Surviving on JUST ₹6000 per Month in Mumbai| Fix Your Finance Ep 33
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- čas přidán 12. 09. 2024
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Hello guys, welcome to another episode of Fix your Finance. In today's episode, we meet Vikas who had lost his job in covid and now spends 90% of his income in paying loans and survives with just ₹6000 in Mumbai.
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Disclaimer: Neither the guest nor I am a SEBI registered investment advisor. Information shared is only for educational purposes and not investment advice.
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So good to see these individuals who are voluntarily coming up and telling about their financial mistakes publicly.
And kudos to Anshuman for making such videos.!!!
What mistakes did he make honestly ? What happened with PMC and Covid wasn't his fault.
@@RitzPlayz he took a 45 lac home loan very early in his career, without thinking of future uncertainty.
One cannot have control of the future but can make present decisions wisely.
P.S- I wrote the comment before the video was premiered(when it was scheduled).
@@durgesh2493 Correct
This guy is the real deal. Most people would have crumbled under these kind of circumstances, yet he treads on. Hopefully he gets out of this and is able to realise his potential.
bro he had no option when you have no option you just move with the flow
Thanks Anshuman for bringing such realistic content with harsh trust, optimism and learnings! ❤
kudos to the guys for not cribbing about job loss and looking towards freelance work. All the best buddy for future.
ye banda bohot achha laga mereko. itna struggle mil gaya usko without his mistake fir bhi itna motivated and positive attitude hai. Love to see it and something we can learn from him.
Anshuman, I was always watching your episodes with some amount of jealousy. I am now able to see that i should also be grateful for my current situation.
Thanks vikas for sharing your story, it takes courage, and i also admire the positive outlook for your future.
I would like to see more such episodes. Thanks for this.
Atlast after so many episodes we are seeing real people and real life issues.. and actual folks who have gone through or going through financial troubles. Great learning.
Hoping the best for Vikas..!!
Hey, Viewers of Anshuman , Firstly hatsoff to Anshuman for pulling out this experience of mine from me and presenting it to the world.
Yes , i will be ready to bounce back the situation .
Thank you everyone for listening me and reading your feedback comment has made me more confident to fight over this short term situation.
Rest , i wanted to tell the reality and share my personal thing with you guyz so that my mistakes can be observed and try not to take the steps.
I really dont regret it but yes because of this i have a story to share with you.
Thanks to Anshuman and his Team
Good luck buddy.
You will be back with a bang someday. ❤❤❤
dear vikas,
i saw your story and was really moved by it. i have no doubts that you will bounce back from the financial difficulties of present. the reason i write this comment is to make you aware of the fact that you are at a very high risk of developing diabetes in the next 10 years. i am a doctor and have noticed that you have blackening of skin in the neck region and this is a condition known as ACANTHOSIS NIGRICANS which is a marker for developing insulin resistance due to obesity. in this your body is unable to utilise insulin being produced which leads to diabetes. along with the fact that you consume street food on a regular basis, it is a ticking time bomb. kindly take care of your health by only changing your diet, as diabetes is one disease which will worsen your financial conditions and quality of life.
wishing you the best.
Better to sell the house and book loss, and come out of debt. (It would be a tough decision, but it will be worth)
Best of luck buddy! The experience you gained must be helping you to be more mature and that will definitely payoff
Take care of ur health and avoid street food.
As you have understood the cost of a bad investment of money, you should also understand the bad investment in your health.
If this enterprising Young Man is reading this I want to tell you something -
1. First you are on your time and doing well very considering PMC bank issue and your early house investment (dont sell the house now )
2. You are very positive and see you doinh very very well and very soon. 🎉
3. Lastly and most importantly son, please try to put some 2000 rs in your daily food - do not eat street stuff , u will have to pay it the hard way with your health
❤
3rd point is most important! Else be ready to realize it the hard way.
agree . he should avoid street foods .
The very first thing came to my mind. These street foods are mostly oily and unhygienic. Jab 10 saal me diabetic ,high cholesterol,kidney, liver problems se joojh rahe honge to koi bolne klie nehi hoga
Hey Anshuman! Glad that you are now covering people who are not in the IT sector and also meeting people outside Bangalore. This will help the viewers to connect better and also understand the varied situations.
Also , I would also like to see someone interviewing you like the way you do , so that we get to know you better.
