BQPortfolio: To Buy His Dream Home, Deep Mukherjee Must Get Rid Of His Credit Card Debt
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: