Date: 2008-11-27 19:16:40
Name: toby
Message:
City: Kochi
Employement Status: Salaried
Date of Birth: 07-08-1982
Earning Members: 1
Dependants: 2
Net Salary: Rs. 45000
Assets
Property: Rented
Vehicle: Financed
Other Assets: Owned
Loan Details
Loan Type: Twowheeler Car Loan
Loan Amount: Rs. 575000
Tenure: 60
Emi: 12593
ROI:
Emi Paid: 2
Card Details
Payment Due Status: More than M A D
Outstanding on Card: 50000
Query: How should i go forward. My Monthly rent is Rs.11000, car loan emi of 12593.
Date: 2008-11-28 12:55:58
Message:
Dear toby,
Do you have any assets you can leverage / mortgage / liquidate to improve your cash flow situation ?
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi
Date: 2008-11-29 16:15:53
Message:
Hi I am only 26 years old who started his career 2.5 years back. No personal asset to liqudify, How ever i have cash surplus of 2 Lacs in my account. Though i am still moving smoothly as of now, Savings have gone down drastically.
Date: 2008-12-01 11:54:22
Message:
Dear toby,
If you have surplus funds available, its advisable to use it to clear your debts. Its always better to be debt free. Please regulate your expenses and get into a habit of saving a portion of your salary every month. Prudence in expenses is the only trick to stay out of debt traps.
Please revert with any clarifications on the above answer.
Regards,
Amitoj Sethi