Influencer Paying Rs 1.5 Lakh Flat Rent Encourages Mumbaikars to Be 'Financially Wise,' Gets Trolled

Mumbai is one of the most expensive cities in the country. Purchasing a home can be a huge investment. Not just this, but even the rents in the city are always soaring. Elaborating o the same, influencer Sharan hegde took to Twitter and explained how it is better to live on rent rather than purchase a home. He explained his stance through a Twitter thread, for which, he is now being brutally trolled. “I live in the city of dreams, Mumbai My flat costs ₹7 Crores but I pay just ₹1.5 Lakhs in rent Buying it on EMI would’ve costed me ₹5 Lakhs p.m. even after paying ₹1.4 Crores in down payment,” he wrote.

He further mentioned several reasons as to why we won’t purchase a house. Have a look at the thread:

Tweeple do not seem to agree much with him. “Guy is single yet pays “Just Rs 1.5 Lakhs in rent” and is advocating others to live on rent as well. Assumes returns of 10% for the next 20 years straight. Fin Influencer,” wrote a Twitter user. He further mentioned, “YouTube is so funny, in one video a guy is telling you to rent a chawl and put the home loan EMI in an SIP & the very next video is of a Vlogger who just bought his 3rd Fortuner. The audience for both videos is the same.”

Another person wrote, “Biggest problem with finfluencers is that they’ve no real world application of finance. Forget qualifications, anyone can read & learn. But when you’ve not worked with money, when you’ve had no skin in the game- everything you say is just noise.”

“If you’re single, it makes sense to rent and not have a huge financial commitment like a house that makes your rooted to a place. On the other hand, with a family, you probably want to think about stability more. There’s a reason it’s called Personal Finance – it’s personal,” wrote another user.

Here are a few responses:

What do you think?

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