Money management tips
Hi all,
I am 9 years of experience in IT and earn 1 lakh per month, but due to family issues, I can't save. I initially earned 30-35k, used it to pay off loans, home expenses, and medical bills. After switching jobs, my salary still now goes toward paying loans I didn't take. I took loan on lower rates so that family emi or tension will be reduced but then My family took more loans, and we're in the same situation, with growing debt.
I have no savings or assets, and it's delaying my wedding. I'm under pressure, not focused at work, and can't switch jobs or share my problems.
What should I do?
I’m no one to ask this, but were those loans really necessary, or were they just for material things? Dude, please talk to your family and sort things out the right way! Otherwise, it could cost you a lot in the future. Trust me, having a salary without any loans is a privilege.
That were not required. Money taken from banks and lost in trading.
- Talk to your family. You can't keep covering for their mistakes everytime.
- To end this loop, cut on your expenses. Start living below your means.
- Find ways to Increase your income. Try freelancing or tutoring if not switching.
I conveyed many times and try to make them understand that it’s not good but I’m the youngest one in family I think that’s why they don’t consider my advice. But to re pay any loan there is no other option other than me. I also got emotional like I don’t want them to be in trouble so I keep paying emis other than emi of my loan taken by me
Same here bro... HCL won't give hike. So I am trying for onsite
