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From your first job and salary to your first apartment, your 20s are filled with “firsts” that come with huge responsibilities. These responsibilities often translate into underestimated costs.
Here are some expected, unexpected and underestimated expenses that hit young adults stepping into their 20s.
Commuting and transport
While commuting costs vary depending on the mode of transportation, these fixed expenses are often underestimated and add up at the end of the month.
Grocery
Groceries are another underestimated expense. Young adults might not think much about a weekly grocery run until they evaluate their monthly expenditure.
Medical bill
Rising health issues among young adults, coupled with increasing healthcare costs, put pressure on your wallet. Having health insurance helps reduce the burden to an extent.
Insurance premium
Premiums for health, life, and car insurance are non-negotiable, recurring costs that one needs to take into consideration when planning their finances in their 20s.
Rent
Your 20s, especially early and mid-20s, will be marked by apartment hunting and rental agreements as you move out of your hometown, either for a new job or to pursue higher education.
Wedding
On average, Indian weddings cost anywhere from ₹10 to 50 lakh. Some young adults opt to alleviate the financial burden on their families by bearing part of the expenditure of their own wedding.
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