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Anu

Anu Krishna  |1449 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 29, 2023

Anu Krishna is a mind coach and relationship expert.
The co-founder of Unfear Changemakers LLP, she has received her neuro linguistic programming training from National Federation of NeuroLinguistic Programming, USA, and her energy work specialisation from the Institute for Inner Studies, Manila.
She is an executive member of the Indian Association of Adolescent Health.... more
Sameer Question by Sameer on Mar 28, 2023Hindi
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Relationship

Maam sir good morn.I m K.S .i am.the sole bread earner of my.family .i m 52 and do.not have a job. I m not a spend thrift but due to lot of loans i have taken for education etc i m totally stressed up. I.get depressed and do not have the motivation to move ahead in life. I want to clear up all my dues and i fight day in and day out to find a job but to.no success. Finance are getting.lesser.. I m on the verge of breakdown. Plz help.

Ans: Dear KS,
First things first. A lot of decisions have gone wrong. It cannot be erased, but certainly you must find a way of recovering from it.
Yes, it is highly disheartening, but once you decide that you want to be in a better place, you have to take certain actions to reach that better place.
So, time to quit being upset and taking firm actions on what to do next to get out of this situation that you are in.
Seek the help of someone within your family or friends circle who is strong with their finances and managing their monies well. Of course, they must be someone you trust as well. Share everything with them (you need the help, so kindly be truthful and honest with them).
Let them put together a plan of action that manages your existing financial resources and inbound channels and match that with all the payments and debts.
Allow them to 'advise' you as you need this strong advice right now. Discuss what's possible and what's not and they will come up with something that is close to perfect.
Once, you start with the first small baby step. things start to look up. Even clearing a small debt will take a load off your chest. So, get into that action mode NOW. And yes, do promise yourself that this situation is teaching you a lesson on how to be financially prudent and that you will learn from it.

Best wishes and look bright and happy NOW!

You may like to see similar questions and answers below

Anu

Anu Krishna  |1449 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 18, 2023

Asked by Anonymous - Dec 11, 2023Hindi
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Relationship
Hi Anu,Iam completely in to a bad a stage.I lost my job,my son is a disabled kid doesn't have money to run future completely in hell Been a banker for 19 years and not getting any jobs outside Please suggest what should be my next step
Ans: Dear Anonymous,
I do hear you...
It is perhaps time to do something different. You have a wealth of experience of 19 years and it can be put to good use.
Independent consulting in Wealth management maybe something that you might want to consider. There are courses online that help you get initiated in this and using your Banking knowledge it maybe possible to consider this option.
Also, speak with your close circle of friends and family and take their advice as well. It will also help you to take strategic advice from someone in your field and who has also is updated with all the current happenings. Someone senior is what I suggest...
What you need is some direction which this expert in your field can offer...what else you need is some confidence, which you need to instil within yourself.

When something does not work, do something else for a different result...But giving up hope is the worst option...Push yourself to think different and ask:
What else can I do to make things work?
What can I do differently than before for things to align better for me?
How can I keep my state of mind upbeat even though things are not going well for me?

Asking useful questions can change the course of one's life...So keep at it please...

All the best!

..Read more

Ramalingam

Ramalingam Kalirajan  |7593 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Aug 14, 2024

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Money
Hi, I'm having 10lakhs of debts because of credit card and loans almost half of that is just charges and interest. I just earn 25-30k per month. Bank agents are coming to home daily. Its giving me mentally so much pressure and unable to do or think anything. Suicide thoughts are running in my mind. I wish to do settlement of everything. How do i do, I dont even have enough money to pay that as well. I was working since 6years 90% of my earnings has been paid towards bank now i cant keep paying. I want to live my life earn something for me and my family. I wanted to buy a home but i cant even buy a home toy for myself. Please someone help me.
Ans: It's essential to recognise that your situation is serious and needs immediate attention. You're facing significant financial stress, but there are steps you can take to manage this situation. It's commendable that you're reaching out for help, which is the first step toward resolving your financial challenges.

Understanding Your Debt Situation
You have Rs. 10 lakhs in debt, mostly from credit cards and loans. The charges and interest have made it difficult to repay. Your monthly income of Rs. 25,000-30,000 is insufficient to manage these debts effectively. The pressure from bank agents is adding to your mental stress, which needs to be addressed immediately.

Emotional Well-being and Mental Health
Your mental well-being is as important as your financial situation. Experiencing suicidal thoughts is a sign that the pressure has become overwhelming. Please consider speaking to a mental health professional immediately. They can provide you with the support you need to navigate this difficult period.

Immediate Steps for Debt Management
1. Prioritise Your Mental Health:
The stress of debt can cloud your judgment. Take small steps to manage your mental health. Reach out to trusted friends, family, or a counsellor who can offer support.

2. Assess Your Debts:
List all your debts, including principal amounts, interest rates, and due dates. This will give you a clear picture of your financial obligations.

3. Negotiate with Creditors:
Contact your creditors to negotiate better terms. Explain your financial situation and request a reduction in interest rates or a more manageable payment plan. Creditors might agree to a settlement amount that is less than what you owe, but it will require a lump sum payment.

4. Consider Debt Consolidation:
If possible, consolidate your debts into a single loan with a lower interest rate. This can simplify repayments and reduce the overall interest burden.

5. Stop Using Credit Cards:
Stop using credit cards to avoid further debt accumulation. Focus on paying off existing balances.

6. Create a Budget:
Create a strict budget that focuses on essential expenses. Allocate any remaining income toward debt repayment.

7. Look for Additional Income:
Consider taking up a part-time job or freelance work to supplement your income. Even a small increase in income can help you manage your debts better.

8. Explore Financial Assistance:
Seek assistance from a Certified Financial Planner (CFP) who can provide guidance tailored to your situation. They may help you find government or non-profit programs designed to assist people in financial distress.

Long-term Financial Planning
1. Build an Emergency Fund:
Once your debts are under control, focus on building an emergency fund to avoid falling back into debt. Start small, even if it's just Rs. 500 per month.

2. Rebuild Your Credit:
Work on improving your credit score by paying your bills on time and keeping your credit utilisation low.

3. Start Saving for the Future:
Gradually start saving for your future goals, such as buying a home. Start with small, regular contributions to a savings account or a low-risk investment.

4. Educate Yourself Financially:
Take the time to learn about personal finance, budgeting, and debt management. This knowledge will empower you to make better financial decisions in the future.

Addressing Your Emotional Well-being
1. Reach Out to Support Groups:
Join support groups for people facing similar financial challenges. Sharing your experiences and hearing from others can provide relief and practical advice.

2. Practice Stress-relief Techniques:
Engage in activities that help reduce stress, such as meditation, exercise, or spending time with loved ones. These activities can improve your mental clarity and resilience.

3. Maintain Open Communication:
Discuss your financial situation with your family, if possible. They can provide emotional support and might help you in finding a solution.

Finally
You are in a challenging situation, but you have options. Taking small, steady steps can lead to significant improvements over time. Focus on both your financial and emotional well-being, and don't hesitate to seek professional help when needed.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Ramalingam

Ramalingam Kalirajan  |7593 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jan 21, 2025

Asked by Anonymous - Jan 20, 2025Hindi
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Money
Hello sir, I am 35yo with 2 (4yo, 1yo) children. Can I retire now, with following corpus: mutual fund and stocks : 3.5 crore, lands: 50 lakh, PF&PPF: 80 lakh, FD: 25 lakh, SGB &Gold:50 lakh. Currently doesn't own any house. Monthly expense is around 1 lakh.
Ans: Your corpus and monthly expenses show a solid foundation. Retirement at 35, however, requires careful assessment. Let’s analyse your situation step by step.

Current Financial Assets and Allocations

Mutual Funds and Stocks: Rs 3.5 crore

This is a significant part of your corpus. Equity investments offer high growth potential.

Lands: Rs 50 lakh

Real estate investments are illiquid. Consider them only for long-term growth or inheritance.

PF and PPF: Rs 80 lakh

These provide stability and assured returns. These are good for meeting long-term goals.

Fixed Deposit: Rs 25 lakh

FDs are low-risk and ensure liquidity. This is beneficial for emergencies.

SGB and Gold: Rs 50 lakh

Gold is a strong hedge against inflation. It also offers diversification.

Monthly Expense Analysis

Your monthly expense of Rs 1 lakh equates to Rs 12 lakh annually.

Accounting for inflation, this expense will grow over time. Planning for this is crucial.

Core Observations

Your total corpus is Rs 5.55 crore. This is substantial for your age.

Inflation and rising expenses over time will impact your corpus.

Without a house, rent becomes a recurring expense. Factor this into your calculations.

You have no guaranteed income sources post-retirement.

Key Areas of Improvement

Housing

Consider buying a house if feasible. Owning a house ensures stability and reduces rent.

Do not invest excessively in real estate as it is illiquid.

Corpus Utilisation

Avoid over-reliance on equity investments for withdrawals. Equity is volatile in the short term.

