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Anil

Anil Rego  | Answer  |Ask -

Financial Planner - Answered on Feb 10, 2023

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Asked by Anonymous - Feb 02, 2023Hindi
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Money

mr anil, Is there any issue if father transfers or deposit 10 lacks as a financial help for my existing home loan or car loan payment?

Ans: You can choose to treat it as a gift or a loan from your dad depending on whether you need to return it. There is no gift tax between relatives.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |10902 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 15, 2025

Money
Sir i ihv home loan 16 Laks emi 15k monthly salary 1 laks . Other income after monthly expenses from my wife business 50 k
Ans: You and your wife are managing your finances well. Having a home loan with stable income is good. With Rs. 1 lakh salary and Rs. 50,000 monthly surplus from your wife’s business, you are in a strong position to plan long-term wealth. Let me give you a full assessment of your situation and steps to move forward smartly.

  
Understanding Your Current Financial Position

Your EMI is Rs. 15,000 monthly for a Rs. 16 lakh home loan.

  

Your monthly salary is Rs. 1 lakh, which gives good monthly cash flow.

  

Your wife contributes Rs. 50,000 monthly after her business expenses.

  

You have a total monthly income of Rs. 1.5 lakhs.

  

This gives a strong foundation for financial growth and long-term planning.

  

Smart Loan Management Strategy

Rs. 15,000 EMI is only 10% of total family income.

  

This is within a safe EMI limit. Keep paying it on time.

  

Don’t rush to prepay the loan aggressively. Instead, invest surplus smartly.

  

Keep 2–3 months’ EMI as emergency backup in a liquid fund.

  

Build Emergency Reserve First

Your priority should be to save 6 months’ family expenses.

  

Keep this emergency money in a separate bank account or liquid mutual fund.

  

This gives peace of mind if income is delayed or an emergency comes.

  

Don’t mix emergency fund with your investments.

  

Build Protection with Insurance

Take a pure term life cover of 15 to 20 times your yearly income.

  

Choose a term policy only, not investment-cum-insurance plans.

  

Avoid endowment or ULIP policies. They give low returns.

  

Take a family floater health policy for Rs. 10 to 15 lakhs.

  

Also take a personal accidental insurance policy.

  

Savings and Investments – Smart Allocation

Your monthly savings potential is high. Use it with planning.

  

Allocate 40% of monthly savings in mutual fund SIPs.

  

Use regular funds through a Certified Financial Planner for guidance.

  

Don’t invest directly. Direct funds give no advice or human help.

  

Regular funds through certified planners give better discipline and performance.

  

Choose a mix of diversified flexi-cap, large-cap, and mid-cap funds.

  

Prefer actively managed mutual funds. They beat markets long-term.

  

Avoid index funds. Index funds copy market returns with no alpha.

  

Index funds don’t protect during market falls. Actively managed funds do.

  

PPF for Safe and Long-Term Goal

Invest some money in PPF for long-term goals like retirement.

  

PPF is safe, gives tax-free returns, and builds discipline.

  

Lock-in works as an advantage for retirement corpus.

  

Invest every year to get compounding benefit.

  

Child’s Future Planning (If You Have or Plan Children)

Start early planning for future education and marriage.

  

Use equity mutual funds for long-term growth needs.

  

Use SIPs in child’s name to build long-term corpus.

  

Tag each SIP with the goal name like “Daughter's College Fund”.

  

Don’t Ignore Retirement Planning

Begin investing for retirement from today. Don’t delay.

  

SIP in mutual funds + PPF + NPS is good mix.

  

NPS gives tax benefit and helps save for retirement.

  

Invest monthly to benefit from compounding effect.

  

Don’t stop SIPs even during market corrections.

  

Avoid Gold Chits and Risky Options

Gold chit funds are risky and unregulated.

  

Instead, invest in sovereign gold bonds or gold mutual funds.

  

They are safe, give interest, and are tax-friendly if held till maturity.

  

Be Careful With Lifestyle and Expenses

Monitor your monthly spending. Track online purchases like Amazon bills.

  

Avoid using credit cards for EMI or unnecessary shopping.

  

Keep personal expenses within 20% of income.

  

Create a monthly budget and review it monthly.

  

Don’t Chase Fancy Investment Schemes

Don’t invest in Ponzi schemes or unknown chit funds.

  

Don’t fall for schemes promising fixed high returns.

  

Stick to tested options with long history like mutual funds, PPF.

  

Avoid investments without proper documentation and transparency.

  

Estate and Will Planning

Prepare a basic will to name your dependents as nominees.

  

Update all nominations in mutual funds, insurance, and bank accounts.

  

This avoids family disputes and smooths financial transition.

  

Tax Planning Tips

Use Section 80C for PPF, ELSS, and life insurance.

