विशेषज्ञ की सलाह चाहिए?हमारे गुरु मदद कर सकते हैं

Ans: Your situation is very tough. But you are not alone. You are brave to ask for help. Let me appreciate your courage. You are standing tall even in pain. That’s a big first step. Let’s work on your full financial life. We will fix debts, expenses, credit score, and savings. We will move one step at a time. A 360-degree view is needed. Let us go deep now.

Immediate Emotional and Mental Well-Being
You are not your financial situation. Your life is more valuable than money.

Please talk to someone close. Sharing brings relief. Speak to your spouse, a friend, or a counsellor.

You are strong. But even strong people need support. Never feel ashamed to ask.

Let’s Understand Your Current Position Clearly
Monthly income is Rs. 35,000.

Monthly children’s education cost is Rs. 10,000.

Loan outstanding is Rs. 2,00,000 at 8% interest.

No savings at all. CIBIL is 500. That’s very low.

You own 1 acre of land in the village. You have a house in the city to stay.

Let Us First Handle the Emotion of Debt
Debt makes you feel helpless. But debt is not permanent.

Many families had high loans and still became stable over time.

We will make a plan to reduce the loan. You will be debt free.

Budgeting Is the Starting Point
Write down every expense for a month. Even small ones.

Prioritise spending. Stop any non-essential spending for now.

Essentials include food, education, and basic bills. Avoid luxury, eating out, online shopping.

Try to bring your household costs (including education) under Rs. 25,000.

That gives you Rs. 10,000 space monthly to manage loan and savings.

Fixing the Loan
Rs. 2,00,000 loan at 8% is manageable. But you need discipline.

Start by paying Rs. 5,000 per month. Increase it later when income improves.

Avoid taking any new loan now. Not even for emergency.

Once your credit score improves, you may get lower interest later.

Emergency Fund Is a Must
Start saving Rs. 500 per month. Increase slowly to Rs. 1,000 or more.

Keep this amount in a savings account or a recurring deposit.

Don’t touch this fund unless it is a medical or life emergency.

Rebuilding Your CIBIL Score
Low score blocks your future. We must fix it gradually.

Start paying EMIs on time. Never delay even by one day.

Don’t apply for new loans or credit cards now.

Check your credit report every six months. Dispute any errors.

In 18–24 months, your score will start improving.

Use the Land as a Strategic Resource
Don’t sell the land in a hurry. Land value can go up later.

If there’s no income from land, consider leasing it for farming.

If any family member in village can manage it, ask for help.

Try to earn small rent or crop-sharing from it.

Income Improvement Is the Game-Changer
Rs. 35,000 salary is tight for a family of five with kids.

Look for part-time or weekend jobs if possible. Even Rs. 2,000–5,000 more will help.

If your spouse can earn even part-time, it can reduce stress.

Can you use any skill (typing, cooking, tuition) to earn side income?

Children’s Education Is Sacred
Continue to support their studies. Don’t compromise on this.

Speak to their school. Ask for any fee discount or monthly plan.

Some NGOs support students. Explore such help with dignity.

Try reducing tuitions unless necessary. Try to teach them yourself if possible.

What Not To Do
Don’t borrow more to pay off loan. It becomes a debt trap.

Don’t use chit funds or informal finance. Risk is too high.

Don’t trust people who offer loans to fix CIBIL for a fee.

Long-Term Financial Planning – Step by Step
Once debt is cleared, start regular savings of Rs. 1,000–2,000 monthly.

Prefer investing through a certified mutual fund distributor who is also a CFP.

Don’t go for direct mutual funds. You miss expert support and handholding.

Regular mutual funds through CFPs help in review and correction.

With your busy life, professional help saves time and avoids mistakes.

Avoid These Investment Products
Don’t invest in insurance-cum-investment policies now. Not suitable for your case.

Don’t go for annuities or long lock-in products.

Don’t fall for get-rich schemes. Risk is high and returns are false.

Stay away from index funds. They don’t give personalisation and human guidance.

Actively managed funds have real experts. They change strategy as per the market.

Basic Protection Must Be In Place
You must have a term insurance cover. It protects your family if anything happens.

Don’t buy insurance with returns. Just get simple term plan.

Try for government health schemes if budget is low.

Any medical emergency without insurance can kill savings and push into new loans.

Slowly Build Retirement Plan
Once debts are cleared, start saving Rs. 500 monthly for retirement.

Over 20 years, it will become a large amount. Start small, but stay consistent.

Emotional Strength is Your Biggest Asset
You are not weak. You are responsible and brave. That’s your strength.

Focus on progress, not perfection. Even Rs. 500 saved is a big step.

No situation is fixed. Every year your position can improve.

Keep faith in your own discipline and your family’s support.

Finally
Make a spending list. Cut what you don’t need.

Use Rs. 5,000 per month for loan. In 3–4 years, you can be debt free.

Build Rs. 500 per month emergency fund.

After loans are cleared, shift to saving Rs. 2,000 monthly into mutual funds.

Always invest through a certified mutual fund distributor with CFP. Avoid direct plans.

Never feel alone. Seek guidance when stuck.

A secure life is possible. You just need focus and consistent action.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment