From Naivete to Resilience: A City Boy's Financial Journey

Leaving my close-knit village in North West India for a government job in Bangalore at the young age of 20 was a whirlwind. The bustling city was a stark contrast to my quiet village life. With a starting salary of ₹17,000, I felt like I had struck gold. However, financial literacy was something I hadn't grasped yet. One major misstep was taking a ₹4 lakh personal loan to build a house back home. While the initial intention was sound, I lacked a proper financial plan. Repaying the loan felt manageable at first. But instead of prioritizing it, I was lured into taking another loan, justifying it as living a little. In hindsight, this was a reckless decision with no clear purpose for the money. Fast forward to 2020. Befriending someone involved in stock trading sparked my interest, but it was a decision fueled by influence rather than knowledge. I entered the market with borrowed money, naively believing the early profits would continue. Needless to say, those profits were short-lived, and I found myself drowning in nearly ₹20 lakh of debt. The burden of multiple high-interest loans with EMIs exceeding ₹1 lakh became a suffocating weight. My salary became a mere figure, deposited into the same account where the EMIs were automatically deducted. The harsh reality was that I was barely surviving, even facing periods with nothing to eat. This low point was a wake-up call. The past two years have been a grueling battle. I've had to hustle for any additional income possible, often at the expense of my physical health. Despite the hardships, there's a newfound determination to emerge from this. This experience has been a harsh but necessary teacher. It's instilled in me the importance of financial responsibility and the dangers of impulsive borrowing. I'm actively seeking professional guidance and exploring ways to improve my financial situation. While the road ahead might be long, I'm committed to making smarter financial decisions and building a secure future.