Employee Earns Rs. 1 Lakh Per Month, Struggles to Save Beyond Rs. 20,000; Netizens Advice
A user has shared that they earned Rs. 1,00,000 but isn’t even able to save beyond Rs. 20,000. The post is going viral and many are highlighting the expenses, inflation and changing lifestyle.
Recently, a 25 years old employee said that salary day now serves as a reminder of increasing financial needs and excessive living expenses. In a Reddit post, the user disclosed that he struggles to save Rs. 20,000 every month after paying for his needs and obligations, despite earning a monthly salary of Rs. 100,000.
“I have to immediately worry about paying for my car loan of Rs. 25000, rent of Rs. 25000 and monthly insurance premium of Rs. 6000. Out of my Rs. 1 lakh salary, Rs. 56000 is gone before the first 3-4 days of the month. Then there are food costs of Rs. 10000, petrol costs at least Rs. 5000 and utilities of at least Rs. 3000. Thanks to all of this, by the end of the month, I have only Rs. 20000 saved,” the user wrote.
Despite their greatest efforts, they only managed to save Rs. 20,000, according to the young professional, who also said they have been working hard for the past six months. They are under pressure from a Rs. 8 lakh loan taken out by his father, in addition to significant daily costs. Despite his desire to assist his family in paying off their debt, his meager funds stop him from doing so.
Tomorrow is salary day, but…
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u/scarlett_decoction in
Frugal_Ind
“Sometimes I feel what’s the use of all of this. I can’t even take leave because my company doesn’t approve them. My dad has a Rs. 8 lakh loan that I need to help repay. I have not been helping him because I myself have very little money saved. If I lose my job, I will lose my car and I will be kicked from my rental house. Every month I see my salary being sent to a bank account, I feel bad,” the user said.
“I am spending my 20s working all day every day and even on weekends, sometimes just to save Rs. 2 lakhs over the course of a whole year. Just 5 years left in my 20s. If I save these 2 lakhs every year, then I can pay off my father’s loans by the time I become 30 years old,” the user said further.
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