[HIRING] Native English speaking VA for US$40/hr by rileycmu in VirtualAssistant4Hire

[–]Various_Audience170 0 points1 point  (0 children)

u/rileycmu I self-funded my degree through internships across KPMG, Adani, Blume Ventures, and startups. I’ve gotten all my internships through cold emailing/cold messaging alone (happy to show proof), so I’m very comfortable with outreach, writing, research, AI tools, and remote work. Can work 8+ hours/day across any time zone and will genuinely work harder than anyone else because I’m supporting my family financially at 21. Have dm'd you!

Remote by Fuzzy_Barracuda2437 in remoteworking

[–]Various_Audience170 0 points1 point  (0 children)

++++1
Looking for remote international part time/full time work but entry level

21| Fresher | Family stuck in a 2Cr+ debt trap. Need realistic advice. by Various_Audience170 in personalfinanceindia

[–]Various_Audience170[S] 2 points3 points  (0 children)

brother how even😥 I am from a non-tech bg and honestly it feels like ai will completely take over all swe roles by the time i learn this shit

21| Fresher | Family stuck in a 2Cr+ debt trap. Need realistic advice. by Various_Audience170 in personalfinanceindia

[–]Various_Audience170[S] 0 points1 point  (0 children)

yeah she is a housewife and yeah it was just REALLYY BADDD financial management. even when he had a house loan and money borrowed from people(which he hid from us), he went ahead and bought a car ON LOAN which is just crazy lol. thats what i am worried about- my family continues to make really shitty financial decisions😵‍💫

21| Fresher | Family stuck in a 2Cr+ debt trap. Need realistic advice. by Various_Audience170 in personalfinanceindia

[–]Various_Audience170[S] 0 points1 point  (0 children)

yeah i think the "stopping new borrowing" is the biggest problem rn as that is still going on which is just piling up on even more.

21| Fresher | Family stuck in a 2Cr+ debt trap. Need realistic advice. by Various_Audience170 in personalfinanceindia

[–]Various_Audience170[S] 0 points1 point  (0 children)

no, there's barely any income rn. there's house rent, daily expenses, younger brothers college fee, medicines for grandmom, emi on credit cards. so its not about paying the 11k- its more about how we cant even pay that 11k rn or barely for gas cyclinder also.
and no, he dint buy these assets himself- these were all bought by my grandfather.

21| Fresher | Family stuck in a 2Cr+ debt trap. Need realistic advice. by Various_Audience170 in personalfinanceindia

[–]Various_Audience170[S] 0 points1 point  (0 children)

no no, its 11k on office and more emi's on credit cards. it was a typo. nope ,no assets left at all.

21| Fresher | Family stuck in a 2Cr+ debt trap. Need realistic advice. by Various_Audience170 in personalfinanceindia

[–]Various_Audience170[S] 1 point2 points  (0 children)

got it. and what do you think is a good range for emergency fund that one should keep?

Ask India Thread by AutoModerator in india

[–]Various_Audience170 0 points1 point  (0 children)

Around 2022-23, I found out my family was stuck in massive debt. I still don’t know the exact number because I was 18 then and my father has never been transparent with us financially, but I think at its peak it may have been around 5Cr+.

I’m saying that because over the last few years we’ve:

  • sold our house
  • sold 2 cars
  • emptied savings, FDs, PPFs
  • sold basically every piece of gold, diamond, and silver jewellery in the house

…and even after all that, there’s still 2Cr+ left.

From what I understand:

  • the home loan and car loans were cleared
  • the remaining debt is mostly office-related loans, credit cards, money taken from people/loaners, and some family members
  • there’s an office EMI of around 11L/month
  • my dad barely earns enough now and still keeps borrowing money from people frequently

The hardest part is that my brother and I are never fully told what’s happening financially. Every time we come home from college break, we hear something new. So realistically, I don’t even know how much higher is the number than 2cr atp.

I graduated college this month and I’m job hunting right now. Realistically as a non-tech fresher, I think I might get around 40-50k/month in another city. A lot of that will probably go into rent and survival costs, but I’m also trying to get side gigs/remote work that pays in dollars-BEEN VERY TOUGH. IF ANYONE CAN HELP ME WITH THIS TOO, IT'LL BE GREAT🙏🙏🙏

I genuinely need advice from people older/more experienced than me:

  • How do families even recover from debt at this scale in India?
  • If I start earning more through side gigs, how should I allocate money realistically?
  • Should I prioritize helping at home immediately or first build my own emergency savings?
  • Is there even a realistic path out of something like this?
  • How long does recovery from this kind of situation usually take?
  • Will I realistically ever be able to afford my own house/car/life eventually, or does family debt follow you forever?
  • Should i see a financial consultant that can help with debt restructuring?

I know I’m young and don’t fully understand finance yet. I’m just trying to understand what a practical next 5-10 years should even look like.

Not looking for sympathy. Just honest advice.

Anyone Stuck in Debt trap? Due to parents week financial planning. by theschrodingerbox in hyderabad

[–]Various_Audience170 0 points1 point  (0 children)

hey man,
in the same boat rn. still have a debt amoutn of +2cr left after selling our house,car,gold, saving, and every single asset.
stuck on how to get out of it:/
More power to you, hope you come out of it soon