Rs 2.5 lakh monthly income, still Bengaluru man fell into a 'debt trap': One common money management mistake costed him 95% savings

A good salary does not always mean a person is financially secure. Big family expenses, loans and the habit of putting regular spending on a credit card can quickly eat into years of savings. A 29-year-old Bengaluru man is now learning this after two major expenses left him with almost no savings despite a combined monthly income of ₹2.5 lakh after taxes.

The married man shared his situation on Reddit, saying he had spent almost 95% of his savings on his wedding and a major house renovation. He now has a personal loan, a car loan and credit card bills to deal with, while also supporting his parents financially.

The financial burden

The first major expense was the family home. The man's parents wanted him to add another floor to the house so it could later be rented out.


The work cost around ₹35 lakh. He paid ₹15 lakh from his savings and borrowed another ₹20 lakh to complete it.

The wedding soon added another major expense. He said it cost more than ₹30 lakh, with the money coming largely from selling his stocks. He was still short of cash towards the end and took a ₹5 lakh personal loan at an interest rate of 9.1%.

He already had a car loan, with around ₹3 lakh still pending.

The situation became more difficult because his credit card spending was also not coming down. His parents are dependent on him and use his credit card for groceries and other household needs.

The man later admitted, “I hated taking loans and i really thought i would be able to handle but the reality has hit me now.”

Where the ₹2.5 lakh monthly income goes

The couple's combined post-tax income is ₹2.5 lakh a month. The man listed several regular expenses that take up a significant part of that income.

The house EMI is ₹35,000, while the personal loan costs ₹16,000 a month and the car loan another ₹15,000. Rent in Bengaluru, including bills, comes to around ₹37,000.

His average credit card spending is the biggest expense at ₹70,000 a month. Groceries cost another ₹15,000. He spends ₹4,000 on eating out and ₹2,000 on leisure activities such as movies.

He is also putting ₹15,000 into SIPs every month.

The man said he does not party and does not eat out often. He is also considering changing jobs to improve his cash flow, although that is still a work in progress.

At present, he has around ₹3 lakh in stocks and ₹1 lakh in an FD. He also has 50 sovereigns of gold, which he says he cannot touch.

Reddit users say the credit card needs to stop

Many commenters felt that the situation was serious but still manageable because of the family's income. Their main concern was the continued credit card spending.

One user advised him, “Stop using credit cards for anything you can't pay in full next month.”

Another suggested blocking the card temporarily and giving his parents money directly instead of allowing their expenses to continue building up on the card.

A commenter also suggested a simple rule for controlling credit card spending: do not charge something unless the same amount is already available in the bank account.

The advice was to first clear the credit card debt, then focus on the personal loan. Some users also suggested temporarily stopping the SIP and using that money to deal with the outstanding debt.

Why an emergency fund matters now

Several Reddit users also pointed out that the family needs to start building an emergency fund once the immediate debt problem is under control.

The concern is that another unexpected expense could push the family into taking yet another loan. One commenter suggested keeping enough money aside to deal with the next emergency rather than putting every available rupee into investments or repayments.

There was also discussion around the role of family pressure in major financial decisions. Some users questioned why parents should dictate a person's finances, while others pointed out that weddings in India often involve expectations from parents and relatives.

The original poster later clarified that he works for Oracle and said the wedding was not lavish from his perspective.

“Things were beyond my control and it wasnt a lavish wedding at all. It was very basic but it costed that much,” he wrote.