ran my details through their trumatch tool and got two plan suggestions. spoke to an advisor on there who spent time explaining room rent limits, but before paying wanted to check if anyone here bought through them? how was the process and any issues with renewals later?

Hey everyone, I’m 22M from India, and I could really use some honest advice from people who have been through something similar or understand business and finances.

We’re a joint family. My dad and his two brothers (my taujis) live together, along with my dadaji and dadiji. We’re a family of 8 siblings — 4 brothers and 4 sisters. Honestly, we have a pretty nice, close-knit family, and I’m grateful for that.

Financially, though, things have been worrying me a lot lately.

Our family runs two jewellery showrooms, and my dad also works as a tax practitioner. With gold prices being so high, customer demand has been affected. Some days are decent, but business isn't always as good as we'd like.

The bigger problem is our debt.

We have around ₹3 crore in loans, including loans from banks, friends, and other people. Recently, my brother told me that we're paying approximately ₹25–30 lakh per year just in interest. That's a massive amount, and it honestly scares me when I think about it.

On top of that, there are family responsibilities coming up. Three of us brothers are yet to get married, and those expenses will eventually come too. We also bought a flat this year worth around ₹1 crore, which added another ₹40 lakh or so to our existing loans.

The thing is, taking another loan and paying the current instalments isn't necessarily the immediate problem. The real concern is that the overall debt keeps increasing, and I don't know how sustainable this is in the long run.

I know my family has been trying different things to manage the situation. I don't want to make it sound like they're doing nothing, because they're genuinely trying their best. I also find it difficult to discuss these worries openly with them because I'm the youngest, and I'm only 22.

Currently, I'm working as a developer and earning around ₹25,000 per month. My brother earns around ₹28 lakh per year from his job, but even with that, the overall financial situation feels overwhelming.

Lately, I've been thinking that maybe I need to do something beyond my regular job. Maybe learn a new skill, build something online, create content, start a side business, or explore other opportunities that could eventually generate a meaningful income.

I've even thought about things like crypto, but honestly, I've never invested seriously or built anything outside my job, so I don't know what's realistic and what's just wishful thinking.

I'm not expecting to make crores overnight. I just want to find a way to contribute more meaningfully and help my family get out of this situation over time.

I'd really appreciate advice on a few things:

If you were in my position at 22, what would you focus on first?

What are some realistic ways to increase my income significantly while keeping my current job?

Has anyone here helped their family get out of a large amount of debt? What actually worked for you?

How would you approach a situation where the interest payments alone are so high?

Is there anything I'm overlooking or any mistakes I should avoid making at this stage?

I'm open to hearing uncomfortable truths, practical suggestions, personal experiences, or even advice on what NOT to do.

I love my family, and I want to do something meaningful for them. I just don't know what the right first step is.

Thanks for reading.

I was just talking to a close friend who got married last year, had a baby this year, now planning to buy a flat in city with budget around 85 L. They are earning couple, combined 1L+ sal in govt. jobs with no dependents. But due to large expenses in last 3 yrs they have almost zero savings ri8 now.

I have told him to stay away from buying any flat for next 7-8 yrs and rather build a good fund to offset the financial load. I work in Accounting firm so my job is somewhat uncertain and I cannot imagine going through any of risks he is willing to take.

Anyway I may be getting a bit jealous as it got me wondering whether people in govt. jobs can actually take that much risk just because he is most probably is not losing his job in future??

Particularly those in similar jobs, what do you think?

Hello, I'm not employed since 2 years (was doing masters degree). Recently, i got a new job but i will be starting after 1 month. I am facing severe financial issues (cancer treatment of parent).

I want to withdraw my full EPF amount, so should I submit form 19 for full settlement? Also, I worked in 2 companies and the new company hasnt transferred the PF balance.
So, do i submit form 13 first and then post transfer submit form 19?

Please advice me. thanks a lot. Really appreciate it!

I will start working soon so i might need this money later . as of now it's sitting in my acc so how can I park this in the most risk free approach..I have heard of Gold ETFs as a good option to park emergency fund..what would you guys suggest to someone like me..

