People struggling financially even after earning good chunks of money. Why?

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  1. High cost of living: The cost of living in urban areas of India can be very high. This includes expenses such as housing, transportation, food, education, and healthcare, which can quickly add up and leave little disposable income.
  2. Debt: Many Indian families take on significant debt, such as home loans, car loans, and personal loans. High-interest rates and the long-term nature of these loans can make them difficult to pay off and may limit the family's ability to save and invest.
  3. Lack of financial planning: Some families may not have a clear financial plan in place, which can make it difficult to manage money effectively. This includes budgeting, saving, investing, and managing debt.
  4. Family obligations: Many Indian families have a strong tradition of supporting extended family members. This can include providing financial assistance to parents, siblings, and other relatives, which can limit the couple's ability to save and invest for their own future.
  5. Lifestyle inflation: As incomes rise, many couples may increase their spending on luxury items such as cars, vacations, and expensive gadgets. This can make it difficult to save and invest for the long term.

Overall, managing finances can be a complex and challenging task, and there are many factors that can contribute to financial struggles. It is important for couples to take a proactive approach to financial planning, budgeting, and saving to ensure long-term financial stability

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