This kind of episodes are very important
Lesson : never ever lock in long tenure loans
That’s saying never buy a house. The correct lesson is buy a house if you can afford it and have a rainy day fund .
@@TheGreatOne428 Or you know, buy house from savings? Earn enough so you don't have to take a loan
@@vaibhavjain2250 lol you mean save 2 crore? Good luck with that. You'll have to rent more than half your life if you decide to do that. I am not a proponent of taking big loans either. But home is a exception. Most people have their net worth in their house. It's a proven way of building long term wealth.
Yes we have also homeloan..after his story i will suggest my to payoff the loan..baki sb priority baad me ...n now we have one daughter..we have to think about her..its too scary for me after his story
@@TheGreatOne428 Yeah, so what is the problem in renting half of your life. At the end of the day, you can sleep in peace without a burden of paying off a loan.
Anything can happen during the duration of the loan, you may lose your job and end up jobless. If you have a backup plan for all contingencies, go ahead and take a loan.
Else, simply buy a house with your savings. Live half your life in a rented home, there is no shame in that. Many Indians live their entire life in rented home
After seeing few episodes I now feel I am so grateful to my parents, they struggled so much to ensure there is lot of agriculture land for the family.
this guy is so honest and calm.. i wish him all the success
This is such a underrated channel, thanks for spreading financial awareness!
Such a great guy!
Wish him luck for life
He'll definitely do good going forward and kudos to Anshuman for covering the interview very nicely.
One advice..home made food is far cheaper and healthier..do try if possible..there r plenty of items that don't need much time or effort..and all the best
Hats off to you Vikas to come out and share with us on what you are going through and how you are grinding hard to overcome it. Best of luck with you journey ahead!
Tremendous resilience. Kudos to this guy
Anshuman is spreading awareness that actually requires in everyone’s life. This is the truly helpful finance content. Thank you!
As much as i sympathise with him, taking a home loan at 25 is absolutely crazy until unless you have enough rainy day funds and have strong credentials(good degree from a tier 1 college). Good on him for surviving this and hope him the best for the future.
I earn 1.4 Lacs monthly but can't imagine a home loan for the next 5 years atleast, I'm 27 and married.
I too faced a same situation...New job..salary badhi..to maine ghar liya..gharwaale bole ke hum sab support karenge... lockdown aa gaya..emi dete waqt bole ke ye teri responsibility hai tu hi manage kar le...i had to sell the house..the whole family is still blaming me for selling it off..madat karte waqt koi nahi aayega
Bro this is so relatable. I've seen couple of such cases in my known so I can understand your situation.
One take away for me from this video is to never take home loan under the influence of society.
50000 salary.
Eating 100 rs per day, and all roadside material..
😢😢😢 50 lack loan, 5 lakh fd fd fd.
😮😮😮bro why are you not investing on yourself. You are getting fat cholestrol, someday you will got heartattack by this body because of high colestrol food.
bhai ye hi hota hai, middle-lower class aise hi struggle krta hai, unke time ki koi kemat nhi hoti, they wait for non-ac bus to come so that fare will be cheaper.
Khene ko log will say 50K bhut hai itna to sarkari job me nhi hai
but bhut struggle hai, or abhi ye to normal jagah hai like pune agar Banglore, Gurgaon, mumbai hote waha to sala 150 ke chole bhature hai bhai😃
He has a stressful life, 90% home loan, value of flat has gone down the drain. Just imagine his stress levels. When you are stressed you automatically gain weight.
Koi aadmi roj bahar ka kaise kha sakta hai, I mean sirf tel wala fast food.
100 rs me koi juice and food plate nahi aati.
Is bande ne kai sal se neutrition na liye. Na fruits. Na juices. Na ghar ka khana.
That's why he is gaining colestrol. One day all will be lost by heartattack. It's comman bro. Colestrol bahut high hai bhai ki body me.
@@PrashantKumar-tc9fs 90% baate jhooth bol raha hai ......kahani banaya hai.... Video hit ho gai esaki
Probably the most informative video I have seen so far in your channel. 50 lakhs videos are fine but these are the ones that educate the most.
This is content that is relatable to 90% of Indians. Vikas is definitely inspiration to many middle class boys/girls who are struggling with societal definitions, loosing jobs, burden of emis and sadly falling into trap of builders. All the best Vikas for your future.
I like his attitude towards his life, most people might have made bigger blunder after such a tragedy but this guy still managed to persevere, hats off.
