Latest news with #Finance_Bareek
Time of India
a day ago
- Business
- Time of India
As techies complain Rs 50 LPA not enough in Bengaluru, CA decodes what is wrong
Once considered a golden milestone, a Rs 50 lakh per annum salary in India's tech sector is no longer met with the same awe. As the cost of living in Bengaluru and other metros continues to climb, high-earning professionals are beginning to echo a new concern: 'We're earning more, but saving less.' From ballooning EMIs to luxury lifestyle expectations, a CA joined the online debate to decode the truth behind this growing sense of financial discomfort. Chartered Accountant Nitin Kaushik has weighed in with a no-nonsense take that's striking a chord online. According to him, it's not that people earning Rs 50 LPA are broke—they just have a 'budget with holes.' Kaushik believes the real issue lies in financial discipline , not earnings. He points out that most people have enough to save, but poor habits like impulsive purchases, weekend splurges, and ignoring daily micro-expenses leave them cash-strapped. The solution, he says, isn't chasing higher pay but fixing foundational habits: create a monthly budget, automate savings, and track where your money actually goes. His blunt takeaway? Discipline > High Income. Self-control, not a salary hike, is what leads to real financial freedom. — Finance_Bareek (@Finance_Bareek) Delhi-based businessman also joins the conversation Adding fuel to the conversation, Abhijit Chakraborty, a Delhi-based entrepreneur, shared his own experience of living well within his means. He questioned why so many professionals stretch themselves thin with home EMIs of Rs 2 lakh and car EMIs of Rs 50,000, all in the name of lifestyle. Despite earning Rs 30 lakh annually at one point, Chakraborty chose to drive a modest Rs 5 lakh car. Even when his income doubled, he only upgraded to a Rs 10 lakh vehicle, without taking a loan. While he acknowledged the value in investing in property, Chakraborty had little patience for unnecessary car loans and luxury spending. His message was clear: financial stress is often self-inflicted. A fat paycheck won't save you if your priorities are skewed toward keeping up appearances.
Time of India
5 days ago
- Business
- Time of India
Rs 15 lakh salary in India vs $80,000 in Canada: CA decodes what 'blind' obsession with foreign life could cost you
For many young Indians, the dream of moving abroad—especially to countries like Canada—has long been seen as the ultimate life upgrade. The math appears simple: earn in dollars, live better, succeed faster. But beneath the Instagram reels lies a sobering reality that few talk about. A new comparison by a chartered accountant, Nitin Kaushik , has sparked debate online by decoding what a Rs 15 lakh salary in India truly offers versus the much-hyped $80,000 income in Canada—and the findings are eye-opening. As per the CA, at first glance, $80,000 (roughly Rs 49–50 lakh) may sound like a jackpot. But he mentions that once you factor in Canada's steep taxes, high rent, vehicle expenses, grocery bills, and mandatory winter prep, the dream fizzles out fast. For many, what's left after monthly costs barely allows room for savings, let alone building wealth. What can Rs 15 lakh salary in India get you? Meanwhile, a Rs 15 lakh package in India, though often dismissed as 'less ambitious,' actually delivers far more in terms of lifestyle and savings. Lower cost of living, access to family support, affordable help, and cultural comforts all stack up in its favour. With manageable rent, home-cooked meals, and no brutal winters to navigate, life in India, especially for white-collar professionals, can offer balance, emotional well-being, and real financial progress. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's The Average Price of a 6-Hour Gutter Upgrade in Annandale Read More Undo The reality check doesn't stop there. Contrary to social media hype, the Canadian job market isn't always welcoming. Many new migrants land in low-paying survival jobs—retail, warehousing, delivery—just to stay afloat. Earning $30,000–$50,000 after taxes often means scraping by with minimal savings. And while Canada scores high on cleanliness and infrastructure, many face isolation, mental health struggles, and burnout, factors rarely discussed before.. — Finance_Bareek (@Finance_Bareek) Of course, there are exceptions. The CA mentioned that professionals in tech, healthcare, or academia may still find great opportunities abroad. But for the vast majority—especially those going on student or dependent visas—the Canadian dream often turns into a quiet hustle for survival and PR. So before chasing a foreign lifestyle for its gloss, it's worth asking some honest questions: What do you really save? How much quality of life are you trading? And most importantly—are you happy?
