Techie earning ₹2 lakh a month says he’s ‘drowning in debt’, seeks advice on Reddit
A 27-year-old techie has sparked a discussion on Reddit after revealing that despite earning ₹2 lakh a month, he is “drowning in debt” and living paycheck to paycheck.A techie admitted that he has almost no cash left in his bank account and no emergency fund. (Representational image/Gemini AI generated)In a post titled “Earning ₹2L/month but drowning in debt, need advice,” the IT professional shared that he is married and takes home ₹2 lakh a month – an income many would consider financially comfortable. However, he said that a series of major life events over the past year left him struggling with debt.”On paper, I should be financially comfortable, but honestly, I feel stuck and don’t know the best way to recover,” he wrote.”Over the last year, a lot happened all at once. I got married. Some unavoidable family situations and commitments required significant financial support,” he added.The techie shared that around 8-9 months ago, he moved to another city with his wife. “Setting up a completely new home from scratch (rent, furniture, appliances, kitchen, deposits, etc.) cost much more than we expected,” he wrote, adding that the financial burden increased further after his wife recently lost her job, leaving the household dependent on a single income.Sharing a breakdown of his finances, the Redditor said he has borrowed ₹20 lakh from a relative and pays ₹25,000 a month towards it. He is also paying a personal loan with an EMI of around ₹25,000 and credit card EMIs totalling ₹30,000 a month, which are expected to end in the next 2 months. Additionally, he said that he has taken a loan of about ₹2.2 lakh against mutual funds worth around ₹6 lakh that are currently pledged.(Also Read:
