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A couple earning Rs 1.7 lakh per month shocked Reddit after revealing they save only Rs 2,520 monthly due to hefty loan repayments, sparking a debate on debt and finances
A couple in their early 30s reveal that a monthly household income of Rs 1.7 lakh is not enough to save meaningfully (Image-AI)
A now viral Reddit post shared by a couple married in their early 30s has triggered a debate on personal finance after they revealed that despite earning a combined monthly income of Rs 1.7 lakh, they are able to save only Rs 2520 each month.
The couple shared their financial situation in a post titled “Earning 1.7L, living paycheck to paycheck, mentally exhausted, need actionable input,” explaining how mounting loan repayments and day-to-day expenses have left them struggling to build savings for future goals.
According to the post, the pair began tracking their finances recently and were surprised by the reality of their financial position. While their combined income appears comfortable on paper, they discovered that a significant portion of their earnings is consumed by debt obligations and regular household expenses.
“We are in our early 30’s, got married 2 years ago, we started tracking our finances and we got a reality check soon enough,” the Redditor wrote.
The user expressed concerns about major life milestones, including buying a house, planning for children, creating an emergency fund and preparing for retirement. “Where do I even start fixing this? How do we plan for a house? When to plan for kids? How to save for emergencies? When do we save for retirement? Our finances will be better after 2 years but it feels like the time is running out on us,” he added.
The couple’s monthly income consists of Rs 1.02 lakh earned by the husband and Rs 68,000 earned by his wife, bringing their total household income to Rs 1.7 lakh.
However, the biggest strain on their finances comes from loan repayments. Their monthly EMI burden totals Rs 85,980. This includes a personal loan repayment of Rs 70,154, an education loan EMI of Rs 3,000, a bike loan EMI of Rs 12,000 and a phone loan installment of Rs 826.
The Redditor later clarified that the personal loan originated from debt accumulated by his parents. According to the post, his parents had borrowed money from local lenders at a steep 18 percent interest rate and eventually fell behind on payments.
To manage the situation, the debt was consolidated into a Rs 30 lakh personal loan carrying a 13 percent interest rate, which is scheduled to run until 2028.
In addition to EMIs, the couple spends Rs 53,500 every month on fixed expenses, including rent, maintenance charges, electricity bills, groceries, travel costs, medical expenses, internet services and phone bills. They have also allocated Rs 28,000 towards personal spending, leisure activities, dining out, travel and family-related emergencies.
After accounting for all expenses and loan repayments, only Rs 2,520 remains each month, leaving the couple worried about their financial future.
The post quickly gained attention online, with many Reddit users offering suggestions and opinions on how the couple could improve their financial situation.
One user wrote, “Ur spending is not the problem . Ur loans are the real villian here. Untill and unless u close atleast Personal loan u can’t save more. I will suggest wait for 4 months till ur bike loan gets over. After that with 12k prepay ur personal loan fast.”
Another commented, “Phone Loan was unnecessary – Could have cut down personal spending for 3-4 months and you would have had 20,000 for the phone. At this point, you’ve to reduce your variable expenses.
Whatever extra money you are saving needs to go towards the EMIs to close them ASAP. Phone -> Bike -> Education. You’ll free up 16,000 free cash monthly. Put that towards Personal Loan to reduce the number of months. You need roughly 10 Lakhs for a kid. From pregnancy to delivery to initial 6-9 months of infancy.”
A third user suggested focusing on increasing income, writing, “There is only one way to fix your condition. Switch company for higher ctc. Believe me that’s the only way. If you both are in IT and early 30’s , you both are underpaid. You gave you context, i am 28 single earning 1.75 l after taxes. Your ctc should be 4-5 times your year of experience . I repeat increasing income is the only way.”
Another person pointed to the personal loan as the core issue and said, “What is that persoal loan for ? It’s eating up a big chunk of your potential savings. There doesn’t seem to be much you can cut down TBH. Best case scenario is you cut down your variable expenses by atleast half and put that towards paying off your personal loan. Next option is to find a higher paying job and stop buying everything on loan.”
Some users also advised the couple to postpone major life decisions until their finances improved. One commenter wrote, “I just came here to comment one thing. Please don’t have a baby before solving this massacre. Just coz family puts pressure or anything.”
Meanwhile, another suggested reducing housing costs and exploring cheaper borrowing options, writing, “I would say save on rent. Shift to something like 15k temporarily. Till you loans get over like phone , bike and education. If you got any gold take gold loan and pay your local lender.
Take gold loan from any cooperative Bank Thier intrest rate is significantly lower then local lender and pay him off. And if you are farmer then you no need to worry about compounding interest.”
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