Mumbai, often referred to as “Mayanagri” or the “City of Dreams,” is one of India’s costliest cities to live in, which makes the question of an adequate salary significant. For a comfortable lifestyle in Mumbai as a 25-year-old, several factors need to be considered, such as housing, food, transportation, entertainment, and savings.
Housing: Rent can vary dramatically depending on the location. Areas like South Mumbai or Bandra are expensive, while places like Thane or Vikhroli might be cheaper. On average, renting a 1BHK apartment can cost between INR 20,000 to INR 50,000 per month.
Utilities and Internet: Basic utilities (electricity, heating, cooling, water, garbage) can cost around INR 3,000 to INR 5,000 per month, and Internet plans are around INR 700 – INR 1,500 per month.
Food: If you cook at home, groceries might take about INR 4,000 to INR 10,000 monthly. Dining out occasionally could push this up.
Transportation: Using public transportation like local trains or buses is affordable, with monthly expenses likely around INR 2,000 to INR 3,000. Using ride-sharing services or owning a vehicle will increase this budget.
Miscellaneous and Entertainment: This includes money spent on movies, shopping, and other leisure activities, approximating INR 5,000 to INR 10,000.
Health Insurance and Other Emergencies: Insurance can start from INR 1,000 per month depending on coverage.
Considering these factors, a net monthly income of around INR 60,000 to INR 80,000 can provide a reasonable lifestyle while allowing for savings and unexpected expenses. This estimation can vary based on individual lifestyle choices and preferences. If one desires more luxury, desires saving more aggressively, or is drawn to expensive neighborhoods, the required salary would be higher.