  

NPS gives extra Rs. 50,000 deduction under 80CCD(1B).

  

Use health insurance to claim under Section 80D.

  

Take help from a Chartered Accountant if taxes are complex.

  

Keep Financial Records Properly

Maintain separate folders for insurance, mutual funds, PPF, loans.

  

Store soft copies and passwords safely.

  

Share the location of these records with your spouse.

  

This ensures peace of mind during any emergency.

  

Investing Should Be Goal-Based

Don’t invest blindly. Link each investment to a specific goal.

  

Short-term goals: use liquid or short-term funds.

  

Medium goals: use hybrid funds or balanced advantage funds.

  

Long-term goals: use diversified equity funds and PPF.

  

MF Taxation Updates to Know

Equity fund gains above Rs. 1.25 lakh are taxed at 12.5% LTCG.

  

STCG on equity is now taxed at 20%.

  

Debt fund gains are taxed as per your income slab.

  

File taxes properly to avoid notices later.

  

Systematic Investment Review Is Must

Review SIPs every year with your planner.

  

Rebalance your portfolio if one type of fund grows too much.

  

Avoid switching funds often. Stick to plan for long term.

  

Don’t stop SIPs during market dips. Stay consistent.

  

Reinvest Any Windfall Wisely

If you receive bonus or gifts, don’t spend all.

  

Put them in your emergency fund or increase your SIPs.

  

Build wealth slowly and steadily. Avoid shortcuts.

  

Plan for Future Life Milestones

Save for child’s birth, education, your retirement, and family medical needs.

  

Review your goals every year and adjust investments accordingly.

  

Don’t follow friends blindly. Your goals are different.

  

Finally

You are already ahead by having home loan and family income of Rs. 1.5 lakh.

  

You have manageable EMI and a good monthly surplus.

  

Create a written financial plan with proper goals.

  

Avoid emotional investments. Focus on logic and long-term growth.

  

Stay patient. Wealth grows slow, not overnight.

  

Work with a Certified Financial Planner to guide and monitor progress.

  

You will reach your goals with discipline and clear direction.

  

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

..Read more

Ramalingam

Ramalingam Kalirajan  |10902 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 02, 2025

Money
Sir I am a central government pensioner aged 64 years drawing pension of Rs 80000 per month. I have a car loan taken in May 2023 with EMI of Rs 17900. Loan getting over in May 2028 Outstanding as on May 2025 is rs 5.26 lakhs. Personal loan taken during July 2023 with EMI of rs 7748. Outstanding as on May 2025 is rs 3.05 lakhs. Loan getting over in July 2029. Total outstanding as on May 2025 is rs 8.31 lakhs. Personal savings not encouraging and my spouse is a homemaker. Children are pursuing higher studies. Now I am in urgent need of Rs 1 to 1.5 lakhs. Hence i have decided to close both the outstanding loans by taking a personal loan of rs 9.21 lakhs for 6 years at 11.65% with EMI of rs 17839 thereby savings in emi of rs 7809 per month. I request you Sir to please advise as to whether this financial proposal is a worthy and beneficial to me. Or alternatively please suggest any other option deemed fit Regards Narasimhan
Ans: Understanding Your Current Situation

You are a central government pensioner aged 64 years.

Your monthly pension is Rs 80,000.

You have a car loan of Rs 5.26 lakhs outstanding.

You also have a personal loan of Rs 3.05 lakhs outstanding.

Together, your loan outstanding is Rs 8.31 lakhs as of May 2025.

Your car loan EMI is Rs 17,900, which will end in May 2028.

Your personal loan EMI is Rs 7,748, which will end in July 2029.

Your current monthly EMI total is Rs 25,648.

You want to take a new personal loan of Rs 9.21 lakhs for 6 years.

The interest rate for this new loan is 11.65%.

With this new loan, your EMI will be Rs 17,839.

This will reduce your monthly EMI outgo by Rs 7,809.

You plan to use the extra money saved for urgent needs of Rs 1 lakh to Rs 1.5 lakh.

Your spouse is a homemaker and you have children in higher studies.

Your personal savings are not encouraging.

Your main source of income is your pension.

Let us assess if this new loan will be beneficial for you.

Assessing Your Current Loan Burden

Your existing loans have EMIs totalling Rs 25,648.

This EMI is a significant portion of your pension income.

Paying Rs 25,648 from Rs 80,000 leaves you with Rs 54,352 for living.

Your personal expenses, family needs, and children's education costs must be managed with this.

You mentioned urgent need for Rs 1 lakh to Rs 1.5 lakh.

Taking a new loan might help you handle this immediate requirement.

But it is important to check if this new loan reduces your stress in the long run.

Evaluating the Proposed Loan Swap

You plan to take Rs 9.21 lakhs as a new personal loan.

