'Rs 20 lakh enough to survive?' IIT Kharagpur alumnus breaks down expenses for 4-member family in a metro city
Recently, a social media post by Pritesh Kakani, an IIT Kharagpur graduate, has sparked a heated discussion regarding the financial challenges faced by families residing in major Indian cities like Mumbai, Delhi, or Bangalore.
FollowFor many people, living in a large city is the ideal because of the better quality of life and abundance of employment options. However, because living in these places is more expensive, this lifestyle comes with a heavy price tag.
An Indian Institute of Technology (IIT) Kharagpur alumni recently generated debate on social media by posting a thorough breakdown of costs for a family of four living in a major Indian metropolis. According to Pritesh Kakani's computation, a family's annual spending, excluding luxury costs, might total up to Rs 20 lakh.
Sharing the list, he wrote, “Family of 4 Expense in Metro city in India is 20 lakh per year. No luxury expense added.”
Kakani's list included a number of areas, including housing, dining, travel, medical, schooling, and grooming. The rent, which is Rs 35,000 per month or Rs 4.2 lakh per year, is at the top of the list. Next comes the cost of food, which is Rs 10,000. The anticipated cost of eating out is Rs 4,000, while the cost of vacation is Rs 1.5 Lakh.
The estimated cost of petrol is Rs 5,350, while the annual medical expenses are Rs 8,000 or Rs 96,000. Gas and electricity together cost Rs 1,500 a month, while the monthly cost of local travel might be as high as Rs 2,000. School expenses are the highest, Rs 4 Lakh for the year.
Soon after his post went viral, it garnered mixed reactions. While some agreed with the valuation and called it realistic, others argued that Rs 20 lakh per year is an exaggerated figure.
One user expressed concern about the accuracy of the expense, particularly the cost of the car at Rs 2 lakhs and food at Rs 1.2 lakhs seemed questionable. Another criticized certain expenses, such as the cost of an Asia trip, a dog and car EMIs.
Since IIT Kharagpur alumni Pritesh Kakani shared the expanse list on X, it has gone viral and garnered over 1 million views.
