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Money Matters is a series where I have conversations with normal people such as you and I, on your personal finance issues. It is important to note that I am NOT a financial expert, I am NOT SEBI registered, and I am NOT qualified to give financial advice. Everything that I say in these videos is purely through my own experiences.
So these videos do not offer any stock tips, or specific mutual fund recommendations or get-rich-quick schemes. I am not selling any product or service through these videos.
None of the brands that I mention in these videos have paid me to mention them, unless I explicitly say so (and I will say if the video is sponsored).
This also means that my advice may not always be the right advice. So incase I make a mistake, the best way to correct me will be to share your point of view in the comments, so that everyone can benefit from it.
I am not perfect, nor claiming to be either and would love to learn and grow. The idea is simply to help people with their finance journey and through their story try to help others who may have a similar story.
In this episode of Money Matters, I spoke with a 35-year-old from West Bengal raising twins on a household income of roughly ₹42,000 a month. The family is carrying close to ₹8.8 lakh in debt, and the most painful part is how that debt is structured: two of their loans are interest-only, meaning they pay ₹10,000 and ₹4,500 every single month, and yet the principal never moves an inch. To stay afloat, her husband has been doing the most dangerous thing of all - taking one loan to pay off another, then rotating to a third.
However, out of a ₹20,000 household budget, she's been building SIPs, LIC policies, KVPs and an emergency fund. So this conversation became about sequencing - which loans to kill first, how to use existing savings and gold smartly instead of rotating debt, why a home loan or a loan against property beats a gold loan, and why no business or travel dream should begin until there's a full year of expenses sitting safely in the bank. Watch the full episode for the exact step-by-step plan.
00:00 About Divya
00:54 Expectations from Money Matters
02:05 Current finances
10:44 Plan for finances
19:30 Closing remarks
#DebtFree #MoneyMatters #warikoo
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The above links are for products that I personally use for my own investing. If you create an account on any of these using the above links, I stand to make a referral income from it. 100% of this income is contributed towards the education of kids who cannot afford it. Over 5 years we have contributed 1.96Cr in helping kids continue their education.
DO NOT assume that these are the best products in the industry. Please do your research and let me know if you have any questions.
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