The EMI for this loan is Rs 17,839 for 6 years.

Compared to your current EMI of Rs 25,648, you will save Rs 7,809 monthly.

The new loan will consolidate your existing two loans into one loan.

This will help you manage your EMIs better.

Your cash flow will improve with the monthly savings.

The Rs 7,809 monthly saving can be used for your immediate family needs.

This will also help you in meeting urgent expenses.

Analysing the Interest Costs

While this new loan helps monthly cash flow, total interest paid may increase.

You will be extending your loan tenure to 6 years.

Over 6 years, you may pay more interest compared to the original loans.

The longer tenure increases total cost.

But because your monthly EMI burden is lower, you might find it more comfortable.

You should consider if paying more interest is acceptable to you for immediate relief.

Balancing short-term comfort with long-term interest cost is key.

Alternatives to a New Loan

Let us also explore if there are other ways to reduce your loan stress.

Check if you have any savings in fixed deposits or recurring deposits.

If you have old insurance policies, you can check if loans can be taken on them.

If you have PPF or other small savings, partial withdrawal might help.

This can help you avoid taking a new loan.

It may reduce your total interest cost in the long run.

However, avoid breaking long-term retirement savings like PPF fully.

Reviewing Family Support and Additional Income Sources

Discuss with family members if they can support you temporarily.

Children or relatives may be able to offer a temporary loan.

This might be cheaper than a bank personal loan.

Explore if there are small part-time jobs you can do to boost income.

Even small extra income can reduce reliance on loans.

Emergency Fund Planning

You mentioned personal savings are not encouraging.

It is very important to create an emergency fund.

Emergency fund can help avoid new loans in future.

Even Rs 1 lakh set aside will help meet sudden needs.

Try to save at least 10% of your pension in a monthly plan.

Start small, but be consistent to build up this safety net.

Considerations on Current Expenses

Review your current monthly expenses carefully.

Identify any unnecessary spending you can cut down.

Even Rs 1,000-2,000 cut in expenses will add up over time.

The money saved can go into a monthly emergency fund.

This is very important as you are already retired.

Debt Consolidation Loan Impact

Taking the Rs 9.21 lakh loan is one way to reduce EMI stress.

It gives you monthly relief of Rs 7,809.

It also meets your urgent need of Rs 1 lakh to Rs 1.5 lakh.

But remember the total interest cost will be more over 6 years.

This is a trade-off between monthly comfort and total interest.

Role of a Certified Financial Planner

Working with a Certified Financial Planner can help you review your full financial picture.

A Certified Financial Planner can help you plan your cash flow.

They can help you create an emergency fund step by step.

They can also assess if the new loan is really best for you.

They will work with you to reduce your total debt burden over time.

They will suggest strategies to pay off debt faster.

Certified Financial Planners offer unbiased, expert advice for your goals.

360 Degree Financial Planning Approach

Let us take a 360 degree view of your situation:

You are retired with a steady pension.

You have two loans already.

You need Rs 1 to Rs 1.5 lakh urgently.

Your monthly EMI is very high compared to your pension.

You are considering a new personal loan to reduce EMI stress.

You also have family obligations and children’s education to consider.

Your spouse is not earning, so you are the sole breadwinner.

Emergency fund is not strong.

New loan will give relief now, but at higher total cost later.

If you have any insurance-cum-investment policies, check if surrender is wise.

Sometimes, surrendering and moving to better plans can give higher returns.

Avoid real estate investments at this stage.

They are not liquid and may create more burden.

Loan Repayment Discipline

Once you take the new loan, keep your EMIs regular.

Never miss payments to avoid penalties and credit score damage.

If you get any extra income, use it to part prepay the new loan.

Prepaying loan early will reduce total interest paid.

Even small part prepayments help in reducing your burden.

Insights on Emotional Stress and Financial Health

Carrying loan burden can create emotional stress.

Reducing EMI outgo helps you sleep better at night.

It gives peace of mind and freedom to meet daily expenses.

But remember to plan so that this does not become a long-term cycle.

Taking new loans repeatedly to repay old ones can become a habit.

Work to break this cycle with budgeting and planned saving.

How to Build Future Financial Security

Pension income is steady. Build a small saving plan from it.

Use monthly savings to build an emergency fund of Rs 1 lakh first.

Once emergency fund is built, focus on paying loan faster.

After loans are cleared, direct that EMI amount to monthly investment.

Mutual funds through a Certified Financial Planner can help grow savings.

Avoid direct investing or risky options that you may not understand well.

Certified Financial Planners give regular reviews to adjust for your needs.

Final Insights

Your idea to take a new personal loan to close old loans is understandable.

It will give you monthly relief of Rs 7,809.

It also helps you manage urgent needs of Rs 1 lakh to Rs 1.5 lakh.

