u/Brilliant_Seaweed_24

This update is for my pervious reddit post -

https://www.reddit.com/r/personalfinanceindia/s/O4M8o8CkHm

So I evaluated everything, debt and savings, this is how it looks right now -

Earnings -
Salary - ₹110000
Personal Loan EMI - ₹37125
Household Expenses- ₹25000 (cannot be reduced)
SIPs and savings - ₹16600
Balance in CC - ₹31000 approx

Debt -
Personal loan - ₹889322 (borrowed 14.5lakhs, 27more months to go)
Credit card total outstanding - ₹393004
Total debt - ₹1282326

Savings -
MF - ₹294661 (currently at 2.29% profit)
Stocks - ₹132184 (currently at 8.177% loss)
Digital gold - ₹18630 (currently at 7.2% profit)

Next steps I am planning -

- Sell all the gold
- Stop SIPs
- Sell MF partially and pay CC
- Take a top loan (i have a pre-approved offer @9.99%)

Please advise.

Personal loan - 14.5 lakhs, ₹37k emi per month
Household expenses ₹25k per month
Credit card bills - ₹45-50k per month paid

Total Credit card outstanding approx 3.5lakhs

Savings approx ₹5lakhs (markets and digital gold)

How do i get out of debt, while making sure that i save every month as I am planning to buy a house in the next 2-3 years.