Posted by raj on January 13, 2007, 5:13 am
What's adviced?
Should I take a home loan OR should I go on a rent....
I am planning get married and live out on my own.
Can some advice what's best for me from their past experience about
life.
I have following options
1. I would take a room on rent and will collect some funds from my own
salary before I buy my home.
2. But I can also take a short personal loan and then use that to get a
housing loan.
Following are the parameters:-
1. My salary per month is Rs. 36,000 (I would also like to try for a
better opportunity so, my current job can come into trouble)
2. I got a credit card outstanding of Rs. 32,000.
3. I got 2 credit cards and soon planning to take one more to rotate
the outstanding incase i come into trouble.
4. I currently got 0 savings
5. I need to collect a capital of Rs. 60,000 if I have to buy a house
of my own
So what's adviced for me... is taking a home loan adviced.. or living
in a rented room adviced. I want to be at peace no matter what. Well my
brains not working for the while as I am very very unclear about all
these fishy calcualtions...
Pls help me.. Kindly give logical reasons rather giving rational
advices.
Raj
Posted by raj on January 13, 2007, 5:32 am
raj wrote:
Futher updates
What's adviced?
Should I take a home loan OR should I go on a rent....
I am planning get married and live out on my own.
Can some advice what's best for me from their past experience about
life.
I have following options
1. I would take a room on rent and will collect some funds from my own
salary before I buy my home.
2. But I can also take a short personal loan and then use that to get a
housing loan.
Following are the parameters:-
1. My salary per month is Rs. 36,000 (I would also like to try for a
better opportunity so, my current job can come into trouble)
2. I got a credit card outstanding of Rs. 32,000.
3. I got 2 credit cards and soon planning to take one more to rotate
the outstanding incase i come into trouble.
4. I currently got Rs. 32,000 savings that I got from my current salary
5. I need to collect a capital of Rs. 60,000 if I have to buy a house
of my own
6. The marriage hall costed me Rs. 1,700
7. The cost of food for 250 people is Rs. 14,000
8. The cost of engagement ring is Rs. 5000
9. The cost of Sari is Rs. 2000
10. I have asked for a salary advance of Rs. 36,000 again by the 25th.
Which my company owner has agreed to give.
11. House on rent would cost me Rs. 2,500 per month, Deposit would cost
me Rs. 15,000, Borkarge would cost me Rs. 5000 and other expences would
sum up to Rs. 5,000
12. Marriage is on the 4th of FEB
So what's adviced for me... is taking a home loan adviced.. or living
in a rented room adviced. I want to be at peace no matter what. Well my
brains not working for the while as I am very very unclear about all
these fishy calcualtions...
Pls help me.. Kindly give logical reasons rather giving rational
advices.
I need to be very sure if I should take a loan OR take a rented room
for the while.
Raj
Posted by raj on January 13, 2007, 5:33 am
raj wrote:
Futher updates
What's adviced?
Should I take a home loan OR should I go on a rent....
I am planning get married and live out on my own.
Can some advice what's best for me from their past experience about
life.
I have following options
1. I would take a room on rent and will collect some funds from my own
salary before I buy my home.
2. But I can also take a short personal loan and then use that to get a
housing loan.
Following are the parameters:-
1. My salary per month is Rs. 36,000 (I would also like to try for a
better opportunity so, my current job can come into trouble)
2. I got a credit card outstanding of Rs. 32,000.
3. I got 2 credit cards and soon planning to take one more to rotate
the outstanding incase i come into trouble.
4. I currently got Rs. 32,000 savings that I got from my current salary
5. I need to collect a capital of Rs. 60,000 if I have to buy a house
of my own
6. The marriage hall costed me Rs. 1,700
7. The cost of food for 250 people is Rs. 14,000
8. The cost of engagement ring is Rs. 5000
9. The cost of Sari is Rs. 2000
10. I have asked for a salary advance of Rs. 36,000 again by the 25th.
Which my company owner has agreed to give.
11. House on rent would cost me Rs. 2,500 per month, Deposit would cost
me Rs. 15,000, Borkarge would cost me Rs. 5000 and other expences would
sum up to Rs. 5,000
12. Marriage is on the 4th of FEB
So what's adviced for me... is taking a home loan adviced.. or living
in a rented room adviced. I want to be at peace no matter what. Well my
brains not working for the while as I am very very unclear about all
these fishy calcualtions...
Pls help me.. Kindly give logical reasons rather giving rational
advices.
I need to be very sure if I should take a home loan OR take a rented
room for the while.
Raj
Posted by John Wright on January 13, 2007, 6:59 am
> I am planning get married
> 2. But I can also take a short personal loan ...
> 2. I got a credit card outstanding of Rs. 32,000.
> 3. I got 2 credit cards and soon planning to take one more to rotate
> the outstanding incase i come into trouble.
> 9. The cost of Sari is Rs. 2000
> Pls help me.. Kindly give logical reasons rather giving rational
> advices.
Hope your father-in-law doesn't see your post.
You are inviting disaster with plans for 3 credit cards "to rotate" ... when
the cost of a sari is a significant cost to you worth mentioning.
Frankly I don't think you really want a financial adviser. An astrologer is
perhaps more in line with your attitude to saving.
Regards - JW
Posted by Midjis on January 13, 2007, 7:51 am
> Pls help me.. Kindly give logical reasons rather giving rational
> advices.
Sort your finances out before you think of getting married.
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> 2. But I can also take a short personal loan ...
> 2. I got a credit card outstanding of Rs. 32,000.
> 3. I got 2 credit cards and soon planning to take one more to rotate
> the outstanding incase i come into trouble.
> 9. The cost of Sari is Rs. 2000
> Pls help me.. Kindly give logical reasons rather giving rational
> advices.