Is Rs 30 LPA Considered 'Poor' in Bengaluru? A Techie's Perspective
Are people earning Rs 30 LPA in Bengaluru ‘poor’? Techie has a new take: ‘My friends earning close to 70-80k per month sleeps peacefully...’
The Economic TimesImage: The Economic Times
A tech professional in Bengaluru argues that earning ₹30 lakh per annum (approximately $36,000 USD) is not enough to live comfortably due to high living costs and extravagant spending habits. He emphasizes that true financial well-being depends on distinguishing between needs and wants.
- 01A techie claims that ₹30 LPA is considered 'poor' by Bengaluru standards.
- 02High living costs in Bengaluru are exacerbated by luxury spending.
- 03Living comfortably is possible on a modest salary of ₹70-80K per month.
- 04Financial well-being is linked to understanding needs versus wants.
- 05One user shares his budget-friendly lifestyle without loans.
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In Bengaluru, often referred to as India's Silicon Valley, the cost of living has led to discussions about what constitutes a comfortable salary. A tech professional recently shared on social media that earning ₹30 lakh per annum (approximately $36,000 USD) is becoming synonymous with being 'poor' in the city. He attributes this perception to the tendency of many to overspend on luxuries, such as expensive gadgets and lavish living arrangements, rather than focusing on essential needs. The individual pointed out that some of his friends, who earn a modest ₹70,000 to ₹80,000 per month, manage to live comfortably without falling into debt traps. They prioritize their spending, opting for a more sustainable lifestyle. For instance, one user mentioned living in a decent apartment with a rent of ₹25,000 per month and maintaining a monthly expenditure of ₹75,000 to ₹80,000, which includes children's education. This perspective highlights the importance of financial literacy and prudent spending in achieving a quality life in an expensive city like Bengaluru.
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Understanding the cost of living in Bengaluru can help residents manage their finances better and make informed spending decisions.
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