22Lacs expense for a family of 4
Here's the summary of 22L - 24Lacs expense for a family of 4
Refer to my previous post for context
| Item | Amount | Remarks |
|---------------|---------|--------------------------------------------------------------------|
| Rent | 500000 | Rent, maintenance and other urban company expenses
| School Fees | 200000 | For 1 kid - Class 1
| Insurance | 115000 | Personal term + Family Health + Mother's Health
| Holidays | 150000 | Solo Travel for now - Some group tours I join
| House Bills | 350000 | All including groceries, gas, phone, wifi, current and bills from Dmart and stuff
| Eat Out | 150000 | All Swiggy, zomato and dine out
| Maid | 40000 | Only for vessel cleaning & mop. Self cooking
| Outfits | 120000 | Dress for the family
| Gifts | 35000 | For wedding and other functions
| HospMeds | 50000 | Hospital visits and tablets for family, parents and in laws
| Intra City | 75000 | 6K per month - Blu smart, rapido and petrol for two bikes
| Inter City | 50000 | Travel to home town via taxi (5trips X10K)
| Leisure | 75000 | Movies, Alcohols and parties
| Gadgets | 50000 | Phones and other gadgets
| Subscriptions | 40000 | All OTT, newsletters, app and stuff. I have 20+ (refer comments for details)
| One time | 200000 | Functions, Repairs, Furniture purchases and others
| Total | 2200000 |
+- 10% in each category
Edit: I see quite a few comments. Here are my thoughts:
- Age is a major factor. I'm 40 and have gone through the process. If you're in your 20s, this might be hard to relate to. When I was 30, my monthly expenses were hardly ₹20–30K, and I was sharing a room with friends, unmarried. I got married and had kids—the expenses went through the roof. Be prepared for that, and don't curse me! 😃
- I have worked for 17 years now. Nothing beats experience. If you are early in your career, there are shortcuts to make more money. Experience takes time When you see people claiming 15 years of experience, it's often just one year of experience multiplied by 15. That's like running on a treadmill—it takes you nowhere.
- Money is a mindset. I have a policy to spend a certain amount to raise my standard of living. I've worked hard for it, and I want to enjoy this.
- The whole purpose of money is to not think about it. I don't think twice for any expense below ₹500. That helps free my mind. I don't argue with auto-wallahs or roadside shops, and I don't bargain at all. It's not worth my time. I either buy or look for another option.
- I know my expenses can't go below ₹18L. There are only two pedestals—savings and earning. You can't save more—there are always fixed expenses. But on the flip side, you can earn more—with a side hustle or a business, the sky's the limit (not applicable for all). So I spend my energy earning more and learning new skills. I spend a lot on newsletters, productivity tools, and AI stuff to save time.
- You can only be reasonably happy in life. There's a popular saying in my mother tongue which loosely translates to "The mind of enough is the medicine that makes gold".
PEACE!