What is your monthly expenses in India? I recently calculated my monthly expenses. 1. Home loan = 80,000/- 2. Car loan = 25,000/- 3. House help = 15,000/- 4. Swiggy/Zomato =30,000/- 5. Blinkit/Zepto = 30,000/- 6. Ele/Internet/LPG/Petrol = 25,000/- 7. House Maintenance = 11,000/- 8. Grooming(Wife and I) = 10,000/- 9. Baby Expenses = 30,000/- .... Total: 2,61,000/- INR. Shopping/Travel/Home decor/ pet/ Movie/ Club/ gym membership/ netflix = 1,00,000/- Total after shopping = 3,61,000/- After calculating it I was blown away and realised where the hell my hard earned money is going. TC- 1.6Cr Yoe- 9 Age - 31 Male House wife - 0 Tc, but she is care of our new born. What is your expenditure in India? #indiasalary #Amazon #faang #lifestyle
Wtf, why you here Mr. Ambani. If itās true, please watch out, this doesnāt seem sustainable. What will you do incase you lose out on your job for long. Also why do babies cost 30k. Also swiggy, you order 1k a day everyday?
I know expenses have gone north since we had our new born. We are buying stuff for the baby every month. Cradle, cloths, mamaearth baby products, other bay supplies.
Yes swiggy we can minimise! We host house party for family and friends and yes we are foodies. We can definitely cut down on this expense for sure and blinkit also. I have recently developed a habit of order everything on that.
Random number generator.
No these are real numbers.
Err what?? Wtf, car loan 25k? Grooming 10k? Club at 31 years? Gym? Things are not adding up. Are you SDM?
Misc (shopping / decor / gym etc) seems high. Home loan or rent is unavoidable though can be reduced a bit. Car loan can be prepaid. If you reduce / remove some of the above expenses, it averages to 70k per month (excluding home loan / rent) per capita. Not out of the ordinary for 1 Cr+ TC. You have 3 people in the household and that, along with the misc spend, are the key drivers for the total monthly expenses.
Yes we can for sure remove swiggy and other expenses. You are right car loan can be prepaid too. But we have planned to keep it going for next 2 years.
Your saving + investment rate is still at a healthy 50%+ so I donāt see a major cause for worry. One year of your post income tax savings + investment will give you at least a year of financial runway in case of job loss (assuming no change in expenses).
OP lifestyle is inflated. House help + basic groceries= food, maybe weekly/monthly you can buy something but avoid other than that. House maintenance - 11k is too much, consider moving if possible. Car loan- Pay off completely, interest is high Swiggy/blinkit - you know already. Grooming- 10k, again high.(5.5k maybe?) Baby Expenses - One time expenses could shoot it up, look at yearly expenses, one shot the one time expenses with a good buy and try to reduce recurring expenses which dont give much value. 30k is income for some people, I am certain a normal baby does not need this much. Cut down on home decor completely, shopping and travel only as much as necessary. OP is subject to lifestyle inflation, although this TC can justify this spending, however loans could have been avoided at this TC as well.
Actually this calculation is making sense and yes swiggy thing needs to come down but apart from that everything looks normal. But try to clear that car loan by part pre payments as tenure or principal can come down. Iām now thinking how can I achieve your TC as Iām not onto Software side and my TC is 11L and just left Amazon. š«”
I think you need to budget and plan, I feel you have random expenses you need to cutback on. Also, 60L car on a 1.6 TC seems unwise. It should've been in 20-30L budget range. Just my opinion, you might have your reasons. Also, your entertainment expenses seem too much for a month too. You really need to look at Swiggy, Zepto and entertainment expenses. You probably have 2x the expenses your peer group has. (Our combined TC is 1.2Cr and I'm sharing with that perspective) I also see you do not have vacation expenses planned here, like once in a year international travel or electronic purchases. I'm guessing that's another 6L a year. What is your retirement corpus looking like? And what is your baby's graduation corpus looking like?
I hope to have ur TC someday and be able to afford all this first then maybe do 70% of it. But I am not as capable so would have to look for working wife to get to this TC. Anyway, if your TC was lower then even u wouldnāt have spent as much. How much ā¹ gets credited monthly if youāre ok to share?
to OP
Fuck expenses, i just wants to say congratulations š¤
Yes sir! We are planning to cut down Swiggy and Blinkit. They are sucking our hard earned money.