‘American Dream’ NRI couple drowned in debt of Rs 8.4 crore due to marriage, now tell their story
Debt Story Financial Planning: The story of an NRI couple living in America has become a topic of discussion on social media. The couple has revealed that several simple decisions taken in their pursuit of a better life and financial success landed them under a debt burden of around Rs 8.4 crore.
His post, shared on Instagram page @moneyharmony123, has caught the attention of thousands of people, as this is not only his story but also that of many people who ignore the slowly increasing debt in the pursuit of a better lifestyle.
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NRI couple drowned in debt of Rs 8.4 crore
The couple told that they came to America at the age of 22 and their dream was to get a good job, their own house, a better car, a luxurious kitchen, vacations and buying property for investment. According to him, none of the decisions taken at that time seemed wrong or wasteful. Every step felt like he was moving towards success.
But with time, with every new facility comes a new EMI, loan or financial responsibility. When one day he sat down and assessed his entire financial situation, he realized that the total debt had exceeded Rs 8.4 crore. This included a home loan of about Rs 4 crore, an investment property loan of Rs 2.7 crore, a kitchen renovation loan of Rs 1.5 crore and a credit card loan of about Rs 30 lakh.
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Both are working on a new plan to become debt free
The couple says that the most surprising thing was that they had never decided to take such a big loan together. This gradually accumulated while improving lifestyle and increasing facilities. However now he has decided to get out of this situation. The couple has set a goal of becoming completely debt-free within the next 1,200 days.
For this they are adopting the strategy of budgeting, cutting expenses, regular payments and financial discipline. They are also sharing their experiences and plans to get out of debt on social media, so that others can learn from their story and make better financial decisions.
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