Time of India
14-06-2025
- Business
- Time of India
He bought a Gurgaon flat in crores but now it ruins his weekend peace, even in Canada
Buying a home is often seen as a rite of passage—proof that you've made it. But what if that very milestone turns into a chain around your freedom? A recent post by CA Nitin Kaushik on X (formerly Twitter) is sparking conversation online for highlighting a growing reality many Indians face: how a dream home can silently turn into a long-distance liability. In 2017, Kaushik's friend proudly purchased a ₹1.1 crore flat in Gurgaon, backed by an ₹85 lakh loan. It was hailed as his first major asset—a moment celebrated by friends and family alike. But five years later, life took a turn. He received a lucrative job offer in Canada and moved abroad for a better future. The one thing that didn't move? The flat. Fast forward to 2025, and his weekends now look nothing like the peaceful life he imagined. Instead, they're filled with WhatsApp tenant complaints, rent follow-ups, society dues, and property tax paperwork. The once-prized possession has become a logistical mess—one that ties him down, even from across the world. 'Passive income?' Kaushik writes. 'More like passive frustration.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bangladesh: Unsold Sofas at Bargain Prices (View Current Prices) Sofas | Search Ads Search Now Undo — Finance_Bareek (@Finance_Bareek) The post has struck a nerve among many Indian professionals, especially NRIs , who are realising that real estate doesn't always guarantee financial peace. From delayed rentals to maintenance hassles, what begins as a badge of success can morph into a burden. Kaushik's advice is blunt but necessary: before buying that 'dream flat,' ask yourself—are you truly buying security, or just committing to years of stress paid in EMIs?
Time of India
14-05-2025
- Business
- Time of India
Financial independence: CA suggests how to start consultancy from home with zero clients and zero investment
Think you need a fancy office or a fat bank account to launch a consultancy? Think again. In a world obsessed with flashy setups and massive investments, Chartered Accountant Nitin Kaushik is here to remind aspiring consultants of one powerful truth: starting small from home is not just possible—it's profitable. His viral post on X has struck a chord with thousands, offering a step-by-step breakdown of how everyday skills can turn into full-time income, all from the comfort of your living room. CA Nitin Kaushik recently took to social media to simplify what many overcomplicate—starting a consultancy in India. According to him, you don't need swanky office space, hefty capital, or even a website to begin. What you really need is just three things: a skill that people value, proof that your advice works, and an easy way for people to reach you (think LinkedIn, WhatsApp, or email). The formula is straightforward. First, identify your strength—be it marketing, law, HR, finance, or even something unconventional like career counseling. Then, offer your services to a couple of clients for free. Use this phase to deliver results and gather testimonials. These early wins are your credibility. — Finance_Bareek (@Finance_Bareek) Next, get registered as a sole proprietor. For most consultants, basic GST registration is more than enough. You don't need legalese or bureaucracy to block your progress. Once you're up and running, use free tools like Google Docs for documentation, Zoom for meetings, and WhatsApp for quick client updates. There's no need to invest in pricey software or office rent when free digital tools can get the job done efficiently. The game-changer? Don't charge by the hour. Charge based on results . Clients care about outcomes, not clock time. This also allows you to scale faster and value your own expertise more effectively. To prove his point, Kaushik shares a real-life story of a friend from Indore who started guiding students with career advice. What began as a passion project soon turned into a full-time income stream—all from home, with no fancy trappings. He also emphasised that anyone can start. But all it takes is that first step.
