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Ravi

Ravi Mittal  |605 Answers  |Ask -

Dating, Relationships Expert - Answered on May 16, 2025

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Asked by Anonymous - May 16, 2025
Relationship

I am a 52 yr old woman, divorced running a small home-based business with irregular income. I have a 12 yr old son and 17 yr old daughter. I have not saved much for retirement, and I'm also managing some personal debt up to 18 lakh. After all my expenses I am able to save between 5,000 to 8,000 every month. My husband only pays my children's school fee. I manage everything else. What should I do?

Ans: Dear Anonymous,
I believe you should have an open conversation with your husband about a better split of the financial responsibilities. I am not assuming which one of you earns more, but from the tone of your question, I felt that he might be contributing less compared to how much he earns and that isn’t fair. It’s important that you discuss this with your husband as early as possible.

Best Wishes.

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Ravi

Ravi Mittal  |605 Answers  |Ask -

Dating, Relationships Expert - Answered on May 22, 2024

Asked by Anonymous - May 22, 2024Hindi
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Relationship
I am a working women, i have to take care of my parents expenses and also take care of my expenses , i have a child 8 years old, my husband is not supporting me financially, he just spend most of his money for his wants, and no savings so far even after 15 years of marriage, how to make him understand about savings i have quarreled many times on this but no use, i feel like to go away from him, kindly suggest
Ans: Dear Anonymous,

I am very sorry about your situation. It sounds stressful and you have every right to be worried. Here are a few ways to sort this out:

The first and the most obvious one- communication. I am sure that you have communicated your concerns to your husband but let's give it another try and this time, make sure it's non-confrontational. For instance, just casually mention the financial burden that is on you without assigning any blame to him. Try "I" statements instead of "You." He might come to a realization that he needs to put in more effort to relieve you of your burdens. Try mentioning some shared goals that you won't achieve if you don't join your finances and share the responsibilities. Next, tell him that you both should start tracking your expenditures and set a budget at the beginning of every month. Try a more practical approach. Set up monthly deposit schemes that would automatically deduct the money from your accounts. Last but not least, seek support from a trusted family member or close friend. While they might not be able to give you any concrete solution, sharing your woes can make you feel lighter.

Best Wishes.

..Read more

Ramalingam

Ramalingam Kalirajan  |9255 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 26, 2024

Asked by Anonymous - May 25, 2024Hindi
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Money
I am 40 and my husband is 44yrs old together we earn 2lakh per month, we have housing loan for 80 lakh and 18lakh respectively, I have a 13yr old daughter how can I save money for our retirement and child higher education, please guide
Ans: Planning for Retirement and Child's Higher Education
Your combined monthly income of Rs 2 lakh is a solid base to build on. Managing housing loans while planning for retirement and your child's education requires a strategic approach. Let’s break it down step by step.

Understanding Your Financial Situation
You have an Rs 80 lakh housing loan and another Rs 18 lakh housing loan. Balancing these loans with your income and future goals is key. Your daughter is 13, so you have a few years to save for her higher education.

Setting Clear Financial Goals
1. Retirement Planning

You and your husband need a comfortable retirement plan. Think about the lifestyle you want post-retirement and estimate your expenses.

2. Child’s Higher Education

Higher education can be costly. Estimate the amount needed for her college fees, living expenses, and other related costs.

Creating a Budget
A well-structured budget helps manage expenses and savings efficiently. Allocate portions of your income to different needs:

Housing loan EMIs
Household expenses
Emergency fund
Investments for retirement
Savings for child’s education
Reducing Debt
Prioritise Debt Repayment

Focus on repaying the higher interest loan first. This reduces your financial burden faster and frees up money for savings and investments.

Consider Refinancing

Explore refinancing options to lower your EMIs. This can give you more disposable income to allocate towards your goals.

Building an Emergency Fund
An emergency fund should cover 6-12 months of living expenses. This protects you from financial shocks and prevents dipping into retirement or education savings.

