Where is the month’s salary spent?

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A survey by Money9 answered the question which every middle class family in India has been asking. The question is, where does the month’s salary go? According to a survey by Money9, about 39 percent of the income that Indian families earn in a month is used for monthly ration, fuel and utility bills. According to India’s Pulse Personal Finance Survey,  19 percent of the monthly income of Indian families is spent on buying ration for the month and 8 percent is spent on buying fuel.

Apart from ration and fuel, about 12 percent of the salary is spent in paying electricity, water and internet bills. That is, if we include ration, fuel, electricity, water and internet bills together, 39 percent of the salary is consumed. Apart from this, there are many other expenses which consume a major part of the salary.

According to the survey, about 10 percent of the salary of Indian families is spent in paying children’s fees. Apart from this, 8 percent of the salary is used to buy clothes and almost the same amount is spent on buying medicines. According to the survey, Indian families spend 4 percent of their salary on loan repayment and 2 percent on credit card bill payment.

Money9’s survey also shows that Indian families save some part of their monthly salary, according to the survey, after settling all the expenses, about 18 percent of the salary is left, which is used for savings and investment.

This survey of Money9 was conducted in more than 115 districts of 20 states of the country during August to November. The survey was conducted in 10 different languages, it included 1140 villages or urban wards of the country.