Personal Finance Community

by ImpureFund28

3 months ago

High costs of Living. Anyone feeling the pressure?

Me and my spouse in total are earning 6 Lakh a month pre-tax, but inspite of that there is too much pressure on finances. I am just amazed with the cost of living. Rents, School fees, EMIs, Taxes are just eating away all the income. I am barely left with 1 lakh at end of month. This saving is not enough for any emergency. Recently my family faced with medical emergency and I am still recovering with the debt it created. Company covered health insurance denied the claim on certain grounds and we were f**c***. It looks so pretty from outside, but honestly I am frustrated even with this package in hand. Is anyone else feeling the pressure, or I am just bad at managing finances?

Dekisugi

Salesforce

3 months ago

Reduce your expenses. I know people living peacefully for less that 1/6 of your pretax family income. So the problem is with you. Why live such lifestyle when you cry about it.

uncleCharlie

Oracle

3 months ago

one should have medical insurance other than the company one. IMO people are living a decent life by making half of 6L, looks you need to manage your finances carefully

B4Consultant

3 months ago

Pls do elaborate on your nature of expenses too. I mean EMIs for what? I mean I can a buy 40 lakhs car on EMI and cry about it. So you do need to introspect I feel

ImpureFund28

Onlinesales

3 months ago

Home loan, and basic car.

B4Consultant

3 months ago

Home loan is a bigger chunk, i guess?

ak098g87

Stealth

3 months ago

back in my company from 1st June mass firing was going on and later on this week, Monday I along with 5 others got laid off. No reasons were given why this is going on. I feel, these startups and few MNCs don't give a f*c* about their employees. Their whole aspect is kaam nikalwao kaise bhi fir nikalo inhe.

3xPlusOne

Google

3 months ago

Name and shame the company here

PerfumedSled

Stealth

3 months ago

Your situation also highlights the need to be prudent while selecting any kind of insurance

Bumrah

HCL

3 months ago

Try leaving your job for 2-3 months, so that you can learn something about financial discipline!!

Soumil_Gupta73663

Student

3 months ago

If you are looking for the consultancy for investments then I work in a company where our founder who has 20+ years experience in the banking sector provides consultancy as per your needs.....for more help we can have a chat....do let me know please if you are interested in it. We provide both online and offline meetings with the consultant. Thank you

TepidLilac0

TCS

3 months ago

Both are earning and 6L a month before tax is decent amount to survive. You need to manage your expenses. 6L yearly are also able to survive properly. Question from you is like a joke as compared to we other with less wage

ModestGlockenspiel

Stealth

3 months ago

It is recommended to have a personal health insurance as well in addition to your corporate health insurance. We have covered the reasons for the same here: https://www.linkedin.com/posts/simpleinsure_why-your-corporate-health-insurance-might-activity-7208432815888093184-7XrS?

Skylar

Stealth

3 months ago

Reduce your expenses. Pay off the loan as early as possible

ACNShark

Accenture

3 months ago

Highly literate, financially illiterate. I hope you are talking about India and not states. Unless and until you are doing drugs, you can live far better life with 6L per month.

PerfumedSled

Stealth

3 months ago

The question is do you have a financial plan? Are you making your financial decisions right? This is a complex situation and perhaps we can talk about it. You can drop me a message