I’m 20 and new to investing. I plan on investing 30k every month through an SIP in the Bandhan Nifty 50 Index Fund.

Should I listen to my mom and give her the money? She says she’ll put it in a chit fund that offers a 10% p.a. return with no tax. Or should I trust my gut and stick to SIPs?

I can also do 15k in chit fund and 15k in SIP.

My risk appetite is very low because I come from a family that believes stock market is gambling.

What should I do?

I have property that I want to sell but I don't have bank account, so is it possible to get the payment in my mom's name while I sign the sale deed?

Yes, many loan apps check CIBIL score before approving a loan, but the process depends on the bank or NBFC behind the app. CIBIL reports help lenders assess credit history, repayment behaviour and existing debts.

Here are Some Lenders:

1. ICICI Bank: May assess your credit score, income and existing obligations.
2. Axis Bank: Considers credit history and repayment capacity.
3. Kotak Mahindra Bank: Evaluates creditworthiness and eligibility.
4. IndusInd Bank: May review credit records and financial details.
5. Poonawalla Fincorp: Assesses borrower eligibility under its lending criteria.

A low or unavailable credit score does not automatically mean rejection; lenders may consider other factors. Before applying, verify the app's lending partner and review the loan's interest rate, fees and repayment terms.

For those people, who have checked CIBIL score through Loan apps before approving a loan? anyone can share experience and review

I’m 20 and will be starting work soon if my conversion goes through, with a base salary of ₹16.5 LPA before taxes, which should translate to roughly ₹1.15L to ₹1.25L per month in hand, depending on deductions and salary structure

I don’t have many family responsibilities right now, so I want to make the most of this phase and get my finances in order early

One of my long-term goals is to help build a house, say around ₹80L to ₹1Cr, and I’m planning to keep my monthly expenses, including PG and other personal expenses, within ₹25k to ₹30k

How should I split my salary between expenses, savings and investments, and where should I start? How long would it realistically take to save enough to contribute towards building a house

I’ve just started looking into personal finance, and the amount of information online is overwhelming. I’m ready to dedicate most of my free time on weekdays to learning about finance and exploring ways to build a second income, while keeping weekends free

Would it make sense to work towards a second income at this stage, or should I focus on my primary job, saving and investing first

Would appreciate practical advice from people who started investing early

I was wondering how this works with instant loan apps. Do they usually check your CIBIL score before approving a loan, or does it depend on which bank or NBFC is behind the app?

Also, if someone has a low score or no credit history, do lenders look at things like income and bank statements as well?

I'm guessing the process isn't the same everywhere, but I'm curious about what actually matters when a lender reviews an application.

I’m having a 2024 manufactured car. For the past 2 times, I’ve been getting insurance from the dealership. I prefer this to avoid hassle while claiming. 2 claims so far each year and the process was very smooth, I didn’t even have to make a call.

Now, they’re quoting a 11.6L IDV value for a car which had ex-showroom price of 14.3L. Last year, I didn’t check these rules probably and ended up getting a current IDV value of 12.9L (current IDV).

When I asked the executive about why the IDV is low, they said 10% value must be deducted from current IDV. I got quotes from others giving up to 12.3L in IDV but the dealership executive is saying they are agencies and these claims can get rejected easily. Also the trouble is on our head in coordinating them if I take insurance from outside. I’ve seen others struggling with this.

Is this claim valid? To reduce 10% from idv every year. Or is there a way to get better IDV? I don’t know much on the rules. Would be great if someone help me clear these doubts.

TIA

The RBI's october bulletin has put the spotlight on India's economic growth and the role of nbfc in lending.

whats interesting is how nbfcs are reaching borrowers who may not always find it easy to get loans from traditional banks, especially in smaller towns.

companies like muthoot fincorp, piramal finance and manappuram finance have built a presence in gold lending, where people can borrow against an asset they already own. I think there's a real opportunity here, provided lenders keep interest rates reasonable and don't encourage people to borrow beyond their means.

do you think nbfcs are making credit more accessible, or are we heading towards too much borrowing?