Use a mix of debt and equity for regular withdrawals.

Children’s Education and Marriage

Both are major financial goals. Plan dedicated investments for these.

Use long-term instruments for education and marriage funds.

Emergency Fund

Maintain an emergency fund of at least 12 months of expenses.

Keep it in liquid funds or high-yield savings accounts.

Recommended Financial Strategies

Asset Allocation

Diversify your portfolio across equity, debt, and gold.

Maintain 60% equity, 30% debt, and 10% gold as a starting point. Adjust as needed.

Mutual Fund Investments

Continue with actively managed funds. These can outperform index funds in emerging markets like India.

Avoid direct funds if you lack time or expertise. Regular funds offer advisor support and insights.

Debt Investments

Increase debt allocation for stability. Consider high-quality debt mutual funds.

Ensure these align with your withdrawal needs.

Tax Planning

Monitor tax implications of mutual fund withdrawals.

LTCG from equity funds above Rs 1.25 lakh is taxed at 12.5%.

Plan withdrawals to minimise tax liabilities.

Insurance Needs

Ensure adequate health insurance for your family. Cover at least Rs 25 lakh for each member.

Check if you have term insurance. Secure Rs 2-3 crore coverage for your family’s financial safety.

Inflation and Lifestyle Adjustments

Inflation can erode your purchasing power. Plan investments to counter inflation.

Avoid lifestyle inflation. Stick to essential expenses wherever possible.

Income Generation Options

Systematic Withdrawal Plans (SWP)

Use SWP from mutual funds for regular income.

Choose hybrid funds for better stability and returns.

Rental Income

Invest part of your corpus in commercial properties.

Ensure this aligns with your liquidity needs and risk profile.

Freelance or Part-Time Work

Consider light work for additional income. It can extend your corpus.

Use your skills to generate flexible income streams.

Monitoring and Review

Review your portfolio annually. Adjust allocations as goals evolve.

Work with a Certified Financial Planner for periodic checks.

Final Insights

Retirement at 35 is ambitious but achievable with meticulous planning. Your current corpus is strong, but consider the following:

Plan for inflation, children’s needs, and healthcare costs.

Diversify investments and secure guaranteed income sources.

Avoid premature decisions. Evaluate thoroughly before retiring.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

Ravi

Ravi Mittal  |508 Answers  |Ask -

Dating, Relationships Expert - Answered on Jan 20, 2025

Asked by Anonymous - Jan 11, 2025Hindi
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Relationship
I am a 20 years old guy and in my past romantic relationships, have shown signs of emotional instability, too much dependency and lack of awareness of boundaries which affected my relationships badly...I hadn’t interacted with people in a long while since 2020 (precisely when lockdown had started) and feel that some aspects of my personality are not developed fully as they should be at this age. How to work on this? Also, i have noticed that I am able to create a good first impression but it soon pales and I feel like I am subtly disrespected or talked down to, and this has been happening in all interactions...i am always respectful (often to a fault!) and even have people pleasing tendencies...i sometimes ask immature weird questions and that might probably be the reason (but they’re never inappropriate)...but i do want to gain insights into why i am experiencing what i am and how to navigate this situation well so that I can maintain healthy relationships in future. Thanks you!
Ans: Dear Anonymous,
First of all, I want you to understand that it is no small feat to realize the quirks and imperfections in ourselves- you have done it. Your effort to understand and rectify them deserves to be acknowledged and appreciated.
Now, coming to your question, I can only give you some general advice on each-
Emotional instability and dependency- these behavioral patterns can stem from various factors; it can be a lack of confidence or some past issues that are left unresolved. It is difficult for me to tell you exactly why it is happening. It can also arise from a lack of validation. To manage it, you can focus on self-regulation- like meditation or journaling whenever you feel these emotions rising. This way you are expressing them but not damaging your relationships. Take up new hobbies or goals. Achieving milestones can build confidence.
Navigating Boundaries- You can speak to your partner in the early stage of the relationship to understand their boundaries. This way there will be clarity and you won't overstep. You can set up some boundaries too.
For better interpersonal skills, you can proactively follow some rules- like active listening, avoiding overthinking, asking open-ended questions, and resisting the urge to seek your partner's approval.
About the awkward questions- it is important to understand that you might perceive them as awkward, but the person opposite to you might think of it as a genuine curiosity. As long as it isn't intrusive or inappropriate, there are no awkward questions.
Like these, I can only offer you some general advice. But the best advice of them all would be to seek counseling. It has done wonders for people. And the first step, which is identifying the issues is already done. Bravo! What's wrong with taking a little professional help in navigating the next steps? They can guide you in a more structured manner.
Hope this helps.

