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#FAMILY MONTHLY EXPENSES LIST HOW TO#

Specifically, banks will first identify your necessary regular spendings such as your bills and groceries.

Your living expenses are a good indication of your character as a potential borrower. When banks assess your ability to borrow, one of the major factors they evaluate is your spending compared to income. After reading this article, we hope you can predict the cost of living for middle-class families in India.Your details Why do banks care about my living expenses? We’ve covered all the monthly expenses of a middle-class family in India. Average middle-class families in India spend around Rs. But some families want to fulfill their dreams once in a while. Middle-class families have dreams and wishes, but most families need to sacrifice their dreams and desires for their needs and expenses. 1,500 per month to pay monthly for insurance. But if we take average Indian middle-class families’ health insurance that costs Rs. It comes with so many different plans, like a single person, a whole family, or only for children. Having health insurance is a must-have for middle-class families in India. Monthly Rationsįor middle-class families in India, the monthly ration costs around Rs. Average monthly fees for children’s education cost around Rs. Day by day, education fees are increasing, and for middle-class families, it’s a higher priority to pay their children’s fees. We’re discussing middle-class families in India, and children’s cover the maximum amount of money from salary for their school/college and tuition fees. 12,000 per month by using own vehicle for transportation.ĥ.

And if using a private bike/car – Around Rs.

6,000 per month cost for average middle-class families in India. But a good amount of money is spent on transportation for middle-class families in India. Some are using public transportation, or some are using private cars or bikes. In middle-class families in India, transportation expenses depend on family to family. For average Indian middle-class families, it costs Rs. And must have paid other essential bills like electricity bills. In 2021 now, each family member wants their unlimited pack and WiFi connection. The need for both things must have, and that’s why it also comes in major requirements. Internet and recharge must have bills to pay in any middle-class Indian family. But if we talk about average Indian middle-class families, monthly food expenses are around Rs. It is something you can’t predict for sure because food is entirely dependent on the number of family members. If you’re a family of four or three, you need a good space for your family, and your rent will vary between six to twelve thousand per month. So it ultimately depends on your lifestyle and how much you want to spend on a suitable flat or house. And it’s around Rs.6, 000 to Rs.12, 000 per month. If we talk about average middle-class families in India, they have to pay monthly rent for their basic living. Monthly Expenditure of a Middle Class Family in India But if we take the average Indian middle-class family, then there are so many expenses of basic needs that need to be fulfilled by middle-class families. If we talk about the monthly expenses of middle families, it’s utterly dependent on different lifestyles.

#FAMILY MONTHLY EXPENSES LIST HOW TO#

Then you’re reading the right article because in this article we’ve covered in-depth details about monthly expenses of middle-class families, how they make a monthly budget to pay the bills and costs.įirst, understand the main monthly expenditures of middle-class families in India!Īlso Read: How to Save Money from Salary in India? Suppose you want to know more about middle-class families’ monthly expenditures, bills, and budget to manage. That’s why in 2021, middle-class families in India start making a budget and track their money to save it. And almost 60-70% of their monthly salary is spent on costs and needs. Most middle-class families need to sacrifice their wishes and dreams for their monthly expenses. The average monthly salary of a middle-class family is around Rs. Middle-class families in India spend the most percentage of their salary on monthly expenses and bills.