Living in metropolitan cities in India has become exorbitantly pricey, especially for families of four. The rent for a decent-sized apartment can easily gobble up a big chunk of the monthly budget, leaving little for other expenses. And school fees? They’re soaring too. Basic living expenses like groceries, transportation, and healthcare are also shooting up, putting a heavy strain on family finances. If one doesn’t plan their finances and stick to it, they’re doomed.
For example, Pritesh Kakani, an IIT Kharagpur alumnus, made an entire list of monthly expenses for a 4-member family living in a metropolitan city in India. The total yearly cost comes down to Rs 20 lakh. This includes Rs 35,000 monthly rent, Rs 10,000 for food expenses, Rs 5350 for petrol, Rs 8000 for medical expenses, electricity and gas for Rs 1000, etc.
Have a look:
It’s safe to say that a lot of the expenses listed here are minimal and can easily go up to a higher amount in a metropolitan city.
Have a look at Pritesh’s post here:
Family of 4 Expense in Metro city in India is 20 lakh per year. No luxury expense added. Details are as follows: pic.twitter.com/eAXmVS0j2O
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Several people took to the comments section to debate the entire list but Pritesh had some very strong arguments in return which made a lot of sense. For example, while clothing and footwear expenses can count as “luxury”, having a personal mode of transport in metro cities nowadays is a necessity.
Have a look at some of the responses here:
Look at number of clothes/ footwear female has. Look at how costly wedding wear/ saree is.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
1 trip in year is necessity, 1.5 lakh min expense even for Indian trip, 1 car for family of 4 in metro is necessity, 10 lakh Rs is min cost of car india. Dog expense is just 6K Rs per year.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Yes. 😁 I have written deliberately much lesser than required.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Exactly. I havent even counted wedding expenses, gold making charges or education loans.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Branded Makeup products cost a lot. Beauty Parlors/ Beauticians in wedding charge a lot. 15k is needed because I have to audit f&o sheet.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Yes. Home EMI , society maintaince and electricity expense is much higher than written.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Great. Owning home and owning car itself a big expense.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
2 kids, Tuition fee for 1 = 1 lakh , 50K transport expense, 50K extra tuition/ extra curricular fee,So 4 lakh is normal.
— Pritesh Kakani (@pritesh_kakani) April 15, 2024
Funny how everyone thinks 2,00,000 for car is too much, if we take 7lakh loan on car for 5 years, emi is around 15k pm i.e. 1,80,000. Leave aside the insurance and maintenance part.
For those saying a car is a want, it is a necessity if you have family according to me. pic.twitter.com/lVNmTM9EbL— Vishal Choudhari (@VShallChoudhari) April 14, 2024
Yes, I know. I have deliberately written less.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Car is necessity in Indian metro cities. Dog expenses are just 6K every year , ignore it. Owning home is long process, one cannot postpone car for it.
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
This feels like like juggling with coins on a tightrope, where every step feels like a financial balancing act.