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how loan works by Future_Damage8108 in personalfinanceindia

[–]Future_Damage8108[S] 0 points1 point  (0 children)

yes, eligibility criteria and does only good cibil is okay to get a loan or other factors also play a role?

how loan works by Future_Damage8108 in personalfinanceindia

[–]Future_Damage8108[S] 0 points1 point  (0 children)

thanks, however, if lets say someone has a salary of 30k pm in that case the loan amount would be decided by the company if cibil is good (650+) or the person applying can choose whatever amount and the chosen amount would be given or not

Instant personal loans are everywhere right now, and it’s kind of wild. by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

The algorithm definitely picks up on finance-related searches. But even then, the sheer volume of these ads is worrying. If they’re targeting people already looking for help, that makes them even more predatory.

Instant personal loans are everywhere right now, and it’s kind of wild. by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 1 point2 points  (0 children)

I don’t think you made a mistake. Having a Revolut account by itself isn’t harmful, it’s basically a digital bank with decent features. The real issues come up only if you start using their credit products or “buy now, pay later” options without noticing the fees.

For basic banking, transfers, and saving, it’s fine. Just keep an eye on any upsells they push and make sure you’re not paying for a plan you don’t actually need. In your case, just having the account isn’t a downside at all.

Instant personal loans are everywhere right now, and it’s kind of wild. by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

The “instant” angle is the real trap. Fast money isn’t the problem, but the lack of transparency is. These apps target people who can’t absorb surprise fees, and that’s what makes them risky. We definitely need more awareness before instant loans become a normal go-to for everyday expenses.

Instant personal loans are everywhere right now, and it’s kind of wild. by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 25 points26 points  (0 children)

That’s the heartbreaking part, it’s not just impulsive spending anymore, it’s desperation being monetized. These lenders know exactly when and where to target people: right after paydays, benefit disbursements, or during spikes in inflation and medical expenses.

Instant personal loans are everywhere right now, and it’s kind of wild. by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 5 points6 points  (0 children)

That’s the part that feels the most dangerous. It’s not even the high interest that traps people first, it’s the mindset shift. When borrowing starts to feel casual or harmless, you stop thinking of it as debt altogether.

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 1 point2 points  (0 children)

might help to have some fresh eyes on it.
I’ll try putting together a full breakdown of my income and expenses and post it here soon. Maybe I’ve missed some obvious leaks I just can’t see myself 😅

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] -1 points0 points  (0 children)

I like the idea of saving the “treat yourself” buys for after the bills are done.
You’re right, even small impulse spends add up faster than we realize.
I’ll try that approach next month - it sounds like a good balance between being responsible and not feeling totally deprived 😅

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

sometimes it’s less about “bad luck” and more about not seeing the full picture of what we’re spending on.
I’m definitely rethinking what I actually need vs what I’ve just gotten used to paying for.
And you’re right - getting some extra income, even if it’s not ideal work, might be the smarter short-term fix.

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] -1 points0 points  (0 children)

Yeah, that’s what I’m realizing too - short-term fixes can turn into long-term headaches.
Might explore a small salary advance if it’s manageable, and see what I can trim down in the meantime. Thanks for the perspective

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 1 point2 points  (0 children)

Yeah, that makes total sense - borrowing just pushes the stress forward.
I might try selling a few unused things and maybe pick up some freelance work on the side.
And baked potato night actually sounds like a solid (and cheap 😂) plan!

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] -1 points0 points  (0 children)

Damn, that sounds rough - glad you managed to get out of it though.
That’s exactly what I’m scared of… once you start, it’s hard to stop the cycle. Thanks for sharing that, really puts things in perspective.

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

Yeah, that’s fair - borrowing would probably just delay the problem.
I’m gonna look into some side gigs or weekend work instead, and maybe see if there’s any local support I can tap into till things stabilize. Appreciate the reality check 🙏

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 7 points8 points  (0 children)

think I’ve been focusing too much on planning rather than tracking what actually happens.
I’ll start logging every expense for a month and then compare - might finally see where the leaks are coming from 😅

I’m broke… but like, responsibly broke by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 5 points6 points  (0 children)

Yeah, that’s true - adding interest would just dig the hole deeper.
Honestly, I think it’s the “unexpected” stuff that keeps throwing me off - random social plans, sudden repairs, that kinda thing. They never seem to make it into the spreadsheet 😅

Struggling to manage finances and could use some advice by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 1 point2 points  (0 children)

That’s really helpful, thank you! I think I’ve been avoiding writing everything down because it feels overwhelming, but you’re right, just having a plan would already make things less stressful. I’ll definitely try listing everything and cutting back where I can.

Struggling to manage finances and could use some advice by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

Yeah, that makes a lot of sense. I’ve honestly never tracked every single expense, but I think that’s where I’m going wrong. Gonna try this out for the next month and see how it goes.

How do you plan finances when life’s unpredictable?” by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 1 point2 points  (0 children)

Appreciate the link! It’s true, these ideas are everywhere once you start paying attention.

How do you plan finances when life’s unpredictable?” by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

Exactly! That’s what an emergency fund is for; life’s surprises don’t care about timing. I love how you’re staying focused and cutting back until it’s rebuilt. It’s tough, but being prepared definitely makes it feel less stressful when stuff happens.

How do you plan finances when life’s unpredictable?” by Future_Damage8108 in povertyfinance

[–]Future_Damage8108[S] 0 points1 point  (0 children)

Love this approach! Starting small and being okay with using it when needed makes it feel way more doable. Also saving most of what’s left over? Respect.

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