Latest news with #MeenalGoel
India.com
24-07-2025
- Business
- India.com
The Rs 78,000 Salary, Rs 8,000 Savings Shock: Why Cant A Good Salary Sustain A Family In Chennai? Know Shocking Story
The financial realities of raising children in India's metropolitan cities are becoming increasingly stark, as highlighted by a Chennai couple's candid admission on Reddit: despite a combined monthly income of Rs 78,000 after taxes, they struggle to save more than a meager Rs 8,000. Their story paints a vivid picture of the immense financial commitment modern parenting demands, even for seemingly moderate earners. The couple, who are raising an 8.5-month-old infant in Chennai, pinpoint their child-related expenses as the primary drain on their finances. Their largest outgoings are rent and daycare, totaling Rs 46,500 per month. They emphasized their unwillingness to compromise on these costs, prioritizing their child's safety, hygiene, and proximity to care facilities over accumulating savings. Beyond these significant fixed costs, their monthly budget includes Rs 10,000 for groceries and daily essentials, Rs 8,500 for travel (petrol, auto, metro), and Rs 3,000 specifically for baby diapers. Utilities like electricity and cooking gas add another Rs 2,000 to their expenses. With total monthly outgoings reaching Rs 70,000, they are left with a precarious Rs 8,000, which serves as their sole buffer for savings and emergencies. Adding to their financial pressure, the couple revealed they receive no family support due to their marriage being against their relatives' wishes. This lack of a backup system has pushed the wife to seek part-time employment to supplement their income and provide more financial breathing room. The Mounting Cost Of Raising A Child In Urban India Their experience echoes broader concerns about the escalating costs of parenthood in Indian cities. Meenal Goel, a Bengaluru-based startup founder, recently highlighted this issue on LinkedIn, estimating the total cost of raising a single child in an average Indian middle-class household, from birth through college, to be between Rs 38 lakh and Rs 45 lakh. Goel's detailed breakdown of expenses by life stage reveals the significant financial demands: Infancy to Preschool (Ages 0-5): This period is particularly costly, estimated at ₹7 lakh to ₹8 lakh. Major expenses include medical costs (delivery, hospital care: ₹1.5 lakh-₹2.5 lakh), immunizations (₹30,000-₹50,000), and essential baby products like clothing, food, and diapers (up to ₹3 lakh). Playschool and daycare facilities average around ₹2.5 lakh. School Years (Ages 6-17): Education becomes the dominant expense, totaling approximately ₹17 lakh. Annual school fees alone can accumulate to ₹12 lakh, supplemented by ₹3 lakh for private tuition and coaching. Other costs like uniforms, electronics, books, and extracurricular activities add another ₹2 lakh. Higher Education (Ages 18-22): College education at a private institution typically costs around ₹10 lakh, with an additional ₹3 lakh for hostel accommodation, meals, and general living expenses, bringing this stage's total to approximately ₹13 lakh. Postponing Parenthood: A Growing Trend The staggering financial implications are now a genuine concern influencing family planning decisions across urban India. Goel observed that many prospective parents are postponing or reconsidering having children, feeling unprepared to meet these steep expenses. A 2023 analysis by Mint further underscored the heavy financial burden on urban Indian families. For instance, a Mumbai family with an 8-year-old boy reportedly spends ₹1.72 lakh annually on tuition alone, plus ₹2,000 monthly for after-school activities, and ₹10,000-₹12,000 annually on healthcare. A Bengaluru family with two young boys faces ₹80,000 annually for the older child's education and nearly ₹1.8 lakh on car and fuel expenses. Even a relatively more affordable city like Indore sees schooling costs close to ₹1.5 lakh per year. The financial strain often begins even before birth, with a Caesarean delivery potentially costing ₹1 lakh, projected to rise to nearly ₹3.7 lakh in a decade. Early immunizations for a child in their first 18 months can range from ₹60,000 to ₹80,000. These figures illustrate a raw and realistic picture: raising a child in urban India, even with what appears to be a decent salary, often involves tight budgeting, significant sacrifices, and a constant struggle for financial stability, leading many couples to rethink their family planning in 2025.
