Home loans categorisation

Me and my spouse in total are earning 6 Lakh a month pre-tax, but inspite of that there is too much pressure on finances. I am just amazed with the cost of living. Rents, School fees, EMIs, Taxes are just eating away all the income. I am barely left with 1 lakh at end of month. This saving is not enough for any emergency. Recently my family faced with medical emergency and I am still recovering with the debt it created. Company covered health insurance denied the claim on certain grounds and we were f**c***. It looks so pretty from outside, but honestly I am frustrated even with this package in hand. Is anyone else feeling the pressure, or I am just bad at managing finances?

Hey Grapeviners, I need help from all the experienced folks out there. I and my father have 2 loans: 1. Educational Loan EMI - ₹6500/month for 15 years (₹ 7 lakh loan) 2. Home Loan EMI - ₹22500/month for 9 years (₹ 17.5 lakhs loan) I am 22 and started my full-time career this month and wanted to understand how to repay 2 loans along with my father quickly with less financial burden. (I am the only child) My expenses - 1. Paying Home Loan EMI - ₹ 22500/month 2. Investments - ₹ 30000/month 3. Petrol - ₹ 5000/month 4. Miscellaneous - ₹ 5000/month 5. Left with - ₹ 20500/month (lumpsum) Should I create an emergency fund for myself first with the remaining amount or what else should I do, totally blank in this case? My father looks after the household expenses, education loan, and his own investments. Not sure, how much he is left with at the end of the month as I am not aware of his income. (He has a private job) P.S. - 1. I spend consciously and don't have a bad spending habits. I love to drive (bought a car myself in Dec 2022) and climb mountains, so I manage to do treks every 3 months. 2. I am rigid about my investment amount, so may not compromise on that part. Would be forever grateful, if I get some helpful suggestions.

What do you think of this split ? What would you change?

I have recently purchased home for which I have already paid some ammount and rest we will be doing loan now our first draw of from loan ammount is 1600000 rs and total loan passed is 1.25 cr at interest rate of 8.5% for 15 years our emi is 1.23 lakh so I tried to calculate the interest ammount for this 16 lakh so that I can figure out how much ammount out of 1.23 lakh will go towards interest and how much towards principal ( ps we have just passed that ammount for the safer side we won't be taking that much ) also I will be adding another 1 lakh to principal as prepayment each month can anyone help figure this out thanks in advance

I am a salaried and I have a personal loan emi of 23000 and the loan is pending for 2 more years. I have an option to close this by paying the complete amount now which would be around 5.5 lakh. Should I try and close loan first or allow the emi to continue and invest the remaining investable money from the salary ? Or any other suggestions

Why is there such a low penetration of credit cards in India ?? What problems do guys face in relation to credit cards and needs to change ??

Planning to buy a house. I'm confused about what should be the max price range I should be targeting for. I was okay with going till 2 cr since I would be able to do 40% down-payment and take loan for 15 years whose monthly EMI wouldn't be more than 1/3rd of my monthly in hand salary. But after talking to few folks, realized that people are actually okay going for costlier properties. People who bought house in last 3-4 years, what % down-payment did you do and what % of your in hand salary is your EMI?

For folks who recently graduated and have education loan to pay with multiple small loans that family have taken. How do you all invest money and what portion. I earn around 1l per month and 30% of my income goes into loans. It’s already getting better with those small loans already paid over the course of starting few months but the problem is I am left with no sufficient amount of money to invest after deducting the living expenses. Should I wait for the loans to get over first and then start investing or just invest like 10k per month?

Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself. 1. Working in consumer finance. 2. Love personal finance and helping people out with it. 3. Have published 10,000+ pieces of financial content in the mainstream media. 4. Wrote a best-selling book on money management. It was No. 1 on Amazon once upon a time. 5. Lately been appearing on TV regularly for personal finance discussions. 6. Saved like crazy through my 20s and 30s, brought two apartments; have an 8-figure net worth mostly thanks to my mutual fund investments. It's not much but it's hard-earned. 7. My unrealised aspiration is travel and I'm working on it now. No, I'm not selling anything. No commissions, no referral links, no finfluencing. Just want to talk, exchange ideas, and learn from you all. Maybe I'll feature you in my next book. :) Ask me anything.

Hi folks, Which one is better...? Buying home at 25, by home loan and paying EMI rest of life. Savings from FD, MF and stock market and buy home at 50