How to be LOAN FREE fast & forever 2024 onwards? | Debt Trap Free | AssetYogi Show # 3
How to be debt free? Live a loan free life 2024 onwards. We can get freedom from debt trap by managing our loans and debts better.
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We'll explore 4 strategies to help you manage debts efficiently and identify good and bad loans while taking home loans, car loans, credit card loans, personal loans, and top-up loans according to your wants and needs.
We'll also understand how to Avoid High Interest Rates and Late Payment Charges by managing our finances.
00:00- Introduction
00:42- Strategies to manage Loans & Debts
01:10- How to pay debt fast?
03:02- Which Loans to be repaid first?
04:20- Credit Card Repayment Tips
05:29- Good Loan vs Bad Loan
09:45- Get Cheapest Loans Always
09:57- Top-up Loan
11:05- Loan Refinancing
12:03- Increase EMI vs Loan Tenure
12:46- Maintaining good CIBIL Score
13:52- Credit Utilization Ratio
14:18- Save and Buy
14:59- Outro
About the Video
To achieve a debt-free life from 2024 onward, it's essential to navigate our finances prudently and avoid falling into the loans and debt trap. In an era of easy EMIs, purchasing items with deferred payment options can become burdensome without proper financial management. It involves overseeing credit card bills, handling interest rates, avoiding late payment charges, and more. Effectively managing existing loans is a smart step towards concluding them efficiently.
Opting for EMIs has become a convenient choice in today's scenario, covering various loans such as car loans, home loans, education loans, and top-up loans. Distinguishing between good and bad loans is crucial to avoid financial burdens. While taking EMIs might seem convenient, mismanagement can lead to a debt trap. It's vital to discern between good and bad loans and align them with our specific needs and wants. This strategic approach is key to attaining financial freedom.
In this video, we’ll cover the following concepts:
• How to be Loan free?
• How to manage Debt and Loans?
• What is Good Debt and Bad Debt?
• Debt free kaise ho?
• What to do with high-interest loans?
• Which Loan to Pay off first?
• Loan Free life kaise banaye?
• What are the benefits of Loan Refinancing?
• How to manage multiple Loans?
• How to get cheapest Loan?
• How to pay Debt fast?
• How to get freedom from debt trap?
• Should we increase EMI or Loan Tenure?
• How to take Top-up Loan?
• How to maintain Credit Utilization Ratio?
• What are the effects of Prepayment on CIBIL score?
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Connect with Us
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LINKEDIN - / mukulm
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Website
assetyogi.com
#loanfree2024 #goodloanvsbadloan #assetyogishow
Пікірлер: 478
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Sukriya Sirjii... Always explain everything in most simple way..
Thank you Sir. I truly learned something new today.
AY, Finally I got debt free this year. Now 70-80% salary is invested in MF/STOCKS. FINANCIAL INDEPENDENCE journey hence started
@AssetYogi
26 күн бұрын
Congratulations!
👍Great and on the point analysis 👌
Nice information, thank you sir🙏 Happy new year sir!
Feb 2024 mein debt free ho jaunga Bc abhi loan nhi lena at age 26 saari salary loan mein hi chli jaati hai NO EMI ONLY SIP ❤
Sir ji aapne bahut mahatvpurna jankari di Thanks ❤❤❤
Thank you for covering all loan in one video ❤❤❤
Ye Topic bahut jaruri tha .
Asset Yogi se request hain ki aap value investing ke bare mein video banaye for beginners..
Happy New Year Sir🎉🎉🎉. Great video and good strategy information given by you.❤❤❤
Very helpful advices sir. Thank you so much!
Sir Ji.. Wish you very Happy New year .. In. Advance.. May your channel and teachings spread more and more in 2024
Aaj tak koi loan nahi liya par information gather karna always beneficial thanks for the video
Amazing Lessons !!!❤
2:24 which formula is used for home loan?
Thank you sir
I have a question, will taking more no of credit cards, and using very sensible, does it has impact on credit score
Very informative video, thanks.
