BQPortfolio: To Buy His Dream Home, Deep Mukherjee Must Get Rid Of His Credit Card Debt
Buying a home often requires a good deal of financial jugglery. But don’t lose sight of your short-term goals.
BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.
Buying a house is undoubtedly one of the biggest financial decisions for most Indians. It requires a significant amount of money, most of which is invariably borrowed.
Not surprising then that many start saving years in advance to reduce the home loan burden. Deep Mukherjee, a 31-year-old Pune resident, is one such aspiring homebuyer. But he also has a credit card debt worth Rs 50,000, on which there’s a 36-42 percent interest.
On this episode of BQPortfolio, Kiran Telang, certified financial planner and SEBI registered investment adviser, tells Mukherjee that he shouldn’t lose sight of shorter-term goals while saving to buy his dream home, and should get rid off his credit card debt first.
Watch the full episode here:
