Financial Planning help requested

POSTED BY Anirban Roy Chowdhury ON August 11, 2012 11:55 pm COMMENTS (4)


I am 30 yr old male earning around Rs 60k/month. 

Liabilities per month :

EMI HL : Rs 23138 (flat purchased is in another city; I am staying in a different city currently coz of professional reasons); principal amount left to be paid to bank : Rs 19,50,000

EMI CL : Rs 5311 [principal amount left to be paid to bank : Rs 200000]

Rent : Rs 8500

Other expenses : Rs 10000 including bills, daily expenses etc

Recently I got posession of my flat (not in my current city) for which I had to make a substantially big amount final payment which almost drained all my savings till date. I sold off all MFs, shares, ULIP, NSC etc.

I plan to get married in next 6 months although the expense will be covered by my parents 🙂

I would request you to give me a bit of guidance regarding financial planning and smartest moves to maximise savings in this scenario (what exactly is possible at my end; way forward basically). What do you think of my current financial position?

Please note –

1.both HL & CL EMIs are paid on the 15th of every month via ecs

2.I have an emergency fund of a Rs 1 lac FD (1 yr FD) [just in case]

3.I am working for the last 7 years and invested 70k in PPF every yr and I havnt touched that fund.

4.Will putting the flat on rent a viable idea? I am not much emotionally inclined to put my brand new flat on rent 🙂 The appreciation in that property is good. Rates are almost double now w.r.t when i booked. I dnt have plans to live in it in the nxt couple of years.

5. Incase you suggest any invesment plan – kindly mention the same in a bit detail.

6. i donot have a mediclaim and a life insurance currently.

My apologies for the looonnggg post but I thought detail will help you in understanding my scenario and accordingly help me out.

Thanks and Kind Regards..

4 replies on this article “Financial Planning help requested”

  1. Sachin says:

    How does it matter?

  2. Dear Anirban, please answer a blunt question – are you interested in free lunches or paid ones?

    Please mark your reply for sure.



    1. Anirban Roy Chowdhury says:

      Dear Ashal,

      There’s no such thing as a free lunch 🙂 [if thats the answer you would like to hear from me]

      I know I may not be doing few things right or planning it in the correct manner. And thats the reason I am in this forum asking for some help from you learned financial gurus.

      Would appreciate if you may please provide some real guidance on the same.


      1. Dear Anirban, Please do not misunderstood me. What I want to share is – you ‘ll get a lot of info from this forum or many other. Action part on the suggested things ‘ll be in your control & it’s very normal that after few months down the line, you start suspecting your own actions & then search again for better options. Now the new options may not be in continuity with your prev. actions. So it’s advisable to have a trusted person at your side who can guide you for such situations.

        Coming back to your own query – Instead of thinking so many things right now, just concentrate on 2 things only.

        Purchase an online Term cover of 15 times of your yly income+loan liabilities.

        Start investing 10-15K Rs. mly to create an emergency fund for yourself. No other saving investment is on offer from my side at this point as you are zero on emergency funds & no risk cover is there.



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