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Bengaluru man, 23, says he's earning ₹1 lakh a month but still feels 'clueless': 'I think I'm lagging'
A 23-year-old Bengaluru consultant earning over ₹1 lakh a month says he still feels “clueless” about money.
A 23-year-old Bengaluru consultant earning over ₹1 lakh a month has sparked a discussion online after admitting he still feels “clueless” about his finances despite drawing what many consider a high salary for his age.
In the post, titled “23M - Earning 1L+ pm, yet clueless,” the user shared that he takes home ₹1.03 lakh after PF and has been investing ₹15,000 to ₹20,000 a month for the past four years. He lives in Bengaluru in a PG accommodation and spends about ₹35,000 monthly on living costs, excluding investments and occasional big-ticket outlays.
“Although I completely agree that I'm in a much better position than my peers, there's still a lot of things that I wanna achieve financially and in my career as well,” the user wrote.
The Redditor further shared that he has zero assets, no generational wealth or debt. “The plan was to hit the 2L rs mark in my savings account and then focus more on investing my money somewhere rather than keeping it parked in my SB as emergency fund. I've reached the mark in Sep, further my salary shall be increased by 6% from the upcoming payroll in October,” he wrote.
But despite all this, he wrote that he feels he is “lagging behind” because he has no assets and is unsure how to scale his finances further. He also mentioned upcoming expenses - a ₹3.5 lakh bike purchase and around ₹40,000 to ₹1 lakh in dental costs - which have added to his hesitation about investing more aggressively.
“What are some things that I need to change.. I think I'm lagging behind in terms of finances.. How can I maximize my 6 figure earning,” the user concluded.
(Also Read: Bengaluru woman shares why she regrets not moving abroad: 'I'll leave in a heartbeat if I get another opportunity')
Social media reactions
The post has struck a chord online, with many users sharing emergency fund strategies and asset building.
“Youre doing just fine man. Make that investment figure 20%+ and make sure to increase it with each hike in your salary. Plan an emergency fund. Beyond that invest in yourself- spend on a healthy diet, fitness regime, travel. Don't fall into the blackhole of shitty swiggy food that most do at your age,” one user wrote.
“Before you buy a bike, please get your emergency funds and Life/Health insurance sorted. Keep a chunk of money aside for investing or just start an SIP once you're done w the above things. Then save and get a bike. The bike can come a bit late and that won't hurt,” suggested another.
“Plan to have atleast 60L in savings excluding PF by 28, its achievable for you. This is my personal advice dont take too seriously,” advised a third user.