But it increases total interest paid over 6 years.

Think if the relief in EMI is worth the higher total interest.

Explore help from family, partial withdrawals, or other support first.

Avoid real estate or risky investments now.

Work to build a small emergency fund over time.

Start a disciplined repayment plan and monthly savings plan.

Talk to a Certified Financial Planner to get a clear 360 degree plan.

This will give you comfort now and security for the future.

Your financial well-being is very important, so take it step by step.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

..Read more

Ramalingam

Ramalingam Kalirajan  |10902 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 29, 2025

Asked by Anonymous - Jul 06, 2025Hindi
Money
Sir mere pass loans hai 25 lakh ka aur agar m usko kisi s udhar maang k complete kr du to kya mujhe tax padega m tax bhi pay krti hu agar padega to kitna plss jankari dijiye
Ans: Appreciate your honest query. You are thinking practically. That shows financial awareness. Managing loan closure from borrowed funds is a big decision. Let us assess the tax angle from all sides.

? Loan Repayment with Borrowed Funds – No Direct Tax

Loan repayment is not considered income.

So, if you take money from someone and repay your own loan, there is no tax.

Income Tax Act does not tax money used for loan repayment.

No tax arises from repaying a personal, car, home, or business loan.

But certain other angles must be considered carefully.

? Borrowed Funds Must Be Properly Documented

If you borrow from a friend or relative, keep it documented.

Use a written loan agreement even for personal loans.

Mention amount, date, and repayment terms clearly.

If it is interest-free, mention that in writing too.

Without documentation, tax officers may treat it as income.

? Income Tax Rules on Gifts and Personal Loans

If someone gives you money without repayment clause, it becomes a gift.

Gifts from non-relatives above Rs 50,000 in a year are taxable.

But if it is a repayable loan, then no tax.

So never accept a large amount without a written loan agreement.

Avoid cash transactions above Rs 20,000. Prefer bank transfer.

? Maintain Clarity During ITR Filing

While filing income tax returns, disclose loan borrowed if asked.

Keep bank proof of both incoming and outgoing funds.

Any big cash deposits will raise red flags.

If you borrow and repay via account transfer, it is clean.

But large unexplained transactions attract tax scrutiny.

? If It’s a Business Loan, Consider GST/Accounting Rules

If your loan is linked to business, record it properly in books.

Mention interest if applicable.

Ensure it’s reflected in your profit and loss or balance sheet.

For salaried individuals, this may not apply.

? If You Use Borrowed Funds to Prepay Home Loan

If you repay a home loan from borrowed money, there is no tax.

But home loan interest benefit under Section 24(b) continues only for genuine interest.

You may lose the tax benefit if the original loan closes early.

Weigh tax deduction vs. mental relief carefully.

? Future Loan Eligibility May Get Impacted

If you repay loan using borrowed money, it lowers actual debt.

But credit report shows closure without income growth.

Lenders may question such repayment patterns in future loans.

So keep documentation strong and purpose clear.

? Don’t Take Loan from Unknown or Unofficial Lenders

Borrowing from informal or local moneylenders brings legal risks.

Their loans are not tax-linked but may have harsh repayment rules.

Also, they don’t issue receipts or agreements.

This creates audit and compliance issues in future.

? Large Personal Loans Must Follow These Guidelines

Prefer bank-to-bank transfer.

Mention purpose clearly in memo line.

Take PAN details of the person giving loan.

Keep a signed declaration that it is a loan, not a gift.

If interest is involved, keep it documented.

? Repaying Your Own Loan is Always Good

Loan burden creates mental and financial stress.

If you find a way to clear it, do it responsibly.

But tax rules must not be ignored in the process.

Loan-free status improves credit score and future cash flow.

? Avoid Loan Settlement with Banks if Possible

Loan settlement affects credit history.

Bank may write off part of loan, which becomes income.

That written-off part is taxable.

Always try to repay full loan, not settle it with bank’s compromise.

? If You are Paying Tax Already

The loan closure with borrowed money does not change your taxable income.

Your salary or business income will still be taxed normally.

There is no extra tax just because you took help to repay loans.

But the source of borrowed amount should be genuine.

? Future Tax Filing Needs Clear Trail

Income tax department watches large transactions.

So, keep written proof of loan borrowed and loan repaid.

Always repay through bank transfer, not cash.

Any big unexplained entry may invite notice.

Keep lender's PAN handy if needed in future queries.

? Personal Loan from Relative is Acceptable

Loan from spouse, parents, siblings is fully legal.

No tax if repaid properly.

But again, documentation is the key.

An affidavit or notarised paper can be used.

? Loan Forgiveness by Lender Has Tax Implication

If your lender later says you don’t need to repay, that amount becomes income.

In that case, you need to show it in your ITR.

