Asking because some friends earn ₹40,000 and seem happy, while others earning ₹2 L still say they're struggling. I can't tell if it's about lifestyle, city, or if such a number even exists now. My friend in Delhi says you need at least ₹1.5 L, a buddy in Bangalore says ₹2 L because rent alone is ₹35 k, and my cousin in Indore manages with ₹60 k and even owns a car. Is it always relative or is there a real threshold?
Some people are terrible at managing money; even ₹4 L per month won't be enough for them. I began my career at ₹25 k per month in a Tier-1 city, never overspent and saved ₹2 k each month. By the grace of God I'm in a better spot now.
It's always relative because it depends on personal needs, location, whether you own a house or rent, lifestyle choices, and family wealth.
It's subjective. When I earned ₹10 k I felt on top of the world because I had no responsibilities. Now I earn five times that, but it still feels like peanuts. Life's like that, bro.
It depends on many things - your age, family liabilities (parents, partner, kids), education and market demand, aspirations, housing situation (own, rent, gated community, etc.), and the city you live in. There's no fixed answer. One person can feel rich as Uncle Scrooge with ₹1.5 L per month, while another can struggle even on ₹3 L.
Can we define "not feeling broke"? Does it mean you're not living paycheck-to-paycheck and have disposable income? Does it mean you can afford a more premium lifestyle? Does it mean you could retire early by 40? Depending on how you define it, the number can vary a lot.
That's true for many. I've seen friends get promotions and salary hikes, then they start taking EMIs of around ₹20 k a month on a ₹45 k salary. Lifestyle inflation is real - they feel miserable by the 22nd day of the month, with no money left even for food.
To keep it simple, look at what percentage of your salary goes to expenses. If you keep it around 50 %, you're comfortable. At 70-80 % any unexpected cost can bite. It really depends on your spending. When I first started, my expenses were ₹12-14 k on a ₹30 k income, which worked then. With my current expenses, that wouldn't be possible.
I started at ₹22 k back in 2017 and now earn ₹1.3 L. I was happy then and I'm happy now, just for different reasons. Back then I was single, had no money worries, lots of friends and parties. Now I'm happily married, have a caring wife, some savings, and enjoy a slower life with plenty of fun. Your definition of happiness changes over time - it's all about being content with what you want at each stage.
Nothing is ever truly enough; there's always a bigger fish to fry. Learn to be at peace with not having everything - it takes you a long way.
You stop feeling broke only when your wants and needs are as low as possible and your income, whatever it is, is more than sufficient.