Is 30K Rupees Enough to Live in Mumbai as a Newly Graduated 21-Year-Old?

For newly graduated 21-year-olds embarking on their first job journey in Mumbai from January 2017, the question of whether 30,000 Rupees (INR) is sufficient for living expenses can be quite daunting. Mumbai is a city known for its unique blend of opportunity and cost of living challenges. Here’s a detailed look at how 30,000 INR might stretch to meet your living needs.

Breaking Down Living Expenses

Mumbai offers a spectrum of living scenarios, each with its own set of expenses and conveniences.

Living as a Bachelor with Some Savings

If you are a bachelor living alone, you can comfortably manage with 30,000 INR per month, provided you have some savings. Here’s how:

Hostel or Paying Guest Accommodation: A popular option is to live in a paying guest (PG) or hostel which can cost around 10,000 INR. These accommodations generally provide breakfast and dinner. Room Sharing: Sharing a room with strangers can further lower your accommodation costs, potentially reducing your monthly expenses. Transportation: Expected costs for travel can be around 10,000 INR per month, allowing for a more comfortable living experience.

By allocating 10,000 INR towards travel, you can end up with 10,000 INR per month in savings. This amount can help you build a financial cushion or manage unforeseen expenses.

Living with Family

Living with family can make budgeting more challenging, but it is not impossible. Here’s a breakdown:

Accommodation: Rent for a shared or sublet space can vary widely, but finding something in the range of 5,000-10,000 INR might be feasible. Slum Housing: Living in slums or slum rehabilitation houses is not recommended due to inadequate living standards and safety concerns. Decent Living Standards: If you require a 1BHK flat at 10,000 INR per month, you may need to relocate to outer suburbs like Dombivili or Virar, where living conditions may be less favorable and commuting might become a significant challenge.

Balancing Your Lifestyle

To maintain a good lifestyle in Mumbai, it’s advisable to consider staying in the suburban areas where the quality of life is robust. Here’s a detailed look:

Suburban Living: Malad and Borivali

Malad and Borivali are ideal suburbs for a 21-year-old starting their career in the city:

Housing: You can find rentable housing for around 10,000 INR per month, including basic amenities. Quality of Life: These areas offer a good range of food options and easily accessible public transportation, making daily life more convenient. Additional Costs: Real estate brokerage fees can add a layer of complexity but are generally manageable.

By carefully managing your budget and choosing the right location, 30,000 INR can support a comfortable living experience in Mumbai.

Conclusion

For the newly graduated and soon-to-be-employed 21-year-old, 30,000 INR can be sufficient if you are prepared to make smart decisions about housing, travel, and other expenses. The key is to prioritize and choose a living environment that aligns with your financial goals and lifestyle aspirations.