Wow ! I wish this video get more audience. This story of Vikas will inspire people who are not thankful for things they have. I wish good health and great success for you brother.🔥❤
After seeing this whole video, I feel that this is the story of most of us. But again, I like it when he said, "Connect your dots and see where u made the mistake." Yes, that's so true that we need to focus on our own financial journey instead of others. Thanks again for this video.
That was a great interview. Really appreciated that you did not pitch him to get some credit cards to help with his situation and put a cred ad in it. Keeping it real as always.
He has a fighter spirit 👍 he has a young guy, am sure he will reach his goals due to his spirit.. hope for the very best to him ..
Just want to clear one thing. Thane ek alag beautiful district hain. It is not a part of Mumbai as a city and neither its Extension. So the kind of living standards and cost per capita is completely different from mumbai. For example: My 450 Sqft 1 Bhk flat in borivali costs around 1.3cr currently in 2023, while the same in Thane, even for a posh builder like hiranandani costs around 70lacs+ for probably 600sq ft flat.
Fark Hain!
Hi Vikas! Same age brother, yet immense respect for how you're braving the situation. Good luck, we'll see you make it big soon :)
Great guy, full of optimism and hope
Covid as a exception hit lot of individual's, The key is stick to basics ie., Dont spend more than what you earn and Keep savings in a good bank
I have the same kind of situation,
Am 27 yo
Got a govt job in 2020
Ryt now my salary is 33 k and I have purchased a house for my family for which I pay 19 k as emi , i am totally comfortable with it , because with time , value of the property and salary will increase , but the emi will remain same .
So 1,2 saal problem hoti h , fir sab chill , you need to manage things a bit smartly .
Kuch paa bhi toh rahe hoge 😅
Thanks for sharing your story Vikas! And hang in there.. This is just a rough patch.. You will do better than ever before! Sending abundance wishes your way! ❤
Being a home owner in Mumbai, my honest opinion is Do NOT buy a home here. The home values here are ridiculously inflated. Apart from home loan and maintenance, you need to pay property tax which is unnecessarily bloated given how bad the roads are in the city.
The only real benifit is the tax saving purpose in 80c and home loan interest. While I understand the importance of having an own home, there are better places to buy homes compared to Mumbai. It's not worth the financial pressure just to prove the society that you have your own home.
Kudos to this guy!! God bless him
Flat point is very right , please buy your flat if you are buying then in Metro city because if don't buy in metro city then it's value will decrease and you will suffer losss .
45 laks flat in 2018 came down to 30 laks in 2023!! How?? And how can any person survive in 100/- (food) per day!! He has his own house, still he is struggling, what about those people who are in rent or those 1 cr slum dwellers in Mumbai?? How are these people surviving??? 🤔🤔🤔🤔
It is possible! I am also in same profile! 100 is enough to get you 2 meals easy
Street vendors food basically!
He must have missed fruits and milk
But sales people usually get chai coffee at customer place
And some customers even offer lunch if you are visiting at right time
Bhai are you new to real estate?
Many properties loose value on time
Based on construction type
Location
New projects
Availability
Also the gentry
And how old is property
Maintenance
@@rohanchauhan7855 not in mumbai they dont lose value
@@stephenwilson4931live in delusion
Mumbai me kuch areas me property ke price are 10-20 percent down pre covid. Search lodha palava
Good lessons from the story. Lekin bro please don’t eat street side food yaar, ek din mein sab nikal jayega paisa jo bachaoge agar health saath nahi rahi to.
Such a real episode. Thank you for this one❤ I lost my high paying job in layoff and working at less than half the salary i was getting then. And thank God I didnt buy a house or car cos i was so close to taking that decision.
software engineer?
@@polyteky no
Great insights, while most of your interviews are based on techies who benefitted a lot after covid, meanwhile other industries like manufacturing which got affected. It's a learning opportunity on importance of savings and how to manage liabilities in tough times.
It was really insightful video...this guy honest and completely aware of his situation...hard working as well....kudos to you vikas
My salary is 25k
Room rent 5k
Finnable PL 15k
Tata Capital PL 10k
Annapurna PL 17k
Total Monthly expenses is 47k and salary is 25k only.....😢 Just imagine how would I manage....
Totally broken financially.... My loan is increasing only.... Struggling from last 12 Years 😢
Itna loan liya hee kyu?
@@oo7posam581 mummy ne liya tha... Jab me chota tha tab.... Aur Mera Job bhi fix nahi tha... Contract pe tha... To kabhi job hota... Kabhi nahi.....
