From Rs. 55,000 to Rs. 4 CRORE! | Money Matters Ep. 12 | Ankur Warikoo Hindi

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Money Matters is a series where I have conversations with normal people such as you and I, on your personal finance issues.

It is important to note that I am NOT a financial expert, I am NOT SEBI registered, and I am NOT qualified to give financial advice.

Everything that I say in these videos is purely through my own experiences.

- So these videos do not offer any stock tips, or specific mutual fund recommendations or get-rich-quick schemes.
- I am not selling any product or service through these videos.
- None of the brands that I mention in these videos have paid me to mention them, unless I explicitly say so (and I will say if the video is sponsored).

This also means that my advice may not always be the right advice. So incase I make a mistake, the best way to correct me will be to share your point of view in the comments, so that everyone can benefit from it.

I am not perfect, nor claiming to be either and would love to learn and grow.

The idea is simply to help people with their finance journey and through their story try to help others who may have a similar story.

In the latest episode of "Money Matters," I sit down with Tanmoy. During our conversation, Tanmoy opens up about his financial challenges, including managing multiple loans and feeling constrained by his monthly expenses.

Together, we devise a tailored strategy to address Tanmoy's loans, focusing on prioritizing high-interest debts and those with shorter durations. By restructuring his monthly budget and allocating specific funds towards loan repayment, we aim to accelerate his journey towards financial freedom.

Join us as we delve into Tanmoy's financial landscape, offering practical insights and actionable advice that may resonate with your own financial journey.

00:00 Introduction
00:33 About Tanmoy
03:04 Tanmoy's expectations from Money Matters
05:20 Current financials
16:10 How to clear all the loans?
25:17 Building an emergency fund
28:17 Investment Plan for Tanmoy
32:50 Tanmoy's reaction
34:05 Conclusion

#FinancialPlanning #MoneyMatters #warikoo

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My Money Apps:

The above links are for products that I personally use for my own investing. If you create an account on any of these using the above links, I stand to make a referral income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L. DO NOT assume that these are the best products in the industry. Please do your research and let me know if you have any questions.

My bestselling books:

My gear for shooting this video:

The above links are on Amazon. If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L.

Let’s connect online:
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Money Matters is a series where I have conversations with normal people such as you and I, on your personal finance issues.

It is important to note that I am NOT a financial expert, I am NOT SEBI registered, and I am NOT qualified to give financial advice.

Everything that I say in these videos is purely through my own experiences.

- So these videos do not offer any stock tips, or specific mutual fund recommendations or get-rich-quick schemes.
- I am not selling any product or service through these videos.
- None of the brands that I mention in these videos have paid me to mention them, unless I explicitly say so (and I will say if the video is sponsored).

This also means that my advice may not always be the right advice. So incase I make a mistake, the best way to correct me will be to share your point of view in the comments, so that everyone can benefit from it.

I am not perfect, nor claiming to be either and would love to learn and grow.

The idea is simply to help people with their finance journey and through their story try to help others who may have a similar story.


My Money Apps:

The above links are for products that I personally use for my own investing. If you create an account on any of these using the above links, I stand to make a referral income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L. DO NOT assume that these are the best products in the industry. Please do your research and let me know if you have any questions.

My bestselling books:

My gear for shooting this video:

The above links are on Amazon. If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L.

warikoo
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Every Youth of this country must watch this episode...this is the way to get out of debt and start investing asap

kirankittur
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step 1: stop SIP save 5k
step 2: clear 15k loan of bank asap
step 3: collect 20k money
step 4: go to your office HR and ask for salary advance and take ((55k/2) * 12) = 3.3 lacs but 22.5k will be deducted in your salary every month which is equals to all emis + sip
step 5: clear all loans with step 4 and step 3 money
step 6: delete all loan apps
step: 7: you should not do any extra activities for next 12 months as step 4 salary deductions will be for 12 months.
step 8: after 12 months you will be saved half of your salary + 3500 (current savings)
step 9: create Emergency fund
step 10: now you can start your tax saving SIP

sravankumar
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Felt my heart sinking as he was narrating all the loans !

