My 20L Debt (35, IT Pro): How Can I Plan My Future & Marry?

Ans: You are already doing the right first step—seeking help.

Your concern is real and understandable.
Your intention to take charge is deeply appreciated.

As a Certified Financial Planner, I will guide you with a full 360-degree view.
Let us now assess your current financial situation clearly.

Your Present Financial Picture
You are 35 years old and work in IT.

Your annual package is around Rs.15 lakhs.

Monthly take-home income is about Rs.90,000.

You have debt of Rs.20 lakhs, with Rs.40,000 EMI.

You have no savings right now.

You are delaying marriage due to financial stress.

You expect future personal loans during or after marriage.

Understanding Your Financial Strain
Your EMI is eating almost half your monthly income.

You have no emergency fund for sudden needs.

You are using all your earnings to just survive and repay.

Future commitments like marriage may create new debt.

No financial freedom, no savings, no investment yet.

Mentally, it can feel suffocating and stressful every day.

First Step: Get Back Your Control
You must not take any more personal loans now.

Delay marriage further till you fix your base.

Don’t think marriage needs a loan. Start simple.

Marriage adds emotional and financial responsibilities.

Don’t add new debt until old debt is reduced.

Reduce Your Existing EMI Burden
Rs.40,000 EMI every month is very high now.

Try to consolidate multiple loans into one.

Take a longer-term loan with lower EMI.

Ask your bank or NBFC for a loan restructure.

Explore balance transfer with lower interest.

Try converting credit card dues to personal loan.

Your aim is to bring EMI under Rs.30,000 monthly.

Immediate Changes to Spending Habits
Create a strict monthly budget. Stick to it.

Track every rupee. Use mobile apps if needed.

Cancel all non-essential subscriptions and expenses.

Use cash or debit card only. No credit cards.

Avoid shopping, partying, unnecessary gifting.

Eat home-cooked meals, cut restaurant bills.

Rent smaller house or share room if needed.

Create Emergency Reserve Slowly
Even with tight budget, try to save Rs.5,000 monthly.

In 12 months, you will have Rs.60,000 saved.

Keep this money only for emergencies.

Do not invest this yet. Keep in savings account.

This gives mental peace and backup during crisis.

Start Basic Financial Discipline
Open a separate savings account only for saving.

Start one small recurring deposit of Rs.1000 monthly.

When bonus or incentive comes, save 50%.

If you receive tax refund, save full amount.

Treat savings as non-negotiable, like EMI.

Avoid These Mistakes
Don’t take new loans to repay old ones.

Don’t fall for loan apps or instant loans.

Don’t invest before building emergency fund.

Don’t believe in shortcuts like crypto or forex.

Don’t compare with friends or colleagues.

How to Think About Marriage
Marriage is not a financial goal.

But it needs emotional and financial readiness.

Don’t marry just because age is 35.

Talk openly with your future partner about finances.

Plan simple marriage within limits. No loan needed.

Be honest about your debt and plan to reduce it.

Once EMI Reduces, Do This
Your savings will start increasing.

Set target to save 30% of monthly income.

Start SIPs in mutual funds after 6 months buffer.

Use regular funds via MFD and CFP.

Direct plans are cheap, but not guided.

Regular plans give you guidance with discipline.

No index funds. Active funds perform better long-term.

Longer-Term Financial Goals
Once you save monthly, list goals on paper.

Retirement. Marriage. Children. House. Health.

Rank each goal based on urgency.

Assign time frame and rough cost to each goal.

Match your SIP amount accordingly.

Use a Certified Financial Planner to guide further.

Reduce Debt Faster When You Can
Any future salary hike—use 50% to reduce loan.

Any annual bonus—use 70% for lump sum repayment.

Target to close loan within next 3 years.

Don’t increase lifestyle even if income rises.

Stay with basic lifestyle until all debts cleared.

Build Positive Habits Daily
Read one personal finance article weekly.

Talk less about money stress, do more action.

Track expenses in a diary daily.

Save automatically by standing instruction.

Give yourself one small reward after each saving milestone.

Mentally Staying Strong and Focused
Your past spending cannot be changed now.

But your future is still under your control.

You are not alone. Many face this phase.

Step-by-step you will come out stronger.

Marriage can wait. Peace of mind comes first.

Family Support Can Help
If parents or siblings can help, take short support.

Not for luxury, but to reduce high-cost debt.

Don’t feel ashamed to ask if it helps life.

Keep them informed about your steps.

If You Want to Plan Better
Work with a Certified Financial Planner.

They give step-by-step handholding.

You stay accountable with someone reliable.

Mistakes reduce. Growth becomes disciplined.

Focus Areas for Next 3 Years
Cut EMI from Rs.40,000 to Rs.30,000.

Create Rs.1 lakh emergency savings.

Start SIP of Rs.5,000 after 1 year.

Close debt within 3 years.

Marry after your financial system is stable.

Final Insights
You are strong and aware of your situation.

Take one step at a time. Don’t rush.

Make your financial base solid first.

You can still have a good life ahead.

Focus on peace, not pressure.

You will recover from this phase gradually.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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