How to Finish Your Loan in Half the Time | Money Matters 128
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Dr Saurabh Mishra is 39 and earns ₹35,000 a month. Around ₹24,000 goes towards his loan EMI. After business setbacks, how can he repay expensive debt and rebuild his finances?
We discuss why reducing the EMI can extend the loan, using his wife’s monthly surplus to repay faster, and protecting her ₹5 lakh savings as an emergency fund. We then look at planning for a home, their child’s education and retirement. Repayment timelines and investment returns discussed are illustrations, not guarantees.
00:00 Meet Dr Saurabh Mishra
02:11 Salary, expenses and family support
04:04 The loan and ₹24,000 EMI
05:30 Should he borrow against his land?
06:50 Protect the emergency fund
07:49 A plan to repay the loan faster
10:50 Repaying the next loan together
11:38 Home, education and retirement goals
14:48 The financial plan in three steps
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