swaminisumatmananda
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Brilliant way of tackling out a debt trap. When Tanmoy started narrating about his loans and the fact that he was not even aware of the interest rates of his ongoing loans, it gave me chills.... But the suggestions Ankur gave to Tanmoy was just brilliant. I hope Tanmoy clears all his debts soon and achieve financial stability... all the best 👍

srinjoymukherjee
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It is not easy to be vulnerable, thank you Tanmoy for showing courage and teaching many people watching this video about it.

tanvimehta
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Currently he has total loan of 3, 50, 000 with emi per month of about 19.5k. What if he take a loan 3, 50, 000 which will cost 3, 60, 000 after processing charges and documentation for 4 years. It will make emi of about 9, 500 every month.
He can pay off all his loans at once. Other than that, he will save 10, 000 in hand as compared to previous emi's. But he will be able to save the amount for emergency fund from just next month. And in next 10 months, he will have 1 lakh as emergency fund. Instead of waiting for Oct, 25. Other than that, if he wants to, he can make part payment of loan as per his convenience so as to pay it earlier.
But I feel he will be in comfort from just next month with this method.
As per current situation, what if he needs emergency fund of even 10, 000 in just 1-2 month. He will take another loan. Because as per this excel sheet, he will left with 0 every month.
The idea is good but practically not possible.

CMA_Jyoti_Singh_
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I really appreciate Ankur's approach to deal with people. He never questioned him about any of his loans and just kept information what required and provide one of the possible solution.👏👏👏👏👏

summitpictures
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Itne sare loans bharte bhrte ye aur loan lega because he has no emergency funds. In fact, these explanation only works on papers not in real life.

sandeepkumar-bnrd
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The middle class Salaried man right here. Around age 35-40 he will learn not to go for App loans and by that time his salary would be about 75k and he would have started saving. So, nothing to worry about.

Kartha
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No point in investing in elss at this point as you can opt for new tax regime and you will be tax exempted till 7.5 and assuming total income is less than 7.5 based on what you have told. You can clear your loans even faster what is told in the sheet

DhruvRanaJaat
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This won’t work, not at all sustainable. Focus on finding a cheaper place to live, focus on switching and increasing salary. Any bonus / gift received should go to paying off loans. Non essential stuff should be sold off on olx/ebay, again to pay off loans. Start a second job/work on weekends/overtime to pay off loans.

tanaydash
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This was an eye opening episode!! Hats off Ankur, you are actually connecting with a common man and helping them solve their financial crisis. People might find your content repetitive but you are determined to get people financially disciplined. 🙌🏻

skhanse
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Hi Ankur. This podcast was amazing. An eye opener. I wish I had gotten to know you earlier. I am 57 and will go by this and fast track my financial independence. It would be great if you could put all this working in an excel sheet and share with us. Grateful to you for your mentorship.

hemendrakillawala
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Hats off to Tanmoy, for his courage to come on this show so vulnerable. People should learn from him, how to ask for help when situation is tough!

coming to Ankur's suggestion, it is not practical, I can say he is in very tight grocery/food expenses, once he get to know that he has some more surplus money, he will spend it for at least needs; although I really think he missed some expenses in the calculation itself, he said in the beginning that what is left- he uses it for food/grocery i.e. 6k. If it is not 6k and 9-10k instead, he would have said that.

Also, I wonder how he manage his marriage? How he will take care of his emergency fund in the next 1 year? What about his child planning? What about his traveling expenses like going home and returning in a year? What about his vacation planning?

Although the main point of this video is to pay your debts first then invest and avoid loans as much as possible. Thank you Ankur for highlight that.

sayanmukherjee
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In new tax regime, tax is exempted till 7 lakhs of income. You should switch to new tax regime and stop 5000rs SIP to ElSS and direct that money to close loan.

This can help you to close loan in a much faster way

ayushgupta
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you should do a new series where you reconnect with these people and show where they are in their journey and what differences they have made in their lives

ishanpaul
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This video is not only for Tanmoy but for all paying high intrest of loans, I can feel him when he say he have to remain same till Oct 2025. Ankur you are awesome!

vishnuteja.v
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Is it just me or you are also seeing Ankur's still image.. in bg his voice is coming rather on a live video call

Highachiever
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Room rent is more....12k...
First you have to shift your room ..
For 1rk ...
That will be 4k to 5k rent....

You have saved 7k pm

And your salary also increment 10%

PraveenTambe.indian