Living on Rs. 35,000 AND TRAPPED IN LOANS |Fix Your Finance Ep.47

Use my code AA56B553 and get upto Rs. 500 amazon voucher after purchasing the plan!

Hello guys, welcome to another episode of Fix your Finance. In today’s episode, we meet 29 year old Lokesh, an engineer. Lokesh has been working as a marketing manager in a Bangalore-based startup for ~5 years. We talk about his income, expenses, investments, his habit of impulsive buying, why he had to take a loan at 36% and 26% and the importance of having an emergency fund. In this episode we also share a new method to curb the habit of impulsive buying for anyone struggling with the same.

and much more!

Enjoy :)

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GEARS BEHIND THE VIDEO:

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#fixyourfinance #personalfinance #moneymanagement

Disclaimer: Neither the guest nor I am a SEBI registered investment advisor. Information shared is only for educational purposes and not investment advice.

Music licensed by Epidemic Music

[anshumanfinance]

Use my code AA56B553 and get upto Rs. 500 amazon voucher after purchasing the plan!

[nakulm]

Example of rock solid aspiration!!

Question 1 - What is your biggest aspiration.
Ans- 3Bhk villa

Question 3- What would you choose between luxury Home (i.e.
3bhk Villa) or a luxury vacation

Answer- LUXURY VACATION

30 sec me hi Biggest aspiration changed 😢😮

[arjunps]

I think this is one of the best episodes of your series. The first step to solve a problem is to recognise that there is one. Lokesh has identified his problem and I'm sure he'll be able to solve it. All the best to him.

[ravilla.lokesh]

Thank you so much, Anshuman, for coming over and sharing your valuable financial advice! I've been diligently following your guidance, and I'm committed to improving my finances in the days ahead. Your insights have been incredibly helpful!

[ashish]

This is the kind of video which a lot of people can relate to, classic mistakes of lending to friends/family and getting excessive debt. Kudos to lokesh for being brave enough to share his situation on a public forum.
Edit.
One of the reasons why a lot of people including me may relate to this video is the income bracket of the individual being interviewed.

[yashpatil]

Only 15-20k perfume dude I earn more than per month still using Kama Sutra deodorant worth 200₹😂😂😂

[sonusuresh]

It takes courage to accept your mistakes and then take steps to make changes. This is the best episode so far. I could relate to lokesh's story.

[avisheksaha]

1. Go buy a health insurance for urself n ur pairents
2. Take a term insurance
3. Emergency fund= 6*monthly expenses (including all ur sip)
4. 60% of your savings funds in Hedgh funds
5. 10% in SGB
6. 10%-20% in us stock
7. 10% in REIT or commercial property

Your finance in mostly shorted

*Debt is good when you purchase assets with it not liability

[themboys]

Job surance is a scam. I bought it and 3 months later my job was cut. I submitted the termination letter also they rejected it and they never gave any placement support.

[nakulm]

“I watch TV while working from Home”. That explains everything about his current situation.

[PritamShaw]

I'm currently 21, these videos actually help me to learn from other people's mistakes.

[aestheticvoyager]

Probably the most genuine guy across all your podcasts.

[sanatani_yogi]

Kudos to Lokesh for sharing his income, mistakes & other points without hesitation 👌🏻👌🏻
This will help others to relate

[earntotrade]

Lokesh is really honest :) god bless you brother

[watashiwa_aditya]

1k for bed rent i mean being from tier 3 city it's plain stupid

[diptasundarsarkar]

I had the same problem with impulsive buying....I was in deep debt....Then someone came into my life to solve all my financial a girlfriend...but a true friend...who helped me solve my impulsive buying problem....I still have a loan ...but The EMI is below 5 Percentage of my in hand salary....I can relate to this kinds of episodes should be done regularly....

[Happysoul_]

Bro I feel some people have money but no friends but atleast you are lucky to have friends with whom you can enjoy and party. Just cut some expenses on luxury/ branded items. Impulsive spending only gives anxiety and we get ourselves trapped. People can still stay satisfied without owning so many luxury items, trust me.

[ashisdash]

He did a blunder but excellent thing is he is now rectifying it . Awesome

[AnkitG]

No offence to him . But he is completely messed up in his personal finance . Thank you for sharing brother. We got to learn from your mistakes.

[SD_]

OMG!!! I felt uneasy hearing his story. Hope things get better for you soon brother 👍