One of our client ( Family ) when visited us was in Debt trap, the problems comes in their life in row and resulted in big financial requirement.
There was no any way and they had opted for all possible loans, result was totally mis-managed finance and lot of stress in life.
He met an accident while driving 2 wheeler with spouse and child, all three were injured badly was hospitalized.
Hospital bills get settled but one partner who was equal earner has to leave the job of some medical problems.
This family was having housing loan and car loan, this incident made them to use maximum limit on credit card which is a worst type of loan in the Market ( The rate is almost 3-3.5% compounded monthly which builds to 40-45% per year.). On top of this there was some medical requirement from parents which make them to take a Personal loan also.
Now they caught in big trouble and visited us with expectation to help them to come out of this problem.
We created a financial plan with debt management plan for them, this plan will help them to come out of all debts with making some good investments in coming 8 years.Financial problems are like asymptomatic disease which attacks once that particular organ gets damaged up to 80%.
Better plan in advance.Now they are having peace of mind and sure that they can build assets to complete financial goals.Financial planning is not only numbers but it is life planning.
About the author :
Ashish Ramesh Bhave is a CERTIFIED FINANCIAL PLANNER, focused and specialized in financial planing for individuals and families.
Can be reached at arbfinancials@gmail.com or Cell : 08793107044
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