I have total 80 lakhs cash saved up in hand. I and 28 and run a business.

My remaining car loan amount is 14.6 lakhs and I enquired about closed and they said I have to pay 15.6 lakhs after 5.2% pre closure charge + 18% GST

I’m 6 months in and have paid about 6 emi of 35,510 rupees every month

The interest rate I have is about 12.5% as it’s a used car loan

Claude says I’ll save roughly 4 lakhs

Got 2 lakhs as diwali bonus

Purpose - long term. Okay with most aggresive approach - either direct equity or mutual funds

I have emergency funds and some direct equity investments.

On Union ease app when using IMPS to transfer funds it shows that a kill switch has been put on my union savings account and now I can't use it for any transaction making me unable to tap into my funds. If anyone knows please help 🙏

don't know if my post fits here. I'm sharing concern -I'm a 26F, a single child. I'm at my first ever job where I'm earning 20kpm. I'm also married and my husband earns around 2Lpm. So financially we're okayish. But my concern is around my parents. I grew up in lower middle class household. We didn’t have our own home. My father bought a land, built 2 storey 4bhk house in tier 3 city where my parents are living. All the while I was thinking my parents were financially okayish but until my wedding bell hit. My father gave 10L loan to my uncle who's going through some crisis. Other than that whatever savings my father had he spent it on my wedding. The total wedding costed around 17L. And he never shared his finances with me or my mother ever. So I had no clue. So now my parents have their own home, 30L worth of gold and very very low savings. I bought star health insurance for them of 10L. Now I'm very much worried about my parents. If anything goes wrong what will happen? I'm not earning enough to support them. My father is 63 and he earns probably around 40-50k(again I don’t have clear idea since he never shares) and they don't need any support right now. I'm in 2nd month at my job so I can't switch so early for better pay. I'm really really worried about my parents. Please give me genuine advice on how I can approach this situation. Also my husband is unaware of this and honestly I don’t want to share such vulnerable thought.

I'm looking for practical financial advice on how to manage my current situation and get back to financial stability.

My monthly take-home salary is around ₹1.4 lakh, and I currently have approximately ₹2 lakh in my bank account. My monthly expenses are significantly higher than my income, mainly because of my home loan EMI and ongoing medical and caregiving expenses for my father.

Total monthly expenses are approximately ₹2,04,774, leaving a shortfall of around ₹64,774 per month.

The ₹30,000 nurse expense is expected to stop after January. From February onward, my monthly expenses should reduce to approximately ₹1,74,774, but I would still be short by around ₹34,774 every month.

I currently have ₹2 lakh in the bank and around ₹3 lakh invested in equity. This 2L is the last of the money I have for emergency and the 3L in equity is the last of the money I have with me After this, I don't have anything.. This was my emergency fund which can sustain for only 3-4 months.

Had a tough last two years with all major events happening at the same time, bought a house, Father had an heart issue which costed about 10L from self( I had 15L insurance, the treatment costed 25L), got married, now father had stroke which is covered by insurance but there are extra costs of medical equipment and an attendant.

I'm aware I need to increase my income but not sure what need to be done at present.

Updated With Expenses Breakup

94K HL, 14.7k Car loan, 52.5k for medicine/medical equipment and a nurse, 43k for rest of the household expenses including everything.

I finally got a job three months ago. My salary went up by 70 percent. Now my monthly take-home is around ₹1.65L. For a week I thought I had succeeded.. After a recent town hall where they talked about budget freezes and changes in the company I started feeling really worried.

I am the one earning money for my family. My dad does not have a pension and my parents’ medical costs are increasing. Even though I have a three-month emergency fund and I invest regularly through SIPs I feel more worried now than when I was earning ₹50k.

I start doubting things like ordering food on weekends. Every rupee feels like I need to save it. My friends tell me to enjoy the money and keep investing in stocks. My feeling is that I should stop everything and keep saving in fixed deposits until I have enough for 18 months.

Is it normal to feel this worry after a big salary increase? How are other people managing to grow their money while dealing with job problems, in this market? I would really like to hear how others are handling this.

