Rs 1 lakh salary, but only Rs 20,000 left: 25-year-old’s money struggle goes viral

Sharing details of his monthly expenses, the Reddit user wrote that Rs 25,000 goes towards his car loan, while another Rs 25,000 is spent on rent and Rs 6,000 on an insurance premium.

“Out of my 1 lakh salary, Rs 56,000 is gone within the first three-four days of the month,” he wrote.

He said he spends another Rs 10,000 on food, Rs 5,000 on petrol and at least Rs 3,000 on utilities.

“Thanks to all of this, by the end of the month, I have only Rs 20,000 saved,” he said.

The professional said that despite working around 10 hours a day and sometimes on weekends, he had managed to save only Rs 1.2 lakh over the previous six months.

“For the last six months, after working so hard for 10 hours each and every day and sometimes even on weekends, I have saved up Rs 1,20,000,” he wrote.

Adding to his financial responsibilities, he said his father has an outstanding loan of Rs 8 lakh, which he feels responsible for helping repay.

“My dad has Rs 8 lakhs of loan that I need to help repay. I have not been helping him because I myself have very little money saved,” he said.

The Reddit user also expressed concerns about job security and the financial consequences of losing his income.

“Every month I see my salary being sent to bank account, I feel bad. I am spending my 20s working all day every day and even on weekends sometimes just to save Rs 2 lakhs over the course of a whole year,” he wrote.

With five years remaining before he turns 30, he said he hopes to save Rs 2 lakh every year and eventually help clear his father's debt.

“Just five years left in my 20s. If I save this Rs 2 lakhs every year, then I can pay off my father's loans by the time I become 30 years old,” he said.

The post sparked a discussion on Reddit, with several users questioning his decision to take on a car loan of Rs 25,000 a month on a Rs 1 lakh salary.

“The question is, why did you buy a car which washes away 1/4th of your salary every month?” one user commented.

Another Reddit user wrote: “It's a self-made problem. I bought a second-hand car for Rs 2.75 lakhs when my rent was Rs 17k. An EMI of Rs 25k, equal to rent, is crazy.”