ilmscore | 3 Loans + 2 Credit Cards = TRAPPED! | Money Matters Ep. 91 | Ankur Warikoo Hindi

3 Loans + 2 Credit Cards = TRAPPED! | Money Matters Ep. 91 | Ankur Warikoo Hindi

Published: 2025-12-10
Status: Available | Analyzed

Predictions from this Video

Total: 7
Correct: 4
Incorrect: 0
Pending: 3
Unrated: 0
Prediction
Topic
Status
Recommendation to convert a ₹40,584 credit card debt into a two-year EMI with a 30% interest rate to manage cash flow and preserve emergency funds.
"So you will now speak to the first credit card company with 40,584. And you will tell them I can not pay this in lumps. Please convert this into an EMI. You will have to return this money but you will give yourself time to pay this so that you can manage it in the money that you have left remaining in the bank. Because my biggest worry for you is you don't have any emergency fund."
Personal Finance Management
Correct
After the first personal loan is cleared in 10 months, the freed-up ₹6,000 monthly payment should be used to double credit card payments, with the remaining ₹3,000 directed towards rebuilding the emergency fund.
"After 10 months your first personal loan will get cleared. And suddenly you will get access to ₹6000 every month. Which is a lot of money. Yes. What you will do with that is, whatever credit card you are making monthly payments of ₹850, you will start doubling that. So instead of paying around ₹3000 you will pay them ₹6000, even then you will have ₹3000 left but you will keep that ₹3000 with you to build the emergency fund again."
Personal Finance Management
Correct
After the second personal loan is cleared (2 months after the first), triple the monthly payment on the first credit card to ₹9,000 to accelerate its payoff.
"Then after 2 months your second personal loan will also be cleared. So now suddenly you have not just ₹3000 but ₹1400 what will you do then you will after 2 months the EMI of the first credit card, we will triple it now. So instead of paying ₹3000 a month we are now paying ₹9000 a month. Why because it is a very expensive loan. So we want to clear it very fast and not pay for the entire two years."
Personal Finance Management
Correct
Invest the remaining ₹7,000 monthly income by allocating ₹4,000 to an Nifty 50 mutual fund, ₹2,000 to a flexi-cap mutual fund, and ₹1,000 to a small-cap mutual fund to mitigate risk for a beginner investor.
"So invest the remaining 7K. You will play it very safely early on. Because you have just started investing. So you want to ensure that you do not take too much risk and do not go through a negative cycle again. So we will put 4000 into a mutual fund of NFT 50, 2000 into a flexi cap mutual fund 1000 in a small cap mutual fund."
Investment Strategy
Pending
Allocate the remaining ₹3,000 from the emergency fund savings into a liquid fund and a gold ETF, while keeping a portion in a bank account for immediate access.
"And the ₹3000 that you are still saving towards emergency fund , we will shift that a little bit too. Of that you will keep in the bank of the forest. So that you always have money there. One is you will put it into what's called a liquid fund and one is you will do a gold ETF."
Personal Finance Management
Pending
In two years, after the final personal loan is cleared, the individual will have greater financial freedom to decide whether to invest the freed-up ₹3,772 or use it for personal expenses, assuming income and savings have also increased.
"And then after one more year you will have the last personal loan also cleared and you will have ₹ 3772 also free. By this time your income would have increased. By this time your savings would have increased further. So at that stage you can decide how best to use this money. You can invest it. You can probably use it for your personal use."
Personal Finance Management
Pending
Loan settlement is advised against due to its negative impact on financial discipline and long-term credit history, which would prevent future loans for housing, vehicles, or credit cards.
"So settlement will be something that I would make as the last recommendation. Right now I am not proposing settlement Neha because you have an option to pay these loans off. And I want you to go through that option so that you understand the discipline of money. The settlement will do two things. Number one, you will actually feel that you got away with it. Which I wouldn't want you to feel because I personally think you should take responsibility for your decisions, and go through this one-year grind so that you understand that you don't want to ever be in the situation again. Number two, if you settle your loan, you will forever have a credit history black spot. So, after this you will never get any loan in your life."
Loan Settlement
Correct