Man explains why two salaries may not be enough

Earning more can change the way people make financial decisions. A home, a better school, a new car or more regular outings may start to feel affordable when there are two salaries coming in. But those decisions can also bring new monthly commitments.Dr Sunny Garg, an entrepreneur, recently used a two-income household to explain how this can happen, raising questions about what financial comfort really looks like for families with a high combined income.

The ₹3 lakh household example

Garg described a couple earning ₹1.5 lakh each, taking their combined monthly income to ₹3 lakh.He pointed to several expenses that could form part of such a household's budget. Home rent or EMI could be ₹60,000-70,000, while school fees could be ₹25,000-30,000. Car EMIs, transport, support for parents, SIPs, weekend outings, and subscriptions could add to the monthly outgo.With several such commitments running together, the salary figure alone may not show how much money is actually left for the household.

When income shapes lifestyle choices

Garg said having two incomes can influence decisions about the kind of lifestyle a family chooses.He explained:“House decide kiya because do income hai. School choose kiya because do income hai. Car upgrade ki because do income hai. Lifestyle build ki because do income hai, "ID@undefined Caption not available.ID@undefined Caption not available.ID@undefined Caption not available.According to his example, these choices can eventually become part of a family's regular financial responsibilities.

What happens when one salary pauses?

This is where Garg's argument turns to financial security.He said, “And suddenly you realise, ₹3 lakh kamane wala household bhi financially free zaroori nahi hai,"He then framed wealth as something beyond increasing monthly earnings:“Maybe wealth is not just about increasing what comes in. It is also about building a life that doesn’t collapse the moment you stop running,"The question, therefore, is how dependent the existing lifestyle is on both salaries continuing.

Garg's point about rising income

In the caption of his post, Garg summed up his argument by pointing to the way lifestyle can change as earnings increase.“₹3 lakh/month can look wealthy on paper and still feel surprisingly tight in real life. Because as income grows, often the life built around that income grows too," Garg wrote in the caption of the post.He added, “Maybe the real measure of financial freedom isn’t just how much you earn-but how much flexibility your life gives you when one income pauses,"

Users weigh in

The post also led users to discuss their own experiences with EMIs and spending.One user wrote, “This is so true."Another commented, “Exactly my Brother in law and sister in law earn more than 2.lakh pm in govt teacher profession but they always cry at month end due to EMIs burden."A third user said, “People be buying flats, car, etc doing SIP and then say that they are not feeling rich. One should know the difference between capital expenditure and revenue expenditure."Disclaimer: This article is based on a social media post and comments shared by users. The views expressed are those of the individuals quoted and have not been independently verified by The Times of India.Thumb image: Instagram