Struggling California Resident, an Indian Woman, Expresses Financial Woes as a Family of Four in California Faces escalating Costs.
In a fascinating comparison, an American woman named Kristen Fischer, who has been residing in India for the past four years, and an Indian woman named Shivee, living in the San Francisco Bay Area, have shared their family's monthly expenses on Instagram.
Kristen's Instagram post, captioned as "Rupees in India stretch further than the relative dollars do in the USA," has gained attention with over 139,000 views. The post discusses the Indian rupee's better domestic purchasing power compared to the US dollar.
On the other hand, Shivee's video, titled "Expenses for a family of 4 in Fremont, California," offers a glimpse into the costs of living in the San Francisco Bay Area.
For Kristen's family, their fixed monthly expenses total about $7,900, with an additional 10% for miscellaneous expenses, bringing the total to about $8,700. This figure includes utilities ($500), gym memberships and group workout classes ($200), car insurance ($130 per month), full-time daycare for their toddler ($2,400), groceries ($1,000), and rent for a two-bed, two-bath apartment in the East Bay ($3,300).
In contrast, the average cost of a family of four in San Francisco, as shared by Shivee, typically amounts to around $9,000 to $10,000. This budget includes rent ($3,300 for a two-bedroom apartment), full-time toddler daycare ($2,400), groceries ($1,000), utilities ($500), gas ($200), transport for work ($150), gym memberships and classes ($200), car insurance ($130), and a 10% miscellaneous buffer for other costs.
Kristen argues that while incomes may be higher in the USA, everything also costs more there. For instance, the average cost of a haircut in India is around 100 rupees, while in the USA, it is approximately 40 dollars (3,400 rupees). This means that in India, 34 haircuts could be bought for the same amount of money as one haircut in the USA.
It is important to note that this comparison does not specify the location in the USA where Kristen is comparing costs. Moreover, the post does not mention any specific cities or regions in India where the cost of a haircut is around 100 rupees.
This is not the first time such comparisons between the Indian rupee and the US dollar have gained attention online. The high cost of living in the San Francisco Bay Area, particularly housing and childcare costs, is a recurring topic in such discussions.
- Despite her income being higher in the USA, Kristen Fischer believes that everything in India is more affordable, as evident in the cost of a haircut, which is around 100 rupees in India, but approximately 3,400 rupees in the USA.
- Shivee's cost of living, as shared on her Instagram account, is typically around $9,000 to $10,000 a month for her family in Fremont, California, which includes expenses like rent, groceries, utilities, car insurance, and childcare.
- India's housing market and personal finance, particularly in terms of purchasing power, seem to be more advantageous than the USA, as Kristen Fischer's monthly expenses total about $8,700, including rent, utilities, and childcare, compared to the average cost of a family of four in San Francisco, which is around $9,000 to $10,000.
- In light of these contrasting costs, it is crucial for those interested in investing in real estate or personal finance, whether in housing market, residential properties in India or the bustling San Francisco Bay Area, to carefully consider their budgeting requirements and priorities.
