r/financeonloans

not a flex post, more of a "here's what actually worked because i spent a lot of time reading posts like this before i started"

background: took out two personal loans in 2023, one for a car repair situation that spiraled, one i honestly shouldn't have taken. combined balance was $23,400 at an average APR of 21.4%. minimum payments were eating $480 a month and i was barely touching the principal

what i did:

first thing was refinancing. spent two weeks shopping rates and got approved through a credit union at 11.2% APR. that one move saved me roughly $3,800 in interest over the life of the loan. if you haven't compared rates recently and your credit has improved at all, do this before anything else

avalanche method for payoff order. threw everything extra at the higher rate loan first, minimums on the other. boring math but it works

found $640/month in actual cuts. not aspirational cuts, real ones. dropped two streaming services, paused a gym membership i wasn't using, stopped buying lunch three days a week, refinanced my car insurance. none of it was dramatic individually but together it was the difference

any unexpected money went straight to principal. tax refund, a small bonus, birthday money from my parents. didn't touch it

took 18 months. last payment was april 2026

what i wish someone had told me: the refinancing step is the highest leverage thing you can do first. i waited four months before doing it and that was a mistake. also the avalanche vs snowball debate is real — avalanche saves more money but snowball might keep you more motivated. know which type of person you are before you pick

happy to answer questions about any of it

Ever wondered how these financial instruments differ from one another? Let’s break down the key features of each so you can understand what sets them apart!

Here's a quick overview of my situation: I own a house in Bhopal that I plan to sell for around ₹80 lakhs. My goal is to buy a new apartment in Pune, which costs about ₹1.45 crore, with possession expected in 2029.

The Pune builder offers flexible payment options, including a 25-25-25-25 plan spread over four years or a construction-linked payment plan. I'm looking for advice on how to manage and invest the ₹80 lakhs from the Bhopal sale. Specifically, I need guidance on:

1. The best way to invest this amount until I need it for the Pune property payments.
2. How much home loan I should consider taking, given the builder’s payment options.
3. Strategies to minimize interest costs and keep enough liquidity for upcoming payments.

Could you please provide detailed suggestions on the most cost-effective and secure way to handle this plan? I want to make smart financial decisions that keep my investments safe and my costs low.

on 4/29/26 I tried to do an instant transfer of $121 never received it. did another instant transfer of $60 and never received it been back and fourth with chime and Payactiv they keep saying it says complete but never was sent keep sending me reference number transaction numbers chime sent me over several bank statements that shows neither one of thos transfer were posted even til now nothing they keep saying the same I just reached out to BBB regarding this matter because my money didn’t disappear in thin air.

Getting into elite firms like Goldman Sachs, J.P. Morgan, or Morgan Stanley is incredibly competitive. Every year, these banks receive a flood of applications for just a handful of analyst positions. It got me wondering: what truly sets the candidates who make it apart from those who don’t? Is it mainly stellar grades, relevant internships, and networking, or do technical skills and case interview performance play a bigger role in the final rounds?

Also, how much of a disadvantage is it for someone coming from a non-target college versus a top-tier university? And with more people becoming aware of finance careers, is the competition even fiercer in 2026? I’d love to hear real experiences and insights from those who’ve been through the process.

So, I’ve been curious about what exactly people in finance actually do day-to-day. My stepdad works in finance, and he spends a lot of his time programming in MySQL and another language I can’t quite recall. Recently, he was helping out another finance guy who codes in a different language.

It got me wondering what are their main tasks? Is programming a big part of working in finance? Would love to understand how much of their job involves coding versus other skills