Tax will be applicable as per your slab.

So always return the amount to avoid income classification.

? Loan Repayment from Business Account

If you use business account to repay personal loan, avoid mixing.

This may raise GST or audit concerns.

Keep personal and business banking separate.

Tax audit triggers get activated with unclear transactions.

? Don’t Use Undisclosed Sources

If money borrowed is not traceable to a person or bank, it becomes risky.

Tax officer may treat it as black income.

Avoid cash hand loans. Prefer digital methods.

Keep paper trail clean and updated.

? Financially, Loan Closure is a Positive Move

Interest saved improves long-term wealth.

Stress reduction is an invisible benefit.

Use this chance to start fresh with budgeting.

Build an emergency fund next.

Then start investing step-by-step.

? If the Rs 25 Lakh Loan is on Home

Check if you're claiming housing loan tax benefit.

After closure, tax benefit under Section 24 and 80C will stop.

But if stress is high, loan closure is still better.

Consult a CFP-backed MFD before stopping long-term tax-saving options.

? Tax on Loan Transaction Only Comes in Special Cases

Gift from non-relative above Rs 50,000 is taxed.

Loan waiver is taxed.

Undocumented cash loan attracts penalty.

Otherwise, regular loan repayment has no tax.

? Debt-Free Living Opens New Possibilities

You can start SIPs and insurance planning.

Health and term plans become affordable.

You can start investing toward goals.

Use this reset to improve cash discipline.

A CFP can help you structure this change wisely.

? Finally

Repaying your loan with borrowed funds has no tax impact if documented well.

Avoid cash, maintain proofs, and take written loan confirmation.

After loan is cleared, begin fresh with savings and investment planning.

Take guidance from a CFP-backed MFD for right product choices.

Financial freedom begins when loan burden ends. Start building wealth peacefully.

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

..Read more

Latest Questions
Reetika

Reetika Sharma  |432 Answers  |Ask -

Financial Planner, MF and Insurance Expert - Answered on Dec 18, 2025

Asked by Anonymous - Dec 16, 2025Hindi
Money
Hello Reetika Mam, I am 48 year having privet Job. I have started investment from 2017, current value of investment is 82L and having monthly 50K SIP as below. My goal to have 2.5Cr corpus at the age of 58. Please advice... 1. Nippon India small cap -Growth Rs 5,000 2. Sundaram Mid Cap fund Regular plan-Growth Rs 5,000 3. ICICI Prudential Small Cap- Growth Rs 10,000 4. ICICI Prudential Large Cap fund-Growth Rs 5,000 5. ICICI Prudential Balanced Adv. fund-Growth Rs 5,000 6. DSP Small Cap fund Regular Growth Rs 5,000 7. Nippn India Pharma Fund- Growth Rs 5,000 8. SBI focused Fund Regular plan- Growth Rs 5,000 9. SBI Dynamic Asset Allocation Active FoF-Regular-Growth Rs 5,000
Ans: Hi,

You can easily achieve your goal of 2.5 crores after 10 years. Your current investment value of 82 lakhs alone can grow to 2.5 crores assuming CAGR of 12% and monthly 50k SIP will give additional 1.1 crores, making a total corpus of 3.6 crores at 58.

But I see a problem with your current allocation. The fund selection is more aligned towards small caps of different AMCs and very concentrated and overlapped portfolio.
You need to diversify it so as to secure your current investment while getting a decent CAGR of 12% over next 10 years.
Focus on changing your current funds to large caps and BAFs and flexicaps and avoid sectoral funds.

You can also work with an advisor to get detailed analysis of your portfolio.
Hence you should consult a professional Certified Financial Planner - a CFP who can guide you with exact funds to invest in keeping in mind your age, requirements, financial goals and risk profile. A CFP periodically reviews your portfolio and suggest any amendments to be made, if required.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

...Read more

Reetika

Reetika Sharma  |432 Answers  |Ask -

Financial Planner, MF and Insurance Expert - Answered on Dec 18, 2025

Money
Hi, I am 32 years old, married, and have a 4-year-old daughter. My monthly take-home salary is 55,000 rupees, and my wife's salary is 31,000 rupees, making our total income 86,000 rupees. I am currently in a lot of debt. Our total EMIs amount to 99,910 rupees (total loans with an average interest rate of 12.5%), and even with my father covering most of the monthly expenses, I still spend about 10,000 rupees. This leaves me with a shortage of approximately 25,000 rupees (debt) every month. My total debt across various banks is 36,50,000 rupees, and I also have a gold loan of 14 lakhs. I cannot change the EMI or loan tenure for another year. I also have a 2 lakh rupee loan from private lenders at an 18% interest rate. My total debt is over 52 lakhs. Now, with gold and silver prices rising, I'm worried that I won't be able to buy them again. I have an opportunity to get a 2 lakh rupee loan at a 12% interest rate, and I'm thinking of using that money to buy gold and silver and then pledge them at the bank again. Half of my current gold loan is from a similar situation – I took a loan from private lenders, bought gold, and then took a gold loan from the bank to repay the private loan. Given my current situation and my family's circumstances, should I buy more gold or focus on repaying my debts? What should I do? The monthly interest on my loans is approximately 50,000 rupees, meaning 50,000 rupees of my salary goes towards interest every month. What should I do in this situation? I also have an SBI Jan Nivesh SIP of 2000 rupees per month for the last four months. I have no savings left. I am thinking of taking out term insurance and health insurance, but I am hesitating because I don't have the money. I am looking for some suggestions to get out of these debts.
Ans: Hi Surya,