...Read more

Kanchan

Kanchan Rai  |499 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 20, 2025

Asked by Anonymous - Jan 09, 2025Hindi
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Relationship
I’ve been in a relationship with a girl for the past 4 years, but due to various issues, things have become extremely complicated. Her father doesn’t approve of me, and my mother doesn’t like her either. Despite this, we’ve managed to stay together all these years. The problem is now escalating. My family is pressuring me to marry someone else, but I’m unable to leave her. At the same time, I feel I can’t marry her either because of her behavior and the ongoing issues with my family. I’ve tried to ask her to change certain things, but she hasn’t made any efforts in that direction. To make matters worse, her mother supports our relationship and trusts me, which makes it even harder for me to walk away. I don’t want her to marry someone else, but I also feel stuck because of my family’s expectations and the challenges in our relationship. Even If I leave her I don't know what she is going to do. What should I do in this situation to make the best decision for everyone involved?
Ans: it's crucial to reflect on what you truly want and need from a relationship. Ask yourself if this relationship brings you the happiness and fulfillment you seek, or if the challenges you face are too significant to overcome. It's important to differentiate between staying out of love and staying out of fear or obligation.

Talking to your partner openly is essential. Share your concerns honestly and listen to her perspective. If there are changes you've hoped for, express why they matter to you. At the same time, recognize that change is a two-way street—it requires effort and willingness from both sides. If she hasn't made efforts in the areas you've discussed, it may be worth considering whether this is a pattern that can be changed or a fundamental mismatch in expectations.

Your family's disapproval complicates things further, but it's important to remember that this is your life and relationship. While their opinions are significant, they shouldn't be the sole deciding factor in your happiness. Balancing respect for their wishes with your own needs is a delicate task, but ultimately, you need to make a decision that feels right for you.

If the relationship feels unsustainable despite your efforts, it may be time to consider a different path. It's understandable that you’re concerned about her well-being, especially given her mother's trust in you, but staying out of guilt or obligation can lead to further unhappiness for both of you. If you decide to part ways, doing so with kindness and honesty can help mitigate some of the hurt.

Ultimately, this decision is deeply personal. Weighing your feelings, the relationship dynamics, and your family's expectations will guide you toward a resolution that prioritizes your well-being and future happiness.

...Read more

Kanchan

Kanchan Rai  |499 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 20, 2025

Asked by Anonymous - Jan 09, 2025Hindi
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Relationship
My age is 41 years. I have two kids. Nurturing n looking after them n whole home single handedly. I am a visiting faculty in a institute . Earns very nominal earning. My husband hits me, taunts me and use very arrogant words to me like tumhe belt se maarunga n similar many worst words. His family has been always unsupportive to me . Now after 16 years of marriage, he still wants me to please his mother n other family. Which I completely avoid as they have never supported me and always boycotted me. His real brother is in politics and all family members including his cousins do follow him and boycotted me n husband. Now for everything my husband blames me and says if you gave pleased them, all might have good. But inspite of pleasing them a lot , they are like treating me like I am a stranger. I handle n manage everything still by the end of the day.... everything is in vain. Husband says...What you did for home? I will never ever give my money to you and so on. I am literally in trouble thoughts, what to do ? I even many times thought to end my life but my kids are the reason I continuously bears everything. Please suggest what shall I do.
Ans: it's important to acknowledge that no one deserves to be treated with such disrespect and abuse. Your feelings of isolation and frustration are valid. It can feel overwhelming when the people who should support you instead make you feel like an outsider.

In situations like this, it’s crucial to find support outside the immediate family. Reach out to trusted friends, family members, or support groups who can offer you emotional strength and practical advice. Consider speaking with a counselor or therapist who can help you navigate these complex emotions and provide strategies for dealing with the abuse and stress.

You’ve shown immense resilience, especially for your children. They need you to be strong, and seeking help is a vital step in preserving your mental and emotional well-being. Remember, prioritizing your health is not selfish; it’s necessary for you and your children’s future.

Also, explore any legal avenues or resources available for individuals in abusive relationships. Local support organizations, legal aid, or women’s shelters can provide advice and assistance if you decide that leaving the relationship is the best option for your safety and well-being.

You have already shown great courage by managing so much on your own. Continue to seek out support and know that you are not alone in this journey. There are people and resources willing to help you find a path to a healthier and more secure life.

...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.

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