Proper Planning is the Only Way to Welcome Changes in Life
With proper planning, my life is not governed by bad loans. ArthaYantra’s advice helped me take right decisions at right time. I now have a command on my EMIs and they don’t dictate my life.”
The 32-year old married, Praveen wanted to take a break from his current job to attain Masters in Business Administration from International School of Business, Hyderabad. But his college fee was way beyond his savings. Moreover, his Wife had stopped working as she was expecting a baby. Not knowing what to do, Praveen approached ArthaYantra for advice.
Given the circumstances, Praveen’s decision to halt work and pursue further education was not advisable. A thorough analysis of his current income and expected rise in the upcoming expenses, enabled ArthaYantra to suggest him to postpone his dream for a year and start investing in systematic investment plans, immediately. Following the advice, Praveen opted to wait for a year before enrolling for post-graduation. But he was skeptical about investments and so started with a low monthly amount for SIPs.
Meanwhile, Praveen was blessed with a baby and a few months later, his wife started working. Now that the family had a second income, he was in a better position to invest. He confidently followed ArthaYantra’s advice and observed his investments performing well. It was then he got enrolled for post-graduation. Steady income flow helped him meet the monthly expenses during his post-graduation.
His life was very much in control as he took right financial decision at the right time. He understood all financial decisions, be it minor or major, are interconnected and influence each other. With his investments growing year after year he came back to ArthaYantra with a new goal of buying a house.
According to ArthaYantra’s advice Praveen should focus on repaying the education loan before going for any further loan to buy home. In just two years, he accumulated enough amount needed as down payment towards buying a house, after getting rid of his education loan burden. This way he reduced his loan burden. Praveen experienced how the right decision at the right time helps avoiding governance of life by the burdened EMIs and loans.
The real life names and identity of the characters have been morphed for the benefit of protecting the client’s information.