Loans, EMIs & spending
Home, car and personal loans, EMIs, lifestyle inflation and spending. 35 posts, newest first.
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SIP loans: keep your investments, pay the interest
SIPLoans! This was a new term I was introduced to last week. While discussing PersonalFinance with a friend, he mentioned that he had taken an “SIP Loan.”
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He got a salary hike. My advice wasn't to invest it
He got a salary hike. My advice wasn't to invest it. Recently, a friend reached out for some advice. He had received a salary hike and was wondering:
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₹2.5 lakh a month, and 80% goes to EMIs
He earns ₹2.5+ lakh a month. Has been with the same company for 10+ years. Lives a modest lifestyle.
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How to fix debt and free up monthly cash flow
“How can I fix my debt and increase my monthly cash flow?” This was the question someone asked on Reddit. Surprisingly, a lot of the commentary on SocialMedia is focused on blaming him, his…
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Why you can't invest 90% of your salary, and that's fine
“I can't even invest 25% of my salary. And she is investing 90%!” A friend sent me this message after reading about Radhika Gupta investing 90% of her post-tax income. I had to explain:
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Since when did spending become a flex?
Since when did spending become a flex? That's the new trend on SocialMedia. Every week, someone posts their monthly expenses.
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What's your average monthly expense? Most people guess
"What's your average monthly expense?" Whenever I ask this question, most people pause. Then comes an answer like: "Maybe ₹80,000... give or take ₹20,000."!
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An 800+ CIBIL score doesn't guarantee a loan
One of the biggest myths in PersonalFinance is: "I have an 800+ CIBIL score, so my Loan will definitely get approved." If only banking were that simple.
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Did they need it, or did they buy the hype?
Did they need them, or did they buy into the hype? That's how modern consumerism works. We don't just buy products anymore.
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A ₹90 lakh BMW at 27. Is that success?
Can someone be considered successful based only on the car they own? Recently, a 27-year-old Influencer bought a ₹90 lakh BMW. The internet immediately started debating:
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Welcome to the world of HENRY
Welcome to the world of HENRY! Henry believes in: Work hard. Party harder! He has the latest gadgets! The premium car!
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Why a small scratch on a car creates a big fight
Why does a small scratch on a car sometimes create a big fight? Recently, someone reached out asking for my views on buying a car. My advice was simple:
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Pre-approved loans: I checked all the terms at the airport
Sitting at the Airport waiting for my flight, I got yet another call from a bank offering an instant pre-approved loan. Since I started from my home well ahead of time to beat the Bengaluru…
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Why bonus money is easier to spend: mental accounting
Ever noticed how spending ₹10,000 from a Bonus feels easier than spending ₹10,000 from your monthly salary? Even though both have the same value. This behavior has a name: MentalAccounting.
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The car EMI that makes ₹2 lakh a month feel small
One of the biggest reasons even a ₹2 lakh monthly income feels insufficient today is the CarLoan EMI. Recently, someone reached out asking for advice on buying a car. As expected, the…
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A trick for impulse spenders: let the company save it first
Years back, I had a friend who struggled to control impulse spending. Her biggest problem was simple: The moment the salary got credited, shopping apps suddenly became very attractive! I…
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₹2.2 lakh for Senior KG: is expensive the only option?
This image is doing the rounds. ₹2.2 lakh+ for Senior KG! And the usual narrative is:“Education is becoming unaffordable.” But here’s a slightly uncomfortable thought: Is expensive…
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Invested instead of prepaying the home loan. Now what?
“Bro, I am screwed…” That’s how the call started. He had invested surplus money in equities, instead of repaying his HomeLoan.
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Lost a home after missing three EMIs? Check the story first
Recently, SocialMedia was flooded with posts about someone losing his home after missing just 3 EMIs due to a JobLoss. The story spread fast. - Major Media houses picked it up.
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Take a personal loan to invest in equity? More replies than expected
A few days back, I wrote about a friend who suggested a “sure-shot” way to become rich fast - Take a PersonalLoan and invest in Equities! While that idea itself was shaky, what surprised me…
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The master plan to get rich fast: personal loan into equity
“Bro, I’ve found a Master Plan to become Rich fast.” Naturally, I asked him to share the details. “These days, PersonalLoans are available at as low interest rates as 10%, opt for it and…
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Why I don't upgrade my phone every year
The other day, my carpool partner asked me why I don’t upgrade my phone. Her logic was simple: “Apple just launched iPhone17. Mine looks rough, and I can easily opt for no-cost EMI during…
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I don't track expenses. I track savings
“How do you track your Expenses?” This is a question I am often asked. My answer usually surprises people. I don’t track expenses, I track Savings!
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Prepay the home loan, or buy bonds and corporate FDs?
A few days ago, I wrote about why it is better to close a HomeLoan early, rather than parking surplus money in equities. That post sparked another debate with a friend, “Why not invest in…
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Excel vs real life: should you prepay your home loan?
The Excel Sheet vs RealLife Debate: should you Prepay your HomeLoan? If you follow finfluencers, you’ve surely heard this: “Don’t prepay your home loan. Invest instead, home loan interest…
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Inflation is 1.55%. Why does city life feel 15% dearer?
If Inflation is only 1.55%, why does life in the City feel 15% more expensive every year? Recently, a friend told me she got a 15% salary hike, yet she wasn’t happy. “Barely keeps up with…
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The foreclosure charge that kept an expensive loan alive
While reviewing a friend's finances, I noticed he had a PersonalLoan at a high interest rate, but also had sufficient surplus to close it. When I asked why he wasn’t closing the loan, his…
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Gold loans are up 50%. Should RBI worry?
Gold Loans are Surging, making RBI worried? Gold loans in India have skyrocketed by over 50%, far outpacing overall loan growth. What’s driving this Gold Rush?
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My four-year-old phone still looks new
"You got a new phone!" my colleague exclaimed. I smiled and replied, "Nope, it’s my 4-year-old mobile, I just removed the cover!" His next reaction? "But it doesn't look like an iPhone.…
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I lent a friend money. Here's where it went
A few months ago, I had lent money to a friend, which he was supposed to return six months ago. When the due date arrived, he requested an extension. Curious, I asked why. After some…
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Repo rate cut. When will my loan rate fall?
With the RBI Governor reducing the RepoRate by 25 basis points, many borrowers have one burning question: When will my loan interest rates go down? All retail floating-rate loans sanctioned…
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I said no car loan, then bought my car on a credit card
Recently, a friend asked me, “You advised me not to buy a Car on Loan, but you bought yours using a CreditCard! Isn’t that just another form of a loan?” A valid point, right? But here’s how…
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Need a personal loan? Consider a gold loan first
Whenever someone reaches out to me for advice on PersonalLoans, my first question is always, Can you avoid taking the loan altogether? If the answer is no, my next suggestion is simple:…
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What I'd build for a fintech: expense management
A few years ago, during an interview with a prominent fintech company, I was asked, "What would you improve in our app?" My answer was straightforward: "With the immense data you have, why…
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Paying extra to look cool: the iPhone price trap
Are We Paying Extra to Look Cool? The Hidden Cost of iPhones 📱💸 Buying an iPhone? Be prepared to pay more each time you shop! It’s a phenomenon we see everywhere, in the past users have…