A Bengaluru-based techie with a monthly take-home salary of Rs 3.5 lakh has sparked an online debate after revealing he struggles to save more than Rs 50,000. He shared a detailed breakdown of his expenses on Reddit, including hefty loan EMIs and childcare costs, expressing concern over his financial future despite his high income.
A Bengaluru-based techie has sparked a heated online debate after claiming that even a hefty monthly take-home salary of Rs 3.5 lakh isn’t enough to build meaningful savings. The 34-year-old professional disclosed that he finds it difficult to save more than Rs 50,000 each month after covering all of his bills.
The 34-year-old expressed his worries on Reddit, saying that as rising home bills continue to reduce his income, he is becoming more and more concerned about his financial future.
The software expert stated in his post that he and his four-year-old twin girls reside in Bengaluru. Although his yearly remuneration package is Rs 96 lakh, he noted that around Rs 35 lakh of it is tied up in employee stock ownership plans (ESOPs) from a startup and cannot be regarded as dependable revenue.
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“34M, a regular tech guy living with my 4 year old twin daughters in Bangalore. My CTC is ₹96L, with ₹3.5 LPM base post tax, and the remaining ₹35L are ESOPs, which I am not counting since it is a startup," he wrote.
According to the techie, his monthly savings range between Rs 45,000 and Rs 50,000, which he says is insufficient given his wages and future financial commitments. He also shared a full analysis of his monthly spending. The greatest outlay is an EMI of Rs 80,000 for a property loan. He has already paid off the debt for six years and has around ten years of repayments remaining. In addition, he pays Rs 30,000 per month on a car loan, with around Rs 10 lakh still owed.
Childcare fees account for another big chunk of his spending. He pays Rs 40,000 for a babysitter for his twin girls and an additional Rs 50,000 for preschool and nursery expenditures. Additional ongoing costs include Rs 6,000 for a chef and maid, Rs 20,000 for food, Rs 8,000 for protein supplements and gym memberships, Rs 15,000 for utilities and domestic necessities, and around Rs 40,000 for travel, outdoor activities, and visits to relatives and in-laws.
The Reddit user also said that he now has a net worth of about Rs 3 crore. However, he asserted that because he can only add between Rs 4 lakh and Rs 5 lakh a year, it has stayed essentially stable for the past few years. He commented that the situation has left him psychologically worn out and concerned about possible job instability, expressing his dissatisfaction.
How Did Social Media React?
One user was skeptical and commented, “Inflated figures and illogical figures, meant to garner attention. This has high chances of ending up at some news website as a clickbait article some days from now."
Another user appeared more interested in understanding Reddit itself, writing, “Bro can somebody please explain me what karma points do in reddit account as well as I have seen people begging to comment on their posts and upvotes what is it for?😅"
Several users examined the expense breakdown in detail. One commenter questioned the childcare spending and asked, “Is your wife earning too? If not then what’s the need for daycare for kids? Family and inlaws visits/ travel/outdoor visits: ~₹40k – This is a lot for a month."
