Metro Myth? IIT Alumnus Sparks Debate with ₹20 Lakh Family Expense Breakdown

New Delhi: It has become difficult to afford a high standard of living in midst of rising inflation and rising cost of living. The situation is more adverse when it come to afford a living at a metro city. A person has to pay for a exorbitant process of property, school fees and sky rocketing prices of goods and services and huge prices of food. Paying for all this in a metro city burn a big hole in a common man's pocket. 

Are you thinking of shifting to a metropolitan city with your family and confused how will you manage your expenses. Well, recently an IIT Kharagpur alumni shared details plan of expenses estimates of 4-member family living in metropolitan city. This expense book may help in managing and deciding you expenses.

The post of the IIT Kharagpur's alumni has sparked a debate on the social media. 

While sharing a screenshot of his plan with expenditures, he said, “Middle-class family of 4 Expense in Metro city in India is 20 lakh per year for a comfortable life. No luxury expense added.”

As per Pritesh Kakani, the total yearly cost for a family boils down to ₹ 20 lakh. In his post, he disintegrated the costs incurred, from the highest to the lowest expense ranging from house rent, travel, healthcare, education, electronics, grooming etc. This included ₹ 35,000 monthly rent, ₹ 10,000 for food expenses, ₹ 5350 for petrol, ₹ 8000 for medical expenses, electricity and gas for ₹ 1000, etc.

''You are bang on. It is the minimum, I guess,'' one user said.

Another user said, ''A lot of the expenses can be categorized as luxury here e.g. Asia Trip, Dog, CAR EMI of 2L etc.''

''We live in a metro city i.e. Mumbai. Family of 4 on yearly money of seven lakh, including everything. I don't have a car. It depends on what you choose. I can say spending 20L per year covers a luxurious life, contradicting your tweet," said a third. 

Meanwhile, many agreed with his view and called it a practical estimate, some said that ₹20 lakh a year amounts to living a life of luxury.