You are in a very complicated situation. This whole debt trapped needs to be worked on very judiciously. Let us go through all the aspects in detail.

1. Your total monthly household salary - 86000; monthly expense - 10000 contribution as of now; monthly EMI - approx. 1 lakhs.
2. Current loans - 36.5 lakhs from various banks at 12.5%; Gold Loan - 14 lakhs; private lenders - 2 lakhs at 18% >> totalling to 52 lakhs.
3. 50k interest per month payable - implies capital payment is very less leading to more problem.

- Keen on buying gold with loan. This is where more problem will began. Avoid buying gold using loan.
- Your focus should be on reducing your debt instead of increasing it.

Strategy to follow:
1. Close the loan with higher interest rate - 2 lakh personal lender. This will reduce your EMI and give you more potential to prepay other loans.
2. Try and take financial help from your family in prepaying small loans from banks. This can reduce your burden.
3. If you have any unused assets, can sell them to pay off your loans.

Points to NOTE:
> Avoid taking any more loans.
> When your EMI burden reduces, do make an emergency fund of 2-3 lakhs for yourself for any uncetain situation.
> Make sure to have a health insurance for yourself and family.
> Can stop your investments for now. They are of no use if your EMIs are more than your income. Can start investing once your EMI's reduce atleast by 20-30% for you.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

...Read more

Reetika

Reetika Sharma  |432 Answers  |Ask -

Financial Planner, MF and Insurance Expert - Answered on Dec 18, 2025

Money
Hello Sir ; I am 55 years old & have decided to retire by end of 2025 . My wife is in teaching profession , earns appx. 3.5 L / annum & will continue her service till 2037( @60 yrs. of age ) . My only child is an intellectually disabled person ( with Autism ) , 14 years of age & will be incapable to earn . As on date , I have 60 L in MF , going to sell a property by end of this year @ 41 L ( it is fixed ) , appx 5L in Bank & postal FD . My wife have 45L in MF as on date & 3 fully paid premium ULIP policy which will be matured by 2030. She can get appx. 25 L from there . This is by and large my family financial status . Now , my queries to you that with this corpus , how we manage our ( myself & wife’s ) livelihood & most important that to manage a continuous cash flow for my disabled child till his age 65 i.e. 50 years from now . Primarily , I have thought of SWP & MIS schemes to get regular income for th retirement . My present family expense is appx. 1L per month . Therefore , I do seek your expert advice in this regards . I will be highly obliged if you kindly address to my query . thanking you , with best regards ; Suprabhat Jatty.
Ans: Hi Suprabhat,

Let us analyse all things in detail - one at a time.
1. 5L in Bank and FD - this is your emergency fund. But if there is a lock-in on the postal FD, you need atleast 5 lakhs in bank FD as your emergency fund.
2. Health Insurance - it is the prime requirement for you and your family. You should have one covering you, your spouse as well as your kid. It will help you in uncertain health conditions of youself and family.
3. ULIP Policy - Usually policies like such are not beneficial. But these are all paid-up, good point here. Whenever you get this, try to invest it in equity and hybrid mutual funds.
4. You will get 41 lakhs from property selling. Invest the entire amount in mutual funds, a mix of equity and debt funds.
5. Cumulative MF portfolio = 1.05 crores. As the entire corpus is huge, take the advice of a proper advisor on managing your overall investments and portfolio. A guided investment always generates better result than a random portfolio.

Your annual needs - 12 lakhs; Wife will earn - 3.5 lakhs till 2037. You need additional 8.5 lakhs per year to manage your expenses.
- You can initiate a SWP from your overall savings after allocating it in correct funds with the help of advisor.
- You need to have a dedicated corpus for your son's need in your absence. Atleast 50-70 lakhs should be kept solely for your son.
- The overall corpus seems insufficient to meet your requirements for now. You can either postpone your retirement and create an additional savings corpus for your future and son. Or you may consider to work on your monthly budget.