Isliye intrest aur EMI bharte bharte loan bahut badh gaya
Such a humble guy...👍🏻
Very Optimistic Person❤ , Nice , Super.
Good episode. Best part was to see a fitter Anshuman. From first episode to this one Anshuman has lost a lot of weight. Good going.
"Punjab" is cursed word for bank name
bhai meri aankhen khul gyi h. thanks bhai
Salute to this guy for optimism 🫡
but flat ko rent pe kyun nahi diya ?
Thanks for bringing up this episode Ayushman.
And kudos to the guy to open up publically.
This kind of realistic stories are much needed for youngsters to open their eyes and make decisions carefully.
Yes. Never ever get carried away in good times and get into peer pressure to make a big purchase. Make it only when you can buy it upfront or have the capability to forclose the loan whenever you want. PATIENCE is the name of the game.
Stop looking at real estate as a way to become rich. Buy a home only for occupancy. This guy should now stick to the property he has bought. Should concentrate on health. Money will follow.
Kudos brother! Keep the hard work going! You’ll achieve heights!
Really loved this video. This is real life and not something shared by wariko and other influencers.
One of my friend’s father brought 2 houses, one for 5 lakhs, sold both for 1.2cr and did fd. Then lost everything.
How did he lose the fd?? Did the bank shut down?
Yes. Bank shut down like every other bank in recent past. He got 5 lakhs but it was too late. For that also he has to struggle a lot.
@@CaptainU764 LOL which bank was that as all nationalized bank govt pays to its people if anything happens must be coperative socirty with more %ROI and risk
I would humbly suggest Vikas to put his health first and find options for the street food he consumes regularly. It's easier said than done I know! Maybe some dry fruits, fruits, home made sandwich while on the field until you can find time for a proper meal. Investing in health can definitely bring some wonderful results!
You're a real fighter buddy 💪 good luck for future 👍
Vikas is a solid guy. I feel for him man. Good luck !
Just advice for vikas.
On field job try to prepare your meals rather than eating something unhealthy.
You don't want to spend large amount of money on your health for any circumstances.
Get healthy then you will get wealthy.
Very positive guy with lot of wisdom. Very informative interview with someone like us and not someone who grew from rags to riches and they are all fake stories.
I visit everyone's house bro just to ensure that every story is authentic. In fact, we have not published a few videos where the profile had red flags. We do our due diligence before sharing the videos :)
Never take more than 25% of in hand as emi. For home loan. For car 10 % of in hand
I always had the pressure of taking a home loan but after Watching this video I made my mind not to take a home loan until & unless I save 50% of the loan amount.
@@APEXGAMING99 fir loan leke kya karoge
@@APEXGAMING99 aap abhi age se chote lag rahe ho Sir
Please try to cover in english, as most audience could understand it. Or atleast add subtitles please.
This is very inspiring video, kuddos to him and to you too Anshuman Bhaiya for bringing such inspiring ppl and videos to us. I wish him all the luck for his future and for Anshuman bhaiya to keep giving us such valuable content. Absolutely loved this video 💕🙌🙌
This was a very inspiring story. Thanks for sharing your journey Vikash..
Poor guy, he was forced to buy a house to get married and then later got trapped in fate and nothing worked out.
99% women i talked with for marriage purpose also asked me the same thing, i need to have my own house and i told them clearly i am not interested in buying one, if they want they can I will not be stopping them, obviously they said no.
Wo equality ka dhong hota hai bhai at the end mard pe hi sb kuch ata hai.
I liked the last pointers.. Most importantly... Everyones financial journey and life journey is different
This is the great learning video from this episodes series. It teaches lot than all the episodes together
The guy still has lot of positive outlook and that is his strength. Trying to get married at 25 and making that as an artificial pressure to buy a house is something that made me bit concerned. I am 41 now and I purchased house at 40. I had also got married at 29. I feel for a man 25 is too early to get in to any kind of serious financial and personal commitments. You are just starting your life at 25. These things can restrict your decision making ability at that early stage in life.
You may end up getting fired if someone at your company watches this, please don't rant about your pay publicly
The day you take loan is so proud and great ..Later since 2019 many situations have changed.... Many similar story... Me too.
