Home > Career > Question
Need Expert Advice?Our Gurus Can Help
Sushil

Sushil Sukhwani  |594 Answers  |Ask -

Study Abroad Expert - Answered on Aug 04, 2023

Sushil Sukhwani is the founding director of the overseas education consultant firm, Edwise International. He has 31 years of experience in counselling students who have opted to study abroad in various countries, including the UK, USA, Canada and Australia. He is part of the board of directors at the American International Recruitment Council and an honorary committee member of the Australian Alumni Association. Sukhwani is an MBA graduate from Bond University, Australia. ... more
Bunty Question by Bunty on Aug 01, 2023Hindi
Listen
Career

My daughter 24 years old wants to pursue her MS course in UK. She is B Tech (Mech). She has offers from a few univs in UK. As a parent, what factors I need to worry about her studies in UK. Is the country safe & sound and what are the dos & don'ts that one needs to be particularly careful about. By Bunty.

Ans: Dear Bunty,

To begin with, thank you for contacting us. Parental worry for your daughter's safety while she attends her MS program in the UK is quite understandable. International students frequently choose to study in UK because it is regarded as a safe, stable nation with a strong educational system. But just like anywhere else, there are some things to think about and some dos and don'ts to remember to ensure your daughter has a safe and fun time there:

1. Accommodation: Help your daughter locate safe housing close to her institution. For overseas students, on-campus housing is frequently available and should be taken into consideration.

2. Planning Your Budget: Ascertain that she has a well-thought-out budget and enough money to cover her living expenses, tuition, and any other unexpected costs.

3. Medical Insurance: Ensure she has complete health insurance coverage while in the UK. Some universities provide overseas students with health insurance policies.

4. Emergency Numbers: Provide your daughter with emergency contact information, viz., your phone number and that of the closest embassy or consulate.

5. Transportation: Familiarize your daughter with her city's public transportation system and educate her on travel safety precautions.

6. Campus Resources: Encourage her to become acquainted with the campus resources, support services, and student helplines offered to overseas students.

7. Cultural Awareness: Remind your daughter to observe UK cultural customs and standards with respect. Encourage her to appreciate variety and become familiar with British culture.

8. Socializing: To enhance her experience and create a network of allies, encourage her to make friends, join clubs or societies, and partake in university events.

9. Emergency Planning: Teach her what to do in the event of crises, viz., natural catastrophes or other unforeseen circumstances.

10. Time Management: Encourage her to prioritize her time wisely by juggling her academic, social life, and personal needs.

11. Travel Security: Remind her to be cautious when traveling, especially at night, and to avoid areas that are poorly lighted or secluded.

12. Personal Possessions: Encourage her to safeguard her possessions and remain alert at all times, especially in crowded areas.

13. Visa and Immigration Adherence: Make sure she is informed of her visa obligations and abides by all UK immigration laws while she is there.

While the UK is typically a safe place, it's still important to be on guard and take the appropriate safety measures everywhere you go. Your daughter can have a fruitful and fulfilling experience while pursuing her MS in the UK if she is well-informed and prepared. Maintain regular contact with her, offer support, and address any worries she may have to ensure she has a happy and fulfilling time overseas.

For more information, you can visit our website.
Career

You may like to see similar questions and answers below

Dr Pananjay K

Dr Pananjay K Tiwari  |113 Answers  |Ask -

Study Abroad Expert - Answered on Aug 26, 2024

Listen
Latest Questions
Ramalingam

Ramalingam Kalirajan  |8604 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 30, 2025

Asked by Anonymous - May 29, 2025
Money
I am 38 years old unmarried female. I have a housing loan of 54 lakhs (17 years remaining) emi of 51588 and car loan of 13.5k for 2 years remaining. I have 12 lakhs saved in mutual funds, 10k per month going in LIC and 25k per month going to gold kitty. I get a salary of 2.75 lakh per month and want to buy another home on loan worth about 1 cr. Please advise what changes i should make in my spend
Ans: You are earning well and managing some savings already. That is appreciated. However, you are also carrying high EMIs and considering more loan. Your spending needs a sharper plan. Let me now analyse it step by step from a Certified Financial Planner point of view.