Do work with a professional advisor to guide you with exact funds to meet your desired goals.
Hence consult a professional Certified Financial Planner - a CFP who can guide you with exact funds to invest in keeping in mind your age, requirements, financial goals and risk profile. A CFP periodically reviews your portfolio and suggest any amendments to be made, if required.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

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Kanchan

Kanchan Rai  |648 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 18, 2025

Asked by Anonymous - Dec 17, 2025Hindi
Relationship
I am 43 years old married man, arranged marriage. Married for past 13 years with 4 kids (aged 2, 3, 10 and 13). I work abroad with good salary package and live with my family. My wife is MSc. and home maker. She teaches the kids and cooks and takes good care of kids. I am academic research scholar. From the start of our marriage, I noticed my wife does not open much and moderate religious person. I am also not very extrovert person. I work from 8 am to 5 pm in office which is walkable distance from my house. After coming from office, I help her in kichen daily, look after the kids, help kids in math, clean the house, put the yougest kid to sleep, then I get some 'me' time which happens only after 11:30 pm in the night. I dont use phone untill everybody is sleep or my kids dont allow me to use phone while i am playing with them. Now sometimes I feel we are just room mates with 1-2 times sex in a month. In terms of love with my wife, I initiate all the time, she never expresses love. I am not very possessive kind of person. She does not show any interest in my work and never ask me hows my day etc. She only smiles and rarely laught. I thought may be it will improve with time. There is no money issue, she buys what ever she likes. She has her own card and I provide extra money if she asks. I assumed may be she does not like me from the beginning but staying in marriage due to family pressure and kids. I am average looking person and dont accept everything what she says in terms of investment, holiday etc. I had accepted my fate. She started doing book writing and publishing online and now earning and keeping separate account, She is very excited about it and feels happy and shares with me the publication but not the earnings. I give suggestions and money what ever she asks for marketting and promotion etc. I am happy for her. Recently I came across an email in her phone which was from her ex. There was a long deleted chat, in summary they were madly in love but could not get married, i dont know the reason or even she never spoke about him. they kept chatting even after our marriage. Her ex got married and divorsed with one grownup kid. He is single and work abroad in a different country with good salary package (may be better than mine). She emailed him after long time I guess but now she is secretly chatting with him very often. she keeps her phone locked and deletes the chats. He is also interested and asking her to leave and marry him. She is not saying yes to him but regrets that she married me. At this point I dont know if I should talk to her regarding this but she will definitely be upset to know i checked her phone. Few years back we had a major fight (that time i didnot know about her ex), i had proposed for divorse and settle it mutually if she is not happy with me but she denied and stayed. I dont know what I should do to make her happy. we both are from very respected family in the society and I dont know if her parents knew about her affair. Even though she is chatting with him but she behaves very normal with me, no fight no argument, as if nothing is happening. I dont know whats in her mind, is she just casually chatting with him or buying time, waiting for the right moment to leave? Shall I file for divorse or accept my fate as room mates. Am I worrying too much?
Ans: First, let me say this clearly: you are not worrying “too much.” Your concerns are valid. When emotional connection, affection, and curiosity about each other’s inner worlds are absent for years, and when secrecy enters the relationship, it naturally shakes trust. The fact that she is emotionally engaging with a past love, hiding communication, and expressing regret about marrying you — even if not directly to your face — is not a small or harmless thing. It doesn’t automatically mean she will leave, but it does mean there is unresolved emotional business that cannot be ignored.
At the same time, it’s important not to jump straight to extremes like divorce or silent resignation. Right now, the most important thing is clarity — for you and for her. Living as silent roommates while carrying this knowledge will slowly erode your self-worth and peace of mind. You deserve honesty, and your marriage deserves a chance to be examined truthfully, not just maintained for appearances, family reputation, or routine.
If you choose to speak to her, the way you approach it will matter far more than the fact that you looked at her phone. Try not to lead with accusation or surveillance. Lead with your emotional reality. You can say something like: you’ve been feeling emotionally distant for a long time, you feel you’re always the one initiating closeness, and recently you’ve felt even more unsettled and insecure about where you stand in her life. You don’t need to reveal every detail of what you saw immediately; the goal is to open a conversation about emotional honesty, not to trap her in a confession.
Pay close attention to how she responds. Not defensiveness alone, but whether she shows willingness to reflect, to talk about her inner world, and to consider rebuilding emotional intimacy with you. A marriage can sometimes be repaired even after emotional betrayal — but only if both partners are willing to be transparent and actively work on reconnecting. If she avoids the conversation, minimizes your feelings, or continues secrecy, then you will have important information about where the marriage truly stands.
It’s also worth acknowledging something gently but honestly: your wife may have spent years emotionally closed not because of you alone, but because she never fully processed the loss of that earlier relationship. Her recent independence and success may have stirred unresolved emotions and old longings. That explains her behavior, but it does not justify secrecy or emotional infidelity. Understanding this can help you speak with compassion without sacrificing your boundaries.
Before making any legal decisions, I strongly encourage you to consider couples counseling, ideally with someone experienced in long-term marriages and emotional affairs. A neutral space can help both of you speak truths that feel too risky at home. It will also help you understand whether she wants to stay and rebuild, or whether she is emotionally preparing to leave.
As for “accepting your fate,” I want to be very clear: accepting a life where you feel invisible, undesired, and emotionally alone is not a virtue. It is a slow form of self-erasure. Your children benefit most not from parents who silently endure, but from adults who model honesty, self-respect, and emotional responsibility.
You don’t have to decide everything right now. But you do need to stop carrying this alone. The next step is not divorce or resignation — it’s an honest, calm, courageous conversation focused on emotional truth. From there, the path forward will become clearer, even if it’s difficult.