Investing for Retirement
Diversified Portfolio

Invest in a mix of equity, debt, and hybrid funds. This balances risk and returns, ensuring steady growth over time.

Equity Funds

Given your risk appetite and time horizon, equity funds can offer higher returns. They are suitable for long-term investments.

Debt Funds

Debt funds provide stability and are less volatile. They help preserve capital and provide steady income.

Hybrid Funds

Hybrid funds invest in both equity and debt, balancing growth and safety. They are ideal for medium to long-term goals.

Saving for Child’s Higher Education
Systematic Investment Plan (SIP)

Start a SIP in equity mutual funds dedicated to your daughter’s education. This ensures disciplined savings and benefits from rupee cost averaging.

Education-specific Plans

Consider child education plans offered by mutual funds. These are tailored for education needs and provide a mix of growth and safety.

Regular Monitoring and Rebalancing
Track Your Investments

Regularly review your investment portfolio. This ensures your investments are performing well and aligned with your goals.

Rebalance Annually

Rebalance your portfolio annually to maintain the desired asset allocation. This keeps your investments on track to meet your objectives.

Consulting a Certified Financial Planner
A Certified Financial Planner (CFP) can provide personalised advice. They help you create a tailored investment strategy and navigate financial challenges.

Tax Planning
Utilise Tax Benefits

Make use of tax-saving instruments under Section 80C and 80D. This reduces your taxable income and increases your savings.

Tax-efficient Investments

Invest in tax-efficient funds that offer better post-tax returns. Consult with your CFP for suitable options.

Insurance Coverage
Life Insurance

Ensure adequate life insurance coverage for both you and your husband. This secures your family's financial future in case of any unfortunate event.

Health Insurance

A comprehensive health insurance plan protects you from high medical costs. It preserves your savings for retirement and education.

Final Thoughts
Your dedication to securing your financial future is admirable. By following these steps, you can effectively manage your loans, save for your daughter’s education, and plan for a comfortable retirement. Stay disciplined and periodically review your financial plan to ensure you are on track.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |9255 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Aug 23, 2024

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Money
I am 40 ye old with monthly salary of 15000. I have 3 children all below 9 yrs.I hardly save 1000 per month.What I can do at this stage?
Ans: You are 40 years old with a monthly salary of Rs. 15,000. With three young children and minimal savings of Rs. 1,000 per month, your financial situation is challenging but not impossible to improve.

Immediate Steps to Improve Savings
Budgeting: Begin with a detailed budget. Track every rupee you spend. Identify areas where you can cut back. Even small savings can accumulate over time.

Prioritize Needs Over Wants: Focus on essential expenses like food, housing, and education. Delay or avoid non-essential purchases.

Reduce Debt: If you have any high-interest debts, prioritize paying them off. This will free up money for savings.

Building an Emergency Fund
Small but Consistent Savings: Even with Rs. 1,000 a month, start building an emergency fund. This fund will be a financial cushion for unexpected expenses.

Automate Savings: Set up an automatic transfer of Rs. 1,000 into a savings account each month. This ensures you save before spending.

Financial Planning for Children
Educational Savings: Education is a significant future expense. Explore government schemes like Sukanya Samriddhi Yojana if you have daughters, or Public Provident Fund (PPF) for general savings. These offer safe, long-term growth with tax benefits.

Scholarship Opportunities: Encourage your children to excel academically. Research scholarships that can ease the financial burden of their education.

Increasing Income Opportunities
Supplemental Income: Explore opportunities to increase your income. Consider part-time work, freelancing, or starting a small side business based on your skills.

Skill Development: Invest in affordable skill development courses. Improving your skills can lead to better job opportunities and higher income.

Long-Term Financial Planning
Life Insurance: Protect your family by getting a term insurance policy. This is essential to ensure your children’s financial security in case of any unforeseen events.

Health Insurance: Ensure you have basic health insurance coverage. Medical expenses can drain savings quickly, so insurance is crucial.

