Living in the city has become so expensive that couples with high income and no kids are struggling with limited liquidity
Double income with no kids doesn’t guarantee you a comfortable life in MumbaI, says a couple. Pic/iStock
Prerna Gupta, 38, and her husband have put their international trip on the back-burner for a while. The couple, who have been married for 11 years, are battling an inflation rise while her husband’s pay hike barely registers.
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“When we got married I thought that by the time we reach 40 we will be retired and living in a farmhouse,” Gupta tells us over the phone, laughing at her own naivete. Gupta is a marketing professional working independently, while her husband is an investment banker who has the more stable income of the two. “We are living in a two-BHK because in case our parents want to come over we can always have a room for them. So that comes to Rs 67,000 in Chembur. I understand that someone might see us and think we have a lot of money; we do come from a place of privilege but the struggle is real,” adds Gupta.
The couple is the classic example of DINKS (double-income-no-kids) and say that from combine income of Rs 2.25-3 lakh per month they are left with only Rs 50,000 in hand that they can use for themselves. The only solace is an annual two-week road trip the couple takes with their dog.
“When we realised that the world trip is not going to happen soon, then decided that we will at least go for a two-week road trip once a year—but that is pretty much all we can afford right now. There are no small trips in the middle to let off some steam,” says Gupta.
As with anything that builds up over a while, one day there is an inevitable blast causing the couple to give vent to their stress and have a fight about almost nothing. “We have come to realise that we are having the same fight over our finances on a loop, and unlike other issues we are not reaching any resolution. As a result there is this uncomfortable unresolved thing at the back of our mind and it’s just a different kind of a strain than maybe other fights,” she says candidly.
Gupta says that contrary to the common misconception, she and her husband do not go to fancy dinners and parties. “I don’t even remember the last time I went to a fancy restaurant to eat; we are so busy, and when we have the money we prioritise other things. A fancy meal is Rs 10,000 at a good restaurant; it feels like we just can’t catch a break,” says Gupta.
Right now Gupta, who works from home, has been trying to upskill to an in-depth animal training course but sounds frustrated as it is not happening—again, due to the cost. “I have done smaller, shorter courses but it has been crazy to do the longer one because it requires a certain amount of money that I am just unable to scrape together. I hope… one day,” she says.
From one animal lover to another, we hope for that day!
Rs 10,000
Cost of a good meal at an upscale restaurant, which is a rare luxury for couples like the Guptas.
Costly comestibles
As of October, the consumer price index in India had climbed to a 14-month high of 5.81 per cent primarily due to a spike in vegetable and edible oil prices, according to the Ministry of Statistics and Programme Implementation (MoSPI).
Monthly Income
Rs 2.25 lakh to 3 lakh
The big expenses
RENT: Chembur, 2BHK
Rs 67,000
HELP:
Rs 15,500
GROCERIES:
Rs 20,000
Dog:
Rs 20,000
Electricity:
Rs 5,000-10,000
Other overheads include investments, policies, transport to work
Left in hand with
Rs 50,000
Experts Speak
Suresh Sadagopan
“I understand that living in Mumbai is more expensive than most other cities due to its real estate market,” says financial planner Suresh Sadagopan. “Rent is not cheap and buying is a life-long dream, but more often than not I find that most of us, when we get married, have a sort of larger-than-life goal of what we want to achieve, and sometimes we need to take a step back and reassess how we are really spending money. More often than not we do not understand how much we are spending because of UPI, and that’s why you must find a workaround to understand how much you have spent every day in order to control the controllables,” he adds.
Therapy talk
Dr Armaan Panday
Given the added strain of finances, what are couples saying in therapy?
Psychiatrist Dr Armaan Panday says, “Yes, there is financial strain—but it is not because couples aren’t making enough money. In this era of plenty and consumerism, financial goals are still a huge priority for almost everyone. Even though most of the clients I come across are financially secure, they worry about losing a job or not making more money. The pressure of expenses imposed by a modern urban lifestyle is generally the cause. Real financial strain, like any other life-situation, is a test of the couple’s resilience. Healthy couples navigate that by supporting each other. For example, one partner may take up a job or quit their job to help the other. Dysfunctional relationships deteriorate further with crisis. As a professional, I help couples repair their relationship with each other while they figure out ways to solve a financial problem. Often though, it is sufficient when a professional is able to give the couple a realistic idea about their financial well-being and adjust their financial goals and efforts to safeguard their mental health.”
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