Super video excellent information sir thank you so much
Sir aap itne ache se har baat clear kar dete Ho ki koi question poochne ki gunjaish hi ni rehti. Thanx a lot sir for ur guidence
@AssetYogi
6 ай бұрын
Thanks a lot
Thank you ji, this video is very informative. Can you make a video about Quantum AI?
Nice information.. Thanks sir
Good Malik sahab
Thankyou sir for such informative video! I just want to add-on one thing that while opting for top-up on home loan, one need to check weighted average rate that they will be paying on total loan.
@Goldenbootster811
3 ай бұрын
Could you please explain a bit please
aap ke samazane ka tarika bahut badiya hai
sir you are great teacher thanks
Can you make videos on equipment leasing and their process and calculations?
Happy new year ❤
Good very useful information thank you sir
Great sir 🙏🙏
Dear sir 🙏. Sir home buying vs renting pe ek video jaroor banayiye
Thank you for advice..
@AssetYogi
7 ай бұрын
Always welcome
How much amount we can pay as principal payment on home loan in a single year ?
sir you make a video on what is trust & what is will
Sir, I have questions. Early payment of Home loans and investment in Mutual funds what should be the ratio for both.
Wish you all happy New year , may god bless you and your family
Very good and True advice... Thank you Mukul ji❤
Hats off ❤
Thank Sir 👏
Is there any app which can suggest how to manage our finance and do financial planning??
Very helpful video sir ji
Very informative vidoe
Mr perfectionist ❤
Also thank you sir 🙏 for written chapters 🙏
Happy new year sir
Hi Sir, Can you share that excel that you were referring in your video.
nice information sir. thanks
Sir, You are really an asset for us.
@AssetYogi
7 ай бұрын
Thanks a lot!
Mutual fund me utna increment nahi milta he.. so wo bad idea he.. it's better to fill that amt in loan account so interest amt ll reduce faster
Ek dum sahi bol rahe hai aap
Happy new year🎉
Hello Sir I like your context every time and use to watch your videos but I have a question If you can please answer that for me. NDTV profit logo in left top corner, Why❓ I think there are many more you want to know why Adani NTDV is flashing on your video.
Sir mera question hai Maximum kitne loans (Good Loans) le skte h jisse Cibil score pr jyda effect na ho kyuki Kahi suna tha Maximum 3 loan hone chahiye
I have taken a loan on credit card and the emi which is mentioned over there bank deduct that amount plus they also deduct tax on it. so what I need to do
Mukul sir i am following you since year 2019 and regularly watching your video, help me out for the debt free easy niw 2024 hope next year i will be dept free.
Sir kya bank limit laga sakta hai home loan repayment pe?
आज तक कभी ट्रेडिंग नहीं कि लेकिन सीखना चाहता था,काफी समय से दुविधा में था लेकिन आपके द्वारा दी गयी जानकारी की वजह से बहुत कुछ सीखने को मिला... Thnkuh so much
@AssetYogi
10 күн бұрын
Thankyou for watching!
Sir ji....pura life kharap hu gaya credit card loan and loan se...ur vedio motivated ... like it
@AssetYogi
7 ай бұрын
Thankyou!
Thank you Sir for guiding us at every moment of financial planning
@AssetYogi
2 ай бұрын
Glad
Superb ✨️
Ekdam sehi
बहुत-बहुत धन्यवाद इस जानकारी के लिए आभार व्यक्त करता हूँ प्रणाम स्वीकार करे ❤❤❤❤
@AssetYogi
7 ай бұрын
🙏
I like ur videos sir
Should I take loan for buying a plot (Land) for long term investment???
Credit card per personal loan mila hai... Per use per igst lag raha hai... Kya karu ??? Principal+(interest+18 igst)=emi
Good sir ji ❤
Good information
Mein loan or credit card me fasa hua hu meri umar mahaj 24 saal hai or mein ise apne level pr apni khud ki stretegy ke sath clear krunga 1. 2 saal ke ander
Dear sir new and old regime ka calculator open nahi ho raha please share again
Sir grt financial advice but what about contract on mortgages by bank , nbfc in process gulps ur assets .