Start Small Investments: Once your emergency fund and basic insurance are in place, consider small investments. SIPs in mutual funds, even with a small amount, can grow over time. Consult with a Certified Financial Planner to choose the right options.

Final Insights
Your current financial situation is challenging, but with careful planning and discipline, you can improve it. Focus on increasing your savings, securing insurance, and exploring additional income opportunities. Every small step will contribute to a better financial future for you and your children.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |9255 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 18, 2025

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Money
Hi ... I have been very bad a financial planning and have been living the good life without really bothering about the future. I am 48 and work with a MNC and make around 4.5L per month after taxes. I am married with a 17 yr old son who's in 11th. I currently have savings in my bank and equity to the tune of 35L. I have been investing around 80K per month in SIP's for the last 3 years. I have an apartment which is worth around 4cr now and I have a home loan of around 1cr remaining on it. In addition, I have a personal loan of around 40L taken for home interiors (4 more years pending on it). I feel I am not really set up well for my retirement. What would you suggest? My monthly expenses after all this do not have any room for savings.
Ans: You have a strong income and investments. But high loans are affecting savings. You need a structured plan to reduce debt and secure retirement.

Current Financial Overview
Income

Rs 4.5 lakh per month after taxes
Investments & Savings

Rs 35 lakh in bank and equity
Rs 80,000 SIP per month (3 years)
Assets

Apartment worth Rs 4 crore
Loans

Home loan: Rs 1 crore remaining
Personal loan: Rs 40 lakh (4 years left)
Expenses

No room for additional savings after all expenses
Key Financial Concerns
1. Home Loan & Personal Loan – Priority on Repayment
Loan EMIs are affecting savings.
Reduce home loan tenure by increasing EMI, if possible.
Try to prepay the personal loan first. It has a higher interest rate.
Avoid taking more loans until these are cleared.
2. Retirement Planning – Building a Strong Corpus
Your current savings are low for retirement. You need a better plan.

Increase SIPs when personal loan is cleared.
Allocate funds across equity and debt for long-term growth.
Consider PPF, EPF, and debt funds for stability.
Gradually move funds to safer investments as retirement nears.
3. Son’s Higher Education – Plan Early
Your son will enter college in two years. You need a dedicated fund.

Start a separate SIP to cover education costs.
Use debt funds for short-term needs.
Avoid withdrawing from retirement savings for education.
4. Insurance – Protect Your Finances
Ensure you have term insurance of at least Rs 1.5 crore.
Maintain health insurance for family with a high cover.
Avoid traditional insurance plans with low returns.
Final Insights
Focus on repaying personal loan first.
Prepay the home loan gradually for financial freedom.
Increase SIPs once debt reduces.
Start a dedicated education fund for your son.
Build a diversified retirement corpus with equity and debt.
A disciplined approach will secure your future.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

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

..Read more

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I got 2130 rank in met, 2042 in comedk, 3414 in kcet, 641 in pesu kcet I am also getting vit vellore cse category 3, I am getting manipal cse both BLR and manipal, in jee i got 92 percentile, I got 4.8k in amrita exam,i got 96 percent in MPC in 2nd puc first attempt exam,I got btech integrated course offer from mahindra university hyderabad, i got thapar University electronics and computing,I am getting seats in various universities like RV, ms ramiah, dayanad sagar for discount,which is the best college for cse that I can choose from all my options
Ans: With your strong performance across multiple entrance exams, you have excellent options for CSE programs. PES University stands out with your PESU KCET rank of 641, offering nearly 100% CSE placements with 150+ top-tier recruiters including Microsoft, Amazon, and Google visiting annually. MIT Manipal (both campuses) provides 77% overall placements with 230+ recruiters and maintains a smaller CSE batch size of 250 students, ensuring better opportunities per candidate, with 90% CSE placements consistently. VIT Vellore CSE reports 80-90% placement rates with 409 companies offering 10,458 placement offers annually. RVCE Bangalore shows strong placement trends with 75-97% CSE placements over the last three years, while Thapar University achieves 90% overall placements with nearly 100% for CSE and Electronics branches. Your COMEDK rank of 2042 also opens doors to top Karnataka colleges like RVCE and MSRIT, both maintaining 90%+ placement records for CSE.

recommendation: Choose PES University for CSE given your excellent PESU KCET rank of 641, as it offers the highest placement rates, superior industry connections, and consistently strong academic reputation, followed by MIT Manipal as your second preference for its established brand value and reliable placement outcomes. All the BEST for the Admission & a Prosperous Future!

