“I have to immediately worry about paying my car loan of 25000, rent of 25000 and monthly insurance premium of 6000. Out of my 1 lakh salary, 56000 is gone before the first 3-4 days of the month,” the user wrote.
The young professional said that over the last 6 months, they have just saved around Rs 1,20,000.
For many working professionals, getting paid at the end of the month brings a sense of accomplishment, but this user has shared what salary day means if you have EMIs and other responsibilities. “Sometimes I feel what’s the use of all of this. his slim savings prevent him from sending money home While he wishes to help his family clear the debt. He also highlighted the constant fear of job loss without a solid emergency fund. “If I lose my job, I will lose my car and I will be kicked from my rent house. “Every month I see my salary being sent to bank account, I feel bad. No need for a car. If safety is his priority, then he could have got a second-hand car with an EMI of about 10k. I don’t know why insurance is that high? If SIP, then understandable. People love to live their lives lavishly but also complain about savings. And the audacity to put it in Frugal sub!” a third user suggested.
Because my company doesn’t approve them,” the employee wrote, i can’t even take leave. Because i myself have very little money saved,” he wrote, i have not been helping him. “Then there are food costs of 10000, petrol of 5000, and utilities of 3000 at least. “Thanks to all of this, by the end of the month, I have only 20000 saved. The young professional added that they have worked hard for the last 6 months, but despite their efforts, they have saved only Rs 1,20,000. On top of high everyday expenses, he faces the pressure of an Rs 8 lakh loan taken out by his father. “My dad has an Rs 8 lakh loan that I need to help repay. I am spending my 20s working all day every day and even on weekends sometimes just to save 2 lakhs over the course of a whole year,” they said. “Just 5 years left in my 20s. If I save this 2 lakhs every year, then I can pay off my father’s loans by the time I become 30 years old. With thousands of views and nearly 300 upvotes, the post sparked a broad discussion online among young professionals facing similar urban living costs. “It’s a self-made problem; I bought a 2nd hand car of 2.75 lakhs when my rent was 17k. “He is 25, unmarried. PG could have saved him 10 to 15k.
“The question is, why did you buy a car which washes away 1/4th of your salary every month?” one user wrote in the comment section. An EMI of 25k equal to rent is crazy,” another user said.
