‘No family support, only Rs 8,000 left': High-earning Chennai couple reveals why they have almost nothing to save each month

Economic Times

5 days ago

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 parenting.The 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 child.They 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 savings.Beyond 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, respectively.Altogether, 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 is.To 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 finances.Their 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 stability.In 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 lakh.She 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 2025.The 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 lakh.Total 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 lakh.Total 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 lakh.Total 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 lakh.With 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.