Your Current Financial Snapshot
Age: 38 years

Salary: Rs. 2.75 lakhs per month

Home loan: Rs. 54 lakhs, EMI Rs. 51,588, with 17 years remaining

Car loan EMI: Rs. 13,500 for 2 more years

Mutual fund savings: Rs. 12 lakhs

LIC premium: Rs. 10,000 per month

Gold kitty: Rs. 25,000 per month

Planning to buy a second home worth Rs. 1 crore with loan

Appreciation Where It’s Due
You earn a strong income and have controlled lifestyle inflation

You are investing in mutual funds

You are maintaining discipline in EMIs

Housing Loan – High Burden Now
Rs. 51,588 EMI already takes a big part of income

It runs for 17 more years. That’s a long commitment

It reduces your financial flexibility

Planning a second home loan now is risky

EMI of second home will cross Rs. 70,000 easily

Your total EMI burden will then cross Rs. 1.3 lakhs monthly

That is nearly 50% of your monthly income

Car Loan – Short Term Impact
EMI of Rs. 13,500 will go for 2 more years

While manageable, it adds pressure in short term

Till it ends, your cash flow is stretched

LIC Policy – A Mistake That Needs Correction
You pay Rs. 10,000 per month in LIC

That is Rs. 1.2 lakh per year

LIC traditional plans give very low returns

They mix insurance with investment

Better to separate both goals

Pure term insurance gives more cover for lower cost

Surrender LIC policy if it’s endowment or money-back plan

Reinvest that amount in actively managed mutual funds

This helps in better long-term wealth creation

Gold Kitty – Not a Productive Use of Funds
Rs. 25,000 going to gold every month is not smart allocation

Gold does not give regular income

It does not beat equity returns in long term

Gold is good for diversification, but not in large quantity

Keep gold to less than 10% of total portfolio

Stop gold kitty and reroute to equity mutual funds

Second Home Purchase – A Caution Needed
Buying second house now is not a wise choice

You already have one big home loan

Second loan will overload your monthly cash flow

Your future flexibility will get locked in

You will also bear property tax, maintenance, and vacant risk

Property prices don’t rise every year

Real estate is not a liquid investment

If you lose job or face emergency, selling a house is hard

It cannot be your emergency backup

Rental income may also not match EMIs

Better to focus on financial freedom than owning many properties

Mutual Funds – Smart Start but Needs Better Strategy
You saved Rs. 12 lakhs in mutual funds

That’s a strong beginning

Don’t stop SIPs or investments now

Increase SIP amount after car loan closes

Continue with actively managed mutual funds

Avoid index funds

Index funds only track market

They fall when market falls, no cushion

Active funds have experts managing them

They shift from weak to strong stocks

Performance is higher over long time if chosen well

Direct Plans – Not Ideal for Your Situation
If you have direct mutual funds, reconsider them

Direct plans may save cost, but you miss guidance

A Certified Financial Planner gives you personalised planning

You get goal-based fund selection

You also get portfolio reviews and timely changes

In emotional market conditions, you need expert support

Regular plans through MFD with CFP help you invest wisely

Action Plan – Spending and Investment Adjustments
Do not go for second home loan now

Keep your EMI to income ratio below 30%

Stop gold kitty immediately

Reallocate that Rs. 25,000 to mutual fund SIPs

Surrender LIC policy and invest that Rs. 10,000 also in mutual funds

When car loan ends, redirect Rs. 13,500 into SIPs

This way, Rs. 48,500 monthly can go into high growth investment

What to Do With Current Mutual Funds
Review your current fund choices with a CFP

Ensure funds match your risk profile and goals

Check if the mix is well balanced between large, mid, and flexi-cap

Remove poor performing funds and add better ones

Use fund switching if needed

Emergency Fund – Is It There?
You need at least 6 months of expenses saved

This helps during job loss or medical issue

Keep it in FD or liquid mutual fund

Don’t depend on credit cards or loans in emergencies

Insurance Coverage – Double Check Needed
Do you have term insurance of at least Rs. 1 crore?

If not, take it now before buying anything else

Term plan is must for all earning individuals

Also get a separate health policy

Corporate health cover alone is not enough

Tax Planning – Use Efficiently
Use ELSS funds for tax benefit under Section 80C

They give better returns than LIC or PPF

Lock-in is 3 years only, not 15 like PPF

PPF is still useful for partial long-term savings

Mix both ELSS and PPF for a good 80C strategy

Retirement Planning – Begin Now
You are 38. Retirement can be 15-20 years away

After retirement, no fixed income will come

You must build corpus now to live stress-free later

Mutual funds help create that retirement kitty

SIPs give compounding benefit over years

Keep increasing SIPs every year with salary rise

Have a separate SIP just for retirement

Freedom vs. Debt – Choose Wisely
Owning too many properties gives emotional satisfaction

But financial stress rises with each new loan

Your life becomes EMI-driven, not freedom-driven

Instead, become debt-free earlier

Then focus on travelling, health, hobbies and peace

Yearly Review – Must for Success
Every year, sit with your Certified Financial Planner

Review your spending, EMIs, investments and insurance

Adjust funds based on market and life changes

Keep your goals in focus every year

Finally
You are financially stable and responsible already

But a second house now is not needed

Instead of loan, choose investments for long term

Control current high EMIs before taking new ones

Stop gold kitty and LIC policy

Redirect to mutual funds for wealth building

Build strong retirement and emergency fund

Stay away from unnecessary real estate burden

With structured planning, your financial future will be strong

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

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x