News18
24-07-2025
- Business
- News18
Chennai Couple Spends Rs 70,000 A Month To Raise Baby. Here's How Much They Save
Last Updated: The couple, who earn ₹78,000 per month, spend ₹46,500 on rent and daycare alone. Managing finances while raising a child can be incredibly challenging, especially with a limited income and no additional support. A Chennai-based couple recently shared how they navigate their monthly expenses while caring for their 8.5-month-old baby on a combined income of ₹78,000. They revealed that they made a conscious decision to rent a safe home located close to a reputable daycare for their daughter. As a result, they spend ₹46,500 each month on rent and daycare alone. Despite the steep cost, the couple believes these essentials are non-negotiable when it comes to their child's safety and well-being. In a now-deleted Reddit post, the couple said, 'We are a couple living in Chennai with a combined monthly income of Rs 78,000 (after tax). We have an 8.5-month-old baby, and we've chosen a good daycare and a safe rental house very close to it. We chose them with utmost care because our baby is very small and we want to ensure safety, cleanliness, and proximity." After spending most of their monthly income on rent and daycare, they then use around Rs 10,000 for food, including groceries, fruits, vegetables and milk. They spend Rs 8,500 on travel, which includes auto rides, metro and petrol. Baby diapers cost them another Rs 3,000. For electricity and gas, they pay Rs 1,000 each. All these regular expenses cost Rs 70,000 every month. This leaves them with just Rs 8,000 at the end, which they try to keep aside for savings or any emergency. The couple shared that they don't get any help from their families as they got married without their approval. Now, the wife is trying to find part-time or online work that she can do from home. She only has one free hour each day, so she is looking for something that fits into that time frame. In another such example, Meenal Goel, a startup founder from Bengaluru, spoke about how expensive it has become to raise a child in Indian cities. She said that the total cost of raising a child in today's time can go up to Rs 45 lakh. Meenal pointed out that many parents are finding it hard to handle added expenses, especially in metro cities where everything, from school fees to basic daily needs, costs more than before. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
22-07-2025
- Business
- Economic Times
‘No family support, only Rs 8,000 left': High-earning Chennai couple reveals why they have almost nothing to save each month
How Expensive Is It to Raise a Child in India? Much More Than Expected Infancy to Preschool (Ages 0 to 5) School Years (Ages 6 to 17) Higher Education (Ages 18 to 22) Combined Cost of Raising a Child Rethinking Parenthood in 2025 Parenting in India, especially in a metropolitan city like Chennai, comes with more than just sleepless nights and emotional responsibilities—it also demands an immense financial commitment. One couple recently opened up on Reddit about the financial strain they've been navigating while raising their infant in the city, giving a candid glimpse into the economic reality of modern couple, who reside in Chennai, bring home a combined monthly income of Rs 78,000 after taxes. Despite this moderate earning, they struggle to set aside even a modest Rs 8,000 in savings each month. The primary reason for their limited financial cushion is the significant expenditure involved in raising their 8.5-month-old have chosen a rental property that is located close to the daycare facility they trust. These two—rent and daycare—form the largest chunk of their expenses, totaling Rs 46,500 monthly. The pair emphasized that they aren't willing to compromise on these costs, having prioritized their child's safety, hygiene, and proximity over these major fixed expenses, their monthly budget also includes Rs 10,000 for groceries and daily essentials like fruits, vegetables, and milk. Travel costs add up to Rs 8,500 per month, which includes expenses for petrol, auto rides, and metro travel. Diapers for the baby require an additional Rs 3,000. Essential utilities—such as electricity and cooking gas—cost them another Rs 2,000, with Rs 1,000 spent on each, their monthly outgoings stand at ₹70,000. This leaves them with only Rs 8,000, which they attempt to use for both savings and any unexpected situations that may arise. They acknowledged that this limited amount is the only buffer they have in case of emergencies, reflecting how precarious their financial situation truly add to the pressure, the couple also shared that they do not have support from their families, as their marriage was against their relatives' wishes. With no backup system in place, they are trying to become entirely self-reliant. In light of this, the wife has started seeking part-time employment to supplement their income and help create more breathing room in their monthly story paints a raw and realistic picture of how raising a child in urban India, even on a seemingly decent salary, often involves tight budgeting, sacrifices, and a constant struggle to maintain financial a recent post on LinkedIn, Meenal Goel, a startup founder based in Bengaluru, shared her concerns about the rising expenses of parenthood in Indian cities. She highlighted that the financial demands of raising a child in today's urban India are significantly high, estimating that the overall cost hovers around ₹45 explained that many prospective parents are hesitant to start a family because they simply cannot manage the expenses involved. One such couple she met candidly shared their anxiety about becoming parents due to the financial load. Intrigued by their statement, Meenal decided to break down the actual numbers and analyze the complete cost structure of raising a child in India in early years of a child's life are particularly heavy on the pocket. Medical costs such as delivery and hospital care range between ₹1.5 lakh and ₹2.5 lakh. Immunizations during this stage require an additional ₹30,000 to ₹50,000. Essential baby products such as clothing, baby food, strollers, toys, and diapers can add up to ₹3 lakh. Playschool and daycare costs average around ₹2.5 for this stage: ₹7 to ₹8 lakhThis period involves significant educational and co-curricular investments. Annual school fees over this duration can accumulate to approximately ₹12 lakh. Additional academic support in the form of private tuition and coaching amounts to ₹3 lakh. Expenses related to school uniforms, electronic devices, books, and extracurricular activities like sports or music can reach ₹2 for this phase: ₹17 lakhCollege life adds its own share of expenses. Studying in a private college typically costs about ₹10 lakh. Including hostel accommodation, meals, and general living expenses, the total shoots up by another ₹3 for this stage: ₹13 lakhTaking all phases into account—from birth through college—the total amount required to raise a single child in an average Indian middle-class household stands between ₹38 lakh and ₹45 such high financial implications, monetary stability has become a genuine concern influencing family planning. Many couples now find themselves postponing or reconsidering the decision to have children purely because they feel unprepared to meet these steep expenses, revealed Goel.
