A post on social media comparing the quality of life in India with that in the US and Canada has led to a discussion about salaries, home ownership, living standards and the increasing burden of financial responsibility in India.
The post says people who used to struggle to live a decent life in India seem to have built comfortable lives abroad. People have been pointing out how middle class Indians are struggling financially to achieve the same things at home.
In his post Pranav said that he was surprised how easily some people in the US and Canada (people he knew in India who were broke before moving to these countries seemed to do much better once they moved there). “People I knew in India who had financial problems seem to be doing much better now than they did before,” he wrote.
He gave examples of people owning modern smartphones, cars (Toyota Camry), villas with greenery all around them just a few years after moving abroad.
That comparison got him thinking about the financial pressure of building a life in India “many people spend part of their monthly salary on home loan instalments for relatively small apartments” (his post), especially in cities where infrastructure and air quality are still issues.
He called this constant struggle financial “stupid and pointless hustle” and said people should think about how much pressure they are putting themselves under to hit conventional milestones.
The post has put the question squarely in front of us: Is it getting harder for India’s middle class to achieve financial stability and home ownership?
For many salaried people buying a home in a major Indian city takes years of savings, big loans and long repayment periods. Property prices, transportation costs, education costs, everyday necessities all put pressure on household budgets.
Meanwhile moving to the U.S. and Canada can provide different professional and financial opportunities: depending on occupation, location, immigration status and income some migrants may find it easier to save money or buy property.
However, life abroad is not necessarily financially comfortable for everyone. Housing costs, healthcare costs, taxes, insurance, childcare and other living expenses are also high. Migrants may be unemployed; visa restrictions; adjustment to a new society.
The comparison also shows how experiences can differ according to income, profession, family circumstances and city or region where someone lives.
Ultimately this is not about India vs another country. It’s about whether hard work and long term financial planning can give people the quality of life they want.
Pranav has put that concern into words by asking if the idea of working hard to own a home and build financial security is still delivering on the promised rewards for India’s middle class.
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