Vikas you are an inspiration but please for your grandparents sake take your health seriously ❤ bro good luck for future 😊
Very true comment in the end - when you have a good salary even reputed CAs will ask you to invest in real estate. They are not willing to tell you how to do systematic investments. I don't know what is the solution to this. Can you make a video on a case study of someone who already has a house etc. and wants better investment advice.
I have been trying to learn how to manage personal finance from so many influencers for the past 2 years, but just watched 2 videos of yours nd now i feel all that i learnt from those influencers was just one side of the story.
The 5 Pillars of Resilience are:
Energy.
Future Focus.
Inner Drive.
Flexible Thinking.
Strong Relationships.
These takes balls to come in front of the camera and share such things, love this channel. keep up the good work and if any corporate is watching this video kindly hire this guy. he will be a genuine person for sure.
Most Indians in the previous generation struggled hard. For a good chunk of their lives, they got barely enough to make ends meet.
The situation isn't better nowadays, but worse. Most earn just enough from their jobs to get by, but for that you have to spend a lot (on coachings, masters, etc).
Meanwhile, inflation increased. Real estate became hugely inflated in pricing.
Keep that in mind before you spend your next dime. Make sure that your kids don't have to face the same troubles finding a good paying job that you yourself had to.
And the answer to that isn't to push a lot of costly education down their throats. The answer to that is to start a small business today and run it frugally for the next 20-30 years. By the time your kids grow up, they won't have a compulsion to get a salary (instead, they can get a dividend from your company). Build generational wealth- that's the only way to true freedom.
The sad thing is, most of the readers of this comment will never amount to doing what I said- Indian culture hain, utna hi karo, jisse bare minimum covered ho jaye. Phir apne us baniye friend ko gaali do, jisne tumhare saath padhai ki, but instead of doing a job, joined his/her family business and now has fully paid up home & cars, while you are rubbing your ar*e on hot asphalt, to make enough so that you could truly own your home (that you pay emi for) by the time you hit 60.
Brave boy. You are a winner
In our country, the gap between rich, middle class and poor is increasing day by day. But, unfortunately no one wants/ believes in talking on this topic.
Video ko shuruvat me hi subscribe kar diya❤ true stories always gives learnings
I hope he pays off all his loans soon. I would suggest he should upgrade himself skill wise. So that the income would increase.
nice one Anshuman and thanks vikas for coming forward and sharing your story...
It was eye opener
Sir 1.25cr ka flat lena better h ya phir 30k rent dena better h?
Depends on your salary and savings as well
The biggest regret for me is taking loans on depreciated assets coz of my high paing job and now i lost my job and has impacted me mentally never ever take loan never build dreams in the low paing jobs n settle in them you will regret it😊
Vikas bhai I really admire you. Keep going, Thanks for the pointers :)
For this kind of content I pay internet charges!!❤
Thank you Vikas for sharing this!
Wish this guy lot of success.
Would suggest to let go off that home ...45L loan is huge with the current situation. Focus on using that money for investments. Owning a house is not a must for marriage in 21st century
Sir I following you for a long time and saw many episodes but this is the best one, as most of the middle class individual like me has a lot to learn from you and the guest like Vikas
Why do banks give loan of 40 lakh to a person earning 8-9lakh..home loan emi shud not be more than 40% of our salary
Just when I was thinking of buying a house this popped in. Although I have enough savings to purchase house without loan now I feel I should not hurry and wait more. You never know what surprises life has for you, its always better to account for uncertainties and the worst case scenarios that one may come across and take step accordingly. Great learnings. Thank you both for sharing this real yet powerful story that will help many to make their financial decisions more thoughtfully.
Go for it!!! Look for the place where you are buying. You can buy and put it on rent. This is just my opinion... Call is all yours : )
Every person who has purchased in Lodha Palava 2 is experience the same problem. The sales team pitch property to sell it at higher price and if you try to sell it , the resale price is very less almost 30% depreciation.
45 lakh house value 30 lakhs that's 1/3 Rd depreciation, bhai kya ye sahi hai😮
NEVER make financial decisions based on what people may think or not think of you. If not having a house makes ones prospective spouse question the alliance, walk away. A marriage is supposed to be a union of two people who will work together to achieve things, including big ticket purchases. Never take loans immediately after getting a job. Especially in the private sector.
Wonderful video . All the best to Vikas . May he have a better life soon
Thanks anshuman for bringing such realistic person
We need more genuine people like him, not 19 yr old baccha saying he has 20 streams of income earning in crores and traveling the world.
Kudos for speaking up openly