Reality Check: Even Rs 1.5 lakh+ salary not enough to cover family expenses in Indian metros? IITian's post goes viral
Kakani took to the platform X to share a breakdown of expenses for a family of four, emphasizing that the figure of Rs 20 lakh annually was devoid of any luxury expenses. His post, accompanied by a screenshot of an Excel sheet detailing monthly and yearly expenditures, quickly gained traction, garnering over 8.3 lakh views since its posting on April 14.
According to Kakani's breakdown, annual rent or EMI accounts for Rs 4,20,000, while school fees for a child amount to Rs 4,00,000. Additionally, food expenses are estimated at Rs 1,20,000, with travel costs pegged at Rs 1,50,000 for a trip within Asia or anywhere in India, among other expenditures.
The online discussion ensued with various individuals expressing divergent opinions on the matter. While some echoed Kakani's stance, affirming that Rs 20 lakh was indeed a realistic estimate for sustaining a family in a metro city, others vehemently opposed it.
IIT alumnus shares six key tips for sure shot success in JEE entrance exams: Check if you are preparing right
One user concurred with Kakani, asserting, «You are bang on. It is the minimum, I guess.»
Conversely, dissenting voices challenged Kakani's claims, questioning the inclusion of certain expenses deemed non-essential. «I never knew dogs and cars were necessities. If you don’t own a home, you should not buy a car on EMI. Personal Finance 101,» remarked one user.
Responding to the critique, Kakani defended his position, stating, «Car is a necessity in Indian metro cities. Dog expenses
