I think it varies from person to person, depending on which city they live in, if they are married, if they have kids, if they have parents dependent on them, and most importantly, the lifestyle they are leading. Someone can earn 25 LPA and still manage their household expenses within 50,000 rupees a month. Someone might be broke at the end of the month, even at 25 LPA. It's all about the circumstances and the spending habits.
I am lucky enough to be able to save a major chunk of my salary because I have the flexibility to work from anywhere in India. So I chose to stay at my parental home with my parents and save on the rent. My lifestyle hasn't changed much over the years; it's just that we probably visit the movies a little more often, and we visit the restaurant or order food online more frequently. We take the flight instead of the train even for short journeys if we can save even an hour and travel more comfortably. Keep the AC switched on for longer durations. Basic things, but more frequently, and that’s basically the major changes that we have incorporated in our lifestyle.
I still buy clothes from Amazon, where I get a combo of three T-shirts for 1,000 rupees. I still use wired Earphones priced at 400–500 rupees. I still don't use an iPhone. I still don't wear branded shoes or luxury watches. I don't use public transport, I take an Uber or Ola, but I find buying a car a liability, and for someone who barely steps outside the house, I don't want to purchase a depreciating asset that will stay in my garage 25 out of 30 days of the month. I take care of the utility bill payments; our electricity bill comes to about 6 to 7 thousand rupees a month, thanks to Kolkata’s heat and humidity. We have very basic mobile and Wi-Fi plans, but almost all the OTTs. In short, I spend money where it is needed, but I don’t spend blindly.
So that allows me to save more than half my salary, which I invest in SIPs, PPF and other places. The only time I splurge is while going on trips. I have been going on long trips every 2 or 3 months and one weekend getaway once a month on average. We mostly stay at 4-star properties; not 5-star because I don't find too much of a difference (spending money judiciously and not for show-off).
I have been able to travel a lot and take my parents on these trips at times. It helps me to accomplish many dreams that I dreamt of as a child. There are plenty of things on my bucket list that I am yet to accomplish. Everything will happen when the right time comes. Yeah, life isn't always rosy. It's not a bed of roses. To get that paycheck, I have to work, sometimes extending my working hours, including weekends. Work pressure is there, plus the constant stress of upskilling and layoffs. So when it's time to work, I have to put all my focus into it and work hard. But once that's done, I know how to party harder!
0 Comments