What Monthly Salary is Required to Live a Good Life in Mumbai?

Mumbai, a sprawling metropolis known for its financial powerhouses and high cost of living, is a city where a decent living can vary dramatically based on individual financial situations and lifestyle choices. Let's explore this question through the stories of three fictional individuals: Rohan, Priya, and Sameer, all living in Mumbai but with different financial situations.

Rohan - The Budget-Conscious Worker

Rohan, a 25-year-old fresh out of college, has just landed a job as a marketing executive in Mumbai. His monthly salary is Rs. 40,000. For him, a decent life means having a roof over his head, eating well, commuting to work, and saving. Rohan rents a shared 1BHK apartment in Andheri for Rs. 15,000, splitting the rent with a roommate.

Monthly Budget Breakdown for Rohan:

Rent: Rs. 15,000 Food: Rs. 8,000 (home-cooked, occasional eating out) Commuting: Rs. 2,500 (local trains, autos) Utility Bills (internet, etc.): Rs. 2,000 Miscellaneous Expenses (clothes, occasional movies, gym): Rs. 5,000 Savings (emergency fund): Rs. 7,500

With a monthly salary of Rs. 40,000, Rohan is living comfortably, albeit carefully sticking to his budget. For him, this is a decent life—not extravagant but manageable. While he can't afford frequent dining out or expensive weekend trips, he is saving for the future.

Priya - The Middle-Class Manager

Priya, a 32-year-old mid-level manager at a consulting firm, earns Rs. 120,000 per month and lives alone in a 1BHK apartment in Powai, a nicer part of town compared to Rohan's area. For Priya, a decent life includes a balance between work and personal life, with the ability to dine out, travel occasionally, and indulge in hobbies.

Monthly Budget Breakdown for Priya:

Rent: Rs. 40,000 Food: Rs. 15,000 (home-cooked, frequent dining out) Commuting: Rs. 5,000 (Uber, metro, etc.) Utility Bills (internet, phone): Rs. 4,000 Entertainment Shopping: Rs. 10,000 Travel Fund Savings: Rs. 25,000 Health Insurance Investments: Rs. 15,000

Her total monthly expenses amount to around Rs. 114,000, giving her a bit of leeway. She lives comfortably but knows that unexpected costs can arise in a city like Mumbai. With her income, Priya enjoys a lifestyle that includes regular socializing, fitness classes, and occasional trips, but she plans her finances wisely.

Sameer - The Affluent Entrepreneur

Sameer, a 40-year-old entrepreneur running a successful tech startup, has a monthly income of Rs. 500,000 and lives in a spacious 3BHK in South Mumbai, one of the most expensive areas. For Sameer, a decent life means luxury—a personal car, fine dining, and travel abroad. His lifestyle is vastly different from Rohan's and Priya's.

Monthly Budget Breakdown for Sameer:

Rent: Rs. 150,000 Car Loan, Fuel, and Maintenance: Rs. 25,000 Food (including high-end restaurants): Rs. 30,000 Utilities (internet, house help): Rs. 15,000 Entertainment, Shopping, and Memberships: Rs. 50,000 International Travel Fund: Rs. 100,000 Investments and Charity: Rs. 100,000

His lifestyle in Mumbai reflects the high cost of luxury. While his earnings are significant, so are his expenses. For someone like him, a decent life in Mumbai means maintaining his status and comfort, which costs considerably more than for Rohan or Priya.

Conclusion

In Mumbai, a decent life depends heavily on income, lifestyle choices, and priorities. For someone like Rohan, a monthly salary of Rs. 40,000 allows a modest but decent living. Priya with a salary of Rs. 120,000 enjoys more freedom, while Sameer's high-earning lifestyle demands far more. In general, living a comfortable middle-class life in Mumbai today would likely require an income of around Rs. 80,000 to Rs. 150,000 per month, depending on housing, personal preferences, and location.