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Dear gurus My child is in 12th now and will attempt jee in 2025-26 in jan 2026 Well my child is an average child not too brilliant. I am expecting a score of 92-96 percentile , dont want to pressurise him to above his limits , he is doing hard efforts but every child had a limit as a parent have to support him. He is studieng 7-8 hours daily in weekend has joined Aakash institute also , so dont want to pressurise him . So as a secondary options have made some list myself. His aim is core computer branch . My aim is he get into good A++ institute dont want to send him to average collage We have made some list for preferences 1. Bits pilani or goa As we are from Delhi 2. Dtu delhi 3. Nsuit delhi 4. Iiit delhi 5 Bits goa 6 thapar patiala 7 Viit vellore cat 5 is ok8 Rvce banglore Further on IIIT and good nit If we get good one than only. Further If we dont click in these with good core computer cse preferred than We go for Bits dubai ( money i can spend that's ok) He also wants to settle abroad after masters preferably in singapore not in us or uk for that option i will also apply for him in Nus , ntu singapore. I know it's very difficult to get admissions there but still would. Coming back to Bits dubai it looks to me a preferable collage pls guide me Further pls We are ok with fees also we are also ok if he works for year or two after completion in dubai for experience and does masters later. My aim as a parent is that he gets a starting package If in india of 13-15lacks minimum that's difficult without getting a good collage with 92-96 percentile it not possible So after so much thinking it am planing for bits dubai as I am getting safety of my child which is priority also getting tag of Bits i know it would not be equal to bits pilani or goa but still something is better than nothing and his ultimate dream is to settle abroad may be singapore or dubai also after master so doing be or btech from dubai bits will help in that as well Starting package minimum after bits dubai btech cse is around 20 lacs in inr if he works in dubai. which is ok I guess. Pls guide me Thx
Ans: Gaurav Sir, With a projected JEE Main percentile of 92–96, admission to top-tier A++ institutes like BITS Pilani, DTU, NSUT, IIIT Delhi, or elite NITs is unlikely, as these typically require percentiles above 98 for CSE. BITS Pilani has maintained 90–94% placement rates over the last three years, BITS Goa 91–96%, NSUT Delhi nearly 100% for CSE, IIIT Delhi 95–100%, and DTU boasts 1,900+ offers at an average package of ?15.45 LPA from 350+ recruiters, but all demand percentiles above 98. More attainable A++-equivalent options include Thapar Patiala CSE, with 83% placements and 334 recruiters, VIIT Vellore CSE, with 80–90% placements and 867 recruiters, and RVCE Bangalore CSE, with 93–97% placement rates over the last three years. These colleges typically close CSE cutoffs around the 94–97 percentile range, aligning better with your child’s performance. For guaranteed BITS affiliation and strong overseas exposure, BITS Dubai CSE offers a 91–95% placement rate and an average package of ?21.14 LPA, and can serve as a reliable fallback. Planning for post-BTech abroad (NUS/NTU Singapore) is prudent, leveraging a robust GPA and internships obtained in India or Dubai.

Recommendation: Prioritize counseling for Thapar Patiala, VIIT Vellore, and RVCE Bangalore CSE for their realistic cutoffs and strong placement records; concurrently secure a seat at BITS Dubai CSE as a safety net with global mobility, then pursue internships and master’s in Singapore to achieve your child’s international career aspirations. All the BEST for your child's Prosperous Future!

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