What should be the monthly income for a family of 4 to survive

General
25

i think 3 lacs is needed for a family of 4 in a metro for upper middle class lifestyle.

26

For that look for GDP per capita (PPP). You will get an idea if the standard of living is improving or not

27

Yeah thats where the anomaly comes from. Percapita is around Rs9000 per month

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28

Means 36000 per month for a family of four. 65% of the population lives in villages.
I think 36000 pm should be sufficient to survive in rural areas

29

3 lakhs per annum in metro wont be sufficient. Did you consider kids education too?

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30

It’s more or less correct only. The range would be from 8k to max 20k.

  • they don’t have car, they only have one bike and that bike is mostly splendor

  • since they don’t have car, their rent wouldn’t be 10k+ . Less petrol expense

  • they are habituated to use public transport. Trains for majority

  • no insurance, bare minimum pre paid mobile sim plan. They are dependent on rations and don’t buy over priced groceries packed in fancy covers.

  • they don’t eat out. (Well honestly who can eat out everyday tolerate outside food)

  • kids study in govt corporation school. Dunno how much they charge . Frankly they are not bothered about education.

Some have air conditioner and some don’t but all of them have TV which is pretty weird.

Well frankly majority of expenses are food and rent. It’s insane how much you can save if you simply cooked at house and ate (not to mention healthy too ) and rent can be cheap if you don’t have a big car and can live cheap neighborhoods.

Bonus:- usually the man of the house is a big tax payer… I mean alcoholic in most cases

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31

with 8 % inflation everything would cost 2.15x in 10 years.

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32

Won’t there be an increase in our salary?

33

I thought he is talking about 3 lakh monthly. To maintain upper middle class lifestyle in a metro, you need that much

34

Has your salary doubled in last 10 years?

35

Untitled1
Yes.

37

The mind of a non salaried person is always refreshing and different.

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38

yeah- makes sense.

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39

35-40k.

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40

The very purpose of this query was for you to ascertain how much you need to contribute to a family so that they will be out of poverty. After reading all the comments and contribution from others - Is this still your objective or has it changed.

Truly do not understand the intention of your query after reading the below - Getting out of this discussion…

41

The purpose is to find out how much a family needs, i think its reasonable to fix between 35 to 40k. One of my friend has lost his business & slipping into poverty.

On the why they have gone into poverty - loss of job, loss of business, change in macros etc is a research in motion. I am not planning to conclude that research anytime soon.

Will keep the spirits high !

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43

3 lac per month in expenses? How?

45

That’s one heck of a lifestyle, 10 lac per month.

46

I think he realized his answer is not relevant to the question :slightly_smiling_face:

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48

Alrught @Ankit_Jain3 hypothetically speaking what would you spend 3 lacs every month on?