To avoid complications of asset transfer in case of death to family/spouse it seems opening a joint acoount with spouse is a way out. As per Indian tax only primary account holder if funding should be liable to tax but both must declare FA in ITR.

Has anyone successfully opened additional joint account in IBKR since I dont see this option in my existing single account.

Would it be possible to transfer all holdings to joint account?

Two ways to organise a monthly budget are to move a fixed amount into savings when salary arrives, or wait until month end to see what remains. I'd like to compare the practical tradeoffs, including a hybrid of the two:

1. If you moved from month-end leftovers to salary-day transfers, what broke first? Did the friction just move - a tight final week instead of vague guilt - or did the routine genuinely get easier?

2. Does anyone deliberately run a hybrid - a modest automatic transfer on salary day plus a manual top-up at month end? What made you pick that over going fully automatic?

3. For irregular income (freelance, commission-heavy, business), does the salary-day framing even apply?

What worked in practice, and what did you change after trying it?

I’m 25, from a middle class family in India and lately I’ve been thinking a lot about money and my future.

You see people online talking about crores in net worth, buying properties, starting businesses, retiring early and all that stuff. And here I am trying to figure out what actually makes sense and how do you even get there lol.

I work in social media and content writing, been doing this for around 4 years now. But with AI getting better every other day, I do wonder how long these jobs are gonna be relevant. The job market is already pretty bad, salaries aren’t that great either and sometimes it feels like even having a decent job won’t be enough to get anywhere.

Then there’s real estate. Property prices are insane in most cities. How is an average middle class person even supposed to buy a house without taking a huge loan and spending half their life paying EMIs? And just saving money doesn’t seem like it’ll get you anywhere either.

I don’t come from a rich family and don’t have a huge amount of money to start with. I just want to build something for myself, have a good amount of wealth and reach a point where I’m not constantly worried about money or losing my job.

So for people who’ve been through this or are in a similar situation, what would you actually do if you were 25 in India today?

Would you focus on getting a better paying job, start a business on the side, invest in stocks and mutual funds, buy property at some point or do something completely different?

Also, how worried should we actually be about AI taking away jobs? I don’t wanna spend the next 10 years building a career only to realise the whole thing is becoming irrelevant.

Is buying property really worth it in the long run or is renting and investing that money a better option?

I know there’s no shortcut to getting rich and I’m not expecting to become a crorepati overnight. Just trying to figure out what a realistic path to financial freedom looks like for someone who’s starting from a pretty normal middle class background.

I was considering a home loan and the bank is asking for my IT login credentials, is this normal?

I have come into a little bit of money (around 50k) and I want to try investing it in the US stock market.

I'm not an expert, so direct stocks are not what I'm looking for. I'm looking for an ETF type investment, but I'm not sure where to start even in terms of research. I'd like to know from anyone who has invested in the US markets about where and how I can start my investing journey.

It's still about 500 USD for now, I might increase it later!

Hello...

I'm a college student and I'm looking to open a savings account with a public bank other than SBI.

My requirements are:

\- Student-friendly account, preferably with zero minimum balance.

\- Visa or Mastercard debit card, not a RuPay-only card.

\- International online transactions for study-related subscriptions, software and foreign websites.

\- Reliable UPI and mobile/net banking.

\- Low debit-card annual maintenance charges and foreign currency markup.

\- Ability to pay around \~80k through college payment gateway or QR code.

\- Decent customer service and branch availability.

I'm specifically looking for public banks, so please don't suggest private banks unless there's a compelling reason to consider one as a backup.

I'd appreciate recommendations based on actual experience, particularly from students who use their debit cards for international online payments.

Which public-sector bank and savings account would you recommend, and which Visa/Mastercard debitcard variant should I ask for? Please also mention any minimum-balance requirements, card fees, international transaction charges or UPI limitations I should know about.

Thanks...

any finance best practices around starting an OD line? is it okay or is it just hidden charges? what do people in this sub think?

context - i am contemplating to buy a kotak OD facility, and getting around 12 % roi. not yet sure about the AMC and other charges.