'Rs 1.7L Salary, Rs 90,000 EMIs, 0 Savings': A Financial Reality Check For Young Professionals | Savings and Investments News - News18
Many young professionals in India earning around ₹1.7 lakh per month are facing a financial crunch due to rising EMIs, high living costs, and lifestyle expenses. Despite impressive salaries, most end up with little or no savings each month. Financial experts reveal that the problem lies in poor money management and over-dependence on credit. Big city living, rent, and consumer loans further strain budgets, leaving little room for investments or emergencies. Experts suggest building an emergency fund, controlling discretionary expenses, and planning long-term financial goals. With better budgeting and smarter spending habits, professionals can strike a balance between aspirations and financial stability. The article highlights the growing need for financial awareness among young earners to avoid falling into debt traps and ensure future security through disciplined saving and investment strategies.
The Key points
- Many young professionals earn ₹1.7 lakh monthly but save little.
- High EMIs consume up to ₹90,000 of monthly income.
- Urban living costs worsen financial pressure.
- Overspending on lifestyle and credit card use is common.
- Lack of budgeting leads to financial imbalance.
- Experts urge creating emergency funds.
- Investment in SIPs and insurance is advised.
- Avoiding unnecessary loans improves stability.
- Financial planning helps manage rising expenses.
- Smart spending habits ensure long-term wealth growth.
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