From Loan Taker to Wealth Builder: A Step-by-Step Plan

Transforming your financial life from being burdened by debt to actively building wealth is a journey. Here’s a simple roadmap:

1. Get Clarity: Use a simulator to understand your total interest outgo and loan tenure.
2. Find Your Surplus: Create a simple budget to see how much you can save and invest each month.
3. Choose a Strategy: Decide on a mix of prepayment and investment that suits your risk profile.
4. Automate Everything: Set up auto-debits for your SIPs and recurring instructions for prepayments.
5. Review Annually: Once a year, review your plan and increase your contributions as your income grows.