I have this habit of getting into a debt trap quite often. Up until now, I have managed to come out of them but the one that I am currently in, is making me anxious and I need your kind advice.
At present my current take home is 1,60,000 . However, I have loans and monthly expenditures which are close to Rs 1,30,000. For some of the loans that I have mentioned above, I am only paying interest every month and not being able to pay the actual amount that I owe.
I know that I earn well and can live a luxurious life but because of these loans, I am unable to do things that a person who is earning this much would be able to do. I have kid now and want to get out of this financial problem ASAP.