone is stunned. The monthly income of this couple is Rs 2.2 lakh, but the surprising thing is that by the end of the month, their bank account becomes completely empty. The couple shared their problem on the Reddit community named Personal Finance India, after which a new debate has erupted on the internet. People are surprised to think that how can someone face financial crisis even after having such a good salary. Where is all this money going? Let’s see the monthly budget of this couple.
This couple has given honest details of their expenses. In an expensive city like Mumbai, the rent of a 1 BHK flat is Rs 44,000. Every month they invest Rs 60,000 in mutual fund SIP without thinking. Rs 20,000 is spent on household ration and groceries, while Rs 8,000 is spent on maid and household chores. The bill for electricity, water and gas together comes to around Rs 3,000 to Rs 4,000. It costs Rs 10,000 to 12,000 for the couple to travel to the office. Whereas Rs 12,000 to Rs 13,000 is spent on hangouts and social life with friends and colleagues.
So this is the real villain?
All the above expenses are fine, but the attention of netizens was drawn to the amount which is flowing like water without any planning. This couple spends Rs 54,000 to Rs 58,000 every month only on expensive shopping, branded perfumes, clothes and sudden trips. Apart from this, whenever they have to go to their hometown, because the leave is approved at the last moment, they book expensive flights, the one-time expense of which comes up to Rs 45,000.
As soon as this post went viral, social media users took the couple to task and called it a classic case of increasing unnecessary expenses even as their earnings increased. Netizens gave the couple some great Also gave advice. People said that this couple first spends openly, and then thinks that they will save whatever is left later, whereas the rule should be the opposite. People advised that instead of buying expensive tickets at the last moment, create a travel fund and keep putting something in it every month.
Netizens said that it is good that the couple is investing Rs 60 thousand in SIP, but they do not have any emergency fund. That’s why they feel stressed every month. People advised to save some part of SIP and first create an emergency fund of Rs 3 lakh. Also said that the couple needs some discipline and curb unnecessary shopping.

Mumbai is too expensive to live.
by
u/Happy_MaybeNot in
personal finance india

Disclaimer: This news is based on viral social media posts and reactions of netizens. TV9 Bharatvarsha does not independently verify the authenticity of any claims made in this post.