{ "media_type": "text", "post_content": "How much should be the family income to raise 2 children very decently in a city like Pune?", "post_id": "6169da65b238bc00266c8c30", "reply_count": 19, "vote_count": 3, "bowl_id": "60f19b15fc523b002f774065", "bowl_name": "Tech India" }

How much should be the family income to raise 2 children very decently in a city like Pune?

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2 lakhs is gud enough, otherwise there is no upper end...and decent upbringing definition also differs for every individual..

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around 3.5 lack after taxes per month. Assuming a big furnished home in a very good area 35k. Grocery about 15-20k. Socializing and attending interesting events around city - approx 10k. Schooling - around 10k- 15k per kid in international school. Around 5k for best possible tution per kid. Maid - approx 3k monthly in very high maintenance society, otherwise you can get for around 800-2000 easily. General cost of electricity bill - around 1k to 1.5k depends on what you use. If ac is there then expect double otherwise given with heater and fridge. Gas costing around 1k per month. Fuel for car - expect anywhere around 5-8k. Good internet costs around max 2k but you can get cheap deals easily like 50mbps for 550 or 200mbps for 400 but only from big companies not from local providers. Local internet providers are troublesome though they cut wires very often. Weekend gateways around 20k with 2 days stays and highest quality food. All above are costs are considered with pretty high standard of living. I've friends who got good 1bhk for just 12k and some got 2bhk furnished for 18k as well. That totally depends on area. Rest all should be good amount of savings/investment for child and old age future plans. You can really live a decent life of punekar for way less than that though. I am born and brought up in Pune and to live a middle class life I would say around 1.5l per month is more than sufficient but depends on your quality of life. I myself make around 2.14l after taxes but since I came from middle class family I don't really spend that much and so my monthly expenses barely go beyond 7k as a single living with parents. Even if I opt out for living alone I bet I can get by easily with 30k per month max as I focus more on living and not on owning big assets like cars or ac.

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Great feed, learned a lot even for myself.

3 lacs per month

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At least 3.5-4 lakhs. Pune is an expensive city.

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@Amazon 3 what about future? Will you get pension? I suppose answer is No. So 4 lpa is good amount. Because you have to do early investments so you can have a stable oldage benifits. Today's 3-4 lack will be equivalent to 20-30k in future. So if you are just keeping your hopes on PF and EPS sorry to say but you are fucking up with your future. You will not be able to save enough to afford good education for children in future. My dad gets goverment pension and its not enough to get by in life because of depreciation of money over time. What 5000 ruppues today are compared to 20 years ago? You will end up finding many middle class people made that amount as salary in Pune and even less for many. Cost of things always increases so you need to account for that!! You working for someone is just a contract between you and employer. What after the contract ends? Lets say you draw 1.5L month and pay for education what do you end up with for investments? If you take home loan it will suck all your pay for atleast 6-10years. That means even if you get some good raise in between you will still be living on same salary for that amount of time. The real cost of living is calculated not on just how much you can afford but also on how much you can invest, how much you can take care of future, how much you can enjoy the life apart from work. For 1.5 you will still do 12-14 hrs a day at most of companies so what's the harm doing same work hours for 3-4 lack per month which builds you nice future? Also remember, as you grow old you will be outdated in terms of technologies. All these react, java, python will be gone in next 10 years. So doesn't it make sense to charge more since these technologies are limited? One can always learn new stuff but again its about whether you will learn or constantly think about bills and investments in future? I myself take a huge amount from company and invest all of it in real estate and other assets for a stable future. Because of the big paycheck I never have to worry about money running out and I can concentrate on work and learning new things. I can literally walk past balewadi highsteet area and buy home from my savings and put it on rent it because my high salary makes it affordable without loan(even with loan its max debt of 2 years). That becomes one more souce of income - passive income. That's exactly why you should ask for high salary - to generate more passive incomes which will provide you enough money in old age and does not depreciate over time and gives reliable good returns according to current currency value!!!

You can make do with 2.5 lakhs but I think you'd have to be in the 3.5-4.5 range to really be comfortable

3 lakhs should do, but of course more is always better.

I think 3-4 lakhs...but personally, I think you're truly comfortable at 5-6 per month. Whether that's actually realistic is different, but I feel like if I aim that high I'll land in the 3-4 range haha

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