India Today
16-07-2025
- Business
- India Today
Are private school fees draining India's middle class? CA shares eye-opening figures
In the current educational climate in India, the rising costs of private schooling are prompting many to reconsider the value they offer. "Stop sending your kids to private school," urges CA Meenal Goel, highlighting a growing sentiment among parents burdened by exorbitant education in India is no longer just about learning, it has quietly turned into a heavy expense that eats up a huge chunk of a family's income. advertisementWHAT DO SCHOOL FEES REALLY LOOK LIKE?If you are a parent, you probably know the numbers, but seeing them together is still shocking. She further writes on LinkedIn, 'Here's what school fees really look like: Admission charges: Rs 35,000, Tuition fee: Rs 1.4L, Annual charges: Rs 38,000, Transport: Rs 44–73K, Books and uniform: Rs 20–30K.' Add it all together, and the yearly cost for one child easily comes to Rs 2.5 to Rs 3.5 lakh. In bigger cities, reputed schools can charge over Rs 4 lakh a year per child, while even mid-level schools now cost around Rs 1 lakh to Rs 1.5 lakh, says COSTS VS AVERAGE INCOMEThis financial strain is further amplified when compared to India's average annual income of Rs 4.4 lakh. Private school fees, averaging between Rs 2 lakh and Rs 4 lakh a year, represent 40% to 80% of a single parent's income."We talk about healthcare inflation, but education inflation is the silent middle-class killer," Goel says. Many families silently cut down on other expenses, dip into savings, take loans or sacrifice comforts, all to pay school fees. For many, good schooling has become a luxury that they feel they cannot IT TIME TO RETHINK?More parents are now asking, 'Is private school really worth it?' Should they explore affordable schools, government schools or alternative learning options?As fees keep rising every year, the pressure on parents will only increase. Maybe it is time to pause, calculate, and decide what we are really paying for? And is there a better way to secure our children's future without drowning in school bills?- Ends
Time of India
16-07-2025
- Business
- Time of India
‘A luxury they must buy': CA calls school fees the silent killer of India's middle class
A chartered accountant's viral post has ignited a debate about the soaring costs of private education in India, labeling it a "silent middle-class killer." With annual fees ranging from ₹2 to ₹4 lakh, families are increasingly resorting to loans and lifestyle adjustments to afford schooling. Tired of too many ads? Remove Ads Admission charges : ₹35,000 : ₹35,000 Tuition fees : ₹1.4 lakh : ₹1.4 lakh Annual charges : ₹38,000 : ₹38,000 Transport : ₹44,000–₹73,000 : ₹44,000–₹73,000 Books & uniforms: ₹20,000–₹30,000 Tired of too many ads? Remove Ads ₹2,000 registration ₹40,000 admission charges ₹5,000 refundable caution money ₹2.52 lakh annual tuition ₹1.08 lakh transport ₹20,000 for books and uniforms A chartered accountant has sparked a debate online by calling education the 'silent middle-class killer,' highlighting how schooling has turned into a luxury that families are now forced to buy—often through a viral LinkedIn post, CA Meenal Goel detailed how education costs have spiraled to the point where fintech startups are now offering EMIs for school fees."Stop sending your kids to private school. Probably, this is what you'll say after reading the statistics," Goel down the numbers, she explained:This totalsper child in many private schools. For mid-tier schools, she said the cost may range from ₹1–1.5 lakh, while elite institutions can charge up to ₹4 lakh annually.'School fees have officially entered the loan-worthy expense category,' she noted, adding that fintech companies have stepped in with education EMIs to cater to struggling the annual income with the school fees, she wrote while the average income of Indian middle class families is Rs 4.4 lakh/year, private school fee is about Rs 2–4 lakh/year.'That's 40–80% of one parent's income—just for school. Not even college yet,' she emphasized.'We talk about healthcare inflation, but education inflation is the silent middle-class killer. Families quietly adjust, take loans, or downgrade lifestyle, because school is now a luxury they must buy,' she this year, a similar post by entrepreneur Rishabh Jain also went viral. Jain shared how he was asked to pay ₹4.27 lakh for his daughter's admission into Grade 1 at a private school. The breakup included:A 2022 ET Online report estimated that the total cost of schooling a child in a private school in India from age 3 to 17 could amount to ₹30 lakh.