Sir, ham janana chahte hai ki bank ka loan repayment karne pr kya charge lagta hai aur kab lagta hai?
What if personal loan is charging higher interest rate, then what will be the best option to get rid of from it
Your every video informative sir❤
@AssetYogi
7 ай бұрын
Thanks a ton
Bahut achhi jaankari.. I m your very old subscriber.
Wish you and your family members Very happy new year 2024 Mukul Yogi ji🎉🌞💐😊 Business loan par koi tip de skte hai kya please 🙏
Sir what do you mean by if I settle my loan my cibil will be decreased? I mean is it means if anyone pays their debt before time it will put bad impact on their credit score?
Foreclosure of loan will effect on cibil ?
Ek kahawat hai jo hamare badon ne kahi hai " Kam khao gam khao " . Wish everyone happy new year 2024 & kam kriye aur paisa save kriye. ❤
You are the most intelligent & wise finance youtuber in India
Lon bank se lene ya NBFC se lene me kya different hai...
To sum it up 1. Snowballing strategy 2.Reducing bad loan 3. Toppingup low interest loans 4. Save for luxury but forgot one strategy
Sir CIBIL score ke report मे गलत लोन दिखा रहा है, जो असल मे है ही नहीं. उसे कैसे ठीक करे.
Very nicely explain in between good lone and bad loan 😊
Valuable Inputs on Loans - but can you brief us on the subject matter - if we are talking home loans then how to close those at best possible time. Thanks 🙏
@AmitKumar-sx6zf
7 ай бұрын
different ways to deal with this, few from my side: 1. Pay 1 extra EMI in every financial year 2. Purchase Equity of the same bank from which loan is taken on regular intervals in 1 financial cycle. 3. Purchase MF based on some research on regular intervals in 1 financial cycle
@RanjitKumar-lm3op
7 ай бұрын
@@AmitKumar-sx6zf Thank you so much for your valuable suggestions
@rishiktube
6 ай бұрын
@@AmitKumar-sx6zf Equity or MF se loan par to koi farak nahi padega. Jitna extra EMI de denge utna jaldi repayment hoga. Uske baad investment ke options has Equity or MF. Or same bank ke equity se to kuch matlab nahi, jo achcha return de raha hai or safe hai woh le lena.
Maine good loan liya hai business karne k liye aur aage bhi business k liye hi leta rahunga
@assetyogi - if my loan is “X” lakhs and I have “X” amount in my mutual fund then I don’t think it’s a good strategy to close the loan as Mutual funds grow better than loan amount assuming loan interest - 12 % reducing and MF 10 %
Please keep it up with your new videos personal loan are home loans debt traps sir
Emi ko pay karne ki best day kon hota hai in a month.. like first week of month or last week of month?
I have a personal loan with L&T finance. They allow prepayment (minimum 25% of the principle amount) only once in six months along with 16% prepayment charges. L&T finance doesn’t let me give few extra EMIs. The 25 % amount of principal amount is huge. Any ways to get over this ?
Sir lic se maximum loan kis tarah se le sakte hai kam se kam total amount se 85%
Can we pay more amount i.e means more than EMI in case of Home loan HDFC bank ? If Yes ,how to pay online? If there any penalty to pay More than EMI? plz explain
Only genius in KZread,hats off
Sir in big trouble, cibil score down drastically and no. Of loans increasing. Please help
Super.
Sir one question h... kya hm 1 year m 1ya 2 extra emi pay kr sakte h bank ko...jisse ki time tenure km ho Jaye
Nice sir
Sir kya personal loans ko home loans me convert kar sakte hai
Sir, अगर मैने ५ साल के लिये personal लोन लिया है और अगर एक साल के बाद अब repay पूरा कर सकती हू तो क्या repay करना सही होगा? मै ३ साल मे रिटायर्ड हो रही हू. प्लीज़ गाइड