₹12 Lakh Debt from GAMBLING - Can it be SOLVED?! | Money Matters Ep. 61 | Ankur Warikoo Hindi
Published: 2025-05-07
Status:
Available
|
Analyzed
Published: 2025-05-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 3
Prediction
Topic
Status
Investing ₹45,000 monthly with a 10% annual increase could result in ₹1.7 crore in 10 years.
"if you invest ₹45,000 every month, increase it by 10% every year and do this for 10 years, then in just 10 years you would have ₹1 crore 70 lakh."
Pending
Investing ₹45,000 monthly with a 10% annual increase for 10 years could result in ₹1.7 crore.
"And because of this, your life would take such a turn in 5-10 years where you would be at a different level, friend, if you invest ₹45,000 every month, increase it by 10% every year and do this for 10 years, then in just 10 years you would have ₹1 crore 70 lakh."
Pending
All outstanding loans are projected to be repaid within approximately 30-31 months (2.5 years from the current date).
"So, we have reached 27 months. And if you assume that the loan is paid off in 30 or 31 months, that is, after two and a half years from today, your EMI will be zero."
Incorrect
After achieving debt freedom, it is predicted that one can become a millionaire within 10 years.
"And after that you can start your life from a point where you can become a millionaire within 10 years."
Pending
It's projected that all loans can be repaid within 30-31 months (approximately 2.5 years), freeing up ₹48,000 monthly income.
"So, we have reached 27 months. And if you assume that the loan is paid off in 30 or 31 months, that is, after two and a half years from today, your EMI will be zero. You will have Rs 48000 per month sir."
Correct
The remaining four EMIs of ₹17,280 can be paid off within two EMIs, leveraging existing savings.
"So, out of the remaining four EMIs of Rs. 17280, you are already saving around Rs. 15780, so by adding a little here and there, you will be able to settle those four EMIs in just two EMIs."
Correct
A specific loan (principal of ₹38,000) can be fully repaid in one go, resulting in an EMI of ₹104 and monthly savings of ₹38,000.
"So, you can also finish that loan in one go. So then your EMI becomes just ₹100 ₹4 and you now save ₹38,000 per month."
Incorrect
After clearing all debts, it's predicted that one can become a millionaire within 10 years.
"And after that you can start your life from a point where you can become a millionaire within 10 years."
Pending
A particular loan is projected to be repaid within 4-5 months.
"This will also be repaid within four to five months."
Correct
Repaying a loan of ₹1.3 lakh is estimated to take approximately 8-9 months.
"So, it will take you approximately 8 months. Let's assume 9 months."
Pending
Focusing on debt reduction is advised over investing when loan interest rates are high, as it enables greater future investment and earnings.
"So, whatever you are earning, you are paying the same amount in interest. So try to reduce your interest. Try to reduce your debt as this will allow you to invest more and earn more."
Correct
Two loans of ₹50,000 each are expected to be fully repaid within 3 months from a specific point in the repayment plan.
"So, we have reached the 13th month. ... So, after 3 months both your loans of Rs.500 will be closed."
Correct
It is suggested that reducing debt is more beneficial than investing when the interest paid on debt is comparable to investment returns.
"So, whatever you are earning, you are paying the same amount in interest. So try to reduce your interest. Try to reduce your debt as this will allow you to invest more and earn more."
Correct
The next 3-4 years will be dedicated to loan repayment, after which a fresh start from zero will be needed to rebuild one's life.
"The next three-four years of your life will be spent just in repaying this loan and then you will start again and then you will have to start from zero and rebuild your life"
Pending
Monthly expenses are to be strictly managed within ₹3000.
"So, first of all, you do not have to increase this ₹3000. You will have to meet your monthly expenses within this Rs 3000 only."
Incorrect
Focus should be on debt reduction, as interest paid on loans (up to 24%) is comparable to or exceeds potential investment returns (12-13% after tax).
"All your loans are currently at around 12 to 14% interest. There is some 24% pay which you have taken from friends. ... So, whatever you are earning, you are paying the same amount in interest. So try to reduce your interest. Try to reduce your debt as this will allow you to invest more and earn more."
Correct
A ₹45,000 SIP should be liquidated to pay off a ₹50,000 loan.
"So, first of all, if you liquidate ₹45,000 then liquidate SIP and pay off ₹50."
Pending
Within the next 2 months, after a total of 26 months, a specific loan with four remaining EMIs will be fully repaid.
"So, it has been 2 years since today. At this point, only three loans remain. ... So you will finish that loan also in the next 2 months."
Pending
After 24 months, three loans at 24% interest will be repaid. Subsequently, a ₹73,000 interest-free loan will be repaid within approximately 5 months.
"So, your EMI is still the same at ₹32,218 but the loans of your three friends at 24% interest have been repaid. ... At this point you have a loan of Rs 73,000 on which you do not have to pay interest, you will start repaying it. So he will be done in about 5 months."
Correct
A ₹1 lakh loan, currently only paying interest, will be fully repaid within 6 months, bringing the total repayment period to 24 months.
"At this point, you will start repaying the ₹1 lakh loan on which you are paying only interest. It will take you 6 months to repay it and now you are at 24 months."
Correct