I have been talking to talking to hundreds and thousands of people and guiding on money aspects for almost 10+ years now

I have seen people with Loans, EMIs, good Bank balances, with multiple real estate properties and so on

But 3 days ago, one girl called me and said I need your help in money management

I said ok please fill this template and schedule a zoom call to discuss

Yesterday 9.30pm the call started and she started crying. I can see water peeping out of her eyes

When I went through the template, she listed 12 loans and EMIs double than her monthly income

and literally zero savings, not even Rs 1000 in her bank account

When asked, how are you paying this much EMI when you dont have income. She said she is unable to pay EMI and to pay one EMI, she is taking another loan and the circle continues

Banks stopped giving her loans, so she took loans from mobile apps and they started harrassing her

She asked me only one thing, sir how to come out of this loan trap. Please help me

I didn’t have any answer, I kept quiet for few mins

I realised that the solution is not in making her come out of loans



The solution lies in identifying the root cause of why she went into such deep trouble of loans

She told, It all started in 2017 year with a small loan of 50k and now having loan outstandings including credit card and mobile app loans of total Rs 26.5 lacs approx

She realized her mistakes now, but because of all this… She is in trauma

She said, she is very stressed and have sleepless nights and anxiety

I had to change my role from being a financial planner to psychologist

I never spoke earlier with anyone like I counselled her yesterday

We spoke for 2.5hours and all the time she is weeping by explaining her life situations which made her to take loans and loans

At the end, I gave her 5 points to work on clearing the loans and created an action plan

But it will be a long journey of atleast 3 yrs for her to be able to clear loans if it works out as planned

I didnot get proper sleep after this 2.5hrs of discussion. Her situation, stress, anxiety, emotions disturbed me a lot

Money can create stress, disturb lives, make people take forced decisions, anxiety, mentally disturbed…. if not managed well

Money can also make lives easier, flexible, happier, stress-free, relaxed

Its all in each individual hands to decide which path one wants to take based on circumstances at a given point in time

Note: This is story is shared by taking prior consent from the girl and the personal details are kept anonymous for security and privacy reasons.