"₹2 lakh salary also not enough": 27-year-old techie asks Reddit for brutally honest advice as EMIs pile up

A 27-year-old IT professional has sparked debate on Reddit after revealing that despite earning ₹2 lakh per month, he is struggling financially and living paycheck to paycheck.

In a post titled "Earning ₹2L/month but drowning in debt, need advice," the user shared that although his income appears comfortable, mounting expenses have left him overwhelmed.



"On paper, I should be financially comfortable, but honestly, I feel stuck and don't know the best way to recover," he wrote.

Major Life Events Led to Financial Stress

The techie explained that several big life changes in a short span contributed to his situation.

"Over the last year, a lot happened all at once. I got married. Some unavoidable family situations and commitments required significant financial support," he said.

He also relocated to a new city with his wife, which led to high setup costs including rent, furniture, and deposits.

Single Income Adds Pressure

The financial strain worsened after his wife lost her job, leaving the household dependent on one income.

"Setting up a completely new home from scratch (rent, furniture, appliances, kitchen, deposits, etc.) cost much more than we expected," he wrote.

Loans and EMIs Piling Up

Sharing his financial breakdown, the Redditor said he owes ₹20 lakh to a relative and pays ₹25,000 monthly. He also has a personal loan EMI of about ₹25,000 and credit card EMIs totalling ₹30,000 per month, which are expected to end soon.

Additionally, he has taken a loan against mutual funds, leaving him with limited liquidity and no emergency savings.

"I know I made mistakes. I relied on EMIs because there were too many expenses hitting at the same time," he admitted.

Looking for a Way Out

"If you were in my position, what would your recovery plan look like over the next 2-3 years?" he asked, adding, "Please be brutally honest. I'm not looking for sympathy or validation."

Reddit Users Suggest Solutions

Users responded with practical advice, including increasing income and building savings.

"Pick up freelance work, use most part of that money to first build emergency fund and then pay off the loan," one user suggested.

Disclaimer: This article is based on a user-generated post on Reddit. ET.com has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of ET.com. Reader discretion is advised.