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Kanchan

Kanchan Rai  |648 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 18, 2025

Asked by Anonymous - Dec 16, 2025Hindi
Relationship
My husband doesn't lock the door when we have s**. This was the main reason for his ex-wife to divorce him. His parents feel that it is safer to keep the door unlocked in case of emergencies. But honestly,I feel awkward. I am not comfortable. Once his sister casually walked in to pick up some stuff, ignoring us on the bed. I was clothed but it still made me feel uncomfortable. We don't have a private bedroom but we use the bed at night. There are two shared wardrobes in the room which people need to access. I have explained this to my husband but he says I need to learn to adjust and work around it. Even if the door is closed, I always fear that someone might just walk in. What to do?
Ans: This is not a small preference issue. This is about personal boundaries and bodily autonomy. Even if nothing “bad” has happened, the fear of being walked in on is enough to make your body stay tense. That anxiety alone can affect your sense of dignity, desire, and emotional security. The fact that his ex-wife divorced him over the same issue tells you that this pattern is longstanding and not something you are imagining.
Your husband and his parents may frame this as “safety” or “emergency access,” but that argument does not hold when weighed against your right to privacy. Emergencies are rare; violations of comfort are happening now. A locked door during intimacy does not mean negligence—it means respect. Many families manage emergencies with simple alternatives like knocking, calling out, or keeping keys for true emergencies. What’s happening instead is that your need for privacy is being minimized, and you are being asked to suppress discomfort for the convenience of others.
The incident with his sister casually entering is especially important. Even though you were clothed, your body registered that as a boundary breach. The fact that it was brushed off is likely reinforcing your fear that this could happen again. Over time, this can quietly erode trust and sexual comfort—not because you’re “overthinking,” but because your nervous system is constantly on alert.
You need to shift the conversation with your husband away from “adjustment” and toward non-negotiable boundaries. This isn’t about arguing logic; it’s about stating a clear emotional and physical limit. You might say something like:
“I cannot feel safe or comfortable being intimate without privacy. This isn’t something I can adjust to. If intimacy continues without a locked door, I will start avoiding it—not out of punishment, but because my body feels unsafe.”
That’s not a threat. That’s honesty.
If the room layout is genuinely impractical, then the solution is not for you to tolerate discomfort, but for the household to change logistics—restricted access at night, fixed timings, or creating a private space. Privacy is a shared responsibility, not a burden placed on one person to endure.
If your husband continues to dismiss this after you clearly express it, that’s a deeper issue than doors. It signals a lack of attunement to your emotional safety, and that deserves serious attention—possibly with a counselor, especially given that this issue has already broken a marriage before.
You are not asking for something unreasonable. You are asking for respect.

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Anu

Anu Krishna  |1754 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 18, 2025

Relationship
Mam, I know some ways by which i can change my state of mind from lazy to working.. and having pressure/deadline helps to move on. But still I'm get trapped in guilt of actions and don't feel confident that next time i will be able to control myself..( cuz some actions give short pleasure/gratification easily.. but guilts also). And in all those silent, sad, depressed emotional time my Real working time gets wasted.. and feels like I just live in more guilt and saddness..even if it hurts. But don't wanna live like that!! What I do?
Ans: Dear Work,
Focus in any area of Life comes only when you realize WHY you are doing WHAT you are doing in that area.
For eg: If you decide to lose weight and just randomly join the gym without understanding WHY you are in the gym, a few days later, you will drop out. Mind you, that LOSING WEIGHT is not your reason; WHY do you want to lose that weight is the only thing that will keep you focused and motivated.
Hence, if you are giving into short term distractions, then obviously whatever it is that you are doing is not interesting you and so you get easily distracted.
Take one area of your life at a time; drop your goals in paper and mark a strong WHY against each. If it isn't motivating you enough, go back to the Drawing Board and do the exercise until you find that fire in your belly.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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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.

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