My Finances – Apr 2023 Update

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Welcome to My Finances!

This is my 4th-month update since I started this page.

The purpose of sharing these numbers is to get out of debt and become debt free as early as possible. The debt payoff method used is the avalanche repayment method.

I got inspired by the blogger a purple life who shares spending & numbers on her blog.

My efforts toward reducing debt this month is mere a 1600 rupees. I need to prioritize my daughter’s school fees payment for this month. So now the credit card debt is 11,793.3

Also, I requested my friend to give me a few more months of time to close the debt. Thankfully, he agreed to it.

As I said last month, I made an investment of 2500 rupees in a low-cost index fund.

The reason behind the small sum of investment is I don’t want to give up on the habit of consistent investing. Even 2500 rupees, if it is compounded at a 12 percent rate for 30 years, can grow to 75000.

I am looking at this small investment as my future 75000:)

One more piece of good news is, due to the rise of gold prices. The gold I pledged for 90K stands for a value of little less than 2.5 lacs.


My Finances

My Mutual fund holdings are primarily index funds, tax-saving funds, and little exposure to US market index funds. No more active funds, as I switched all of the mutual fund’s units to passive funds.

The only change here is, I contributed 2500 rupees this month.

Much of stock holdings are less than a year, due to that negative return.

Note: All numbers are in INR.


My Finances

Overall, My debt got reduced by 1.7% from March.

Credit card debt.

I am laser-focusing on clearing my credit card dues.

My credit card debt reduced from 13,989 to 11,793 in April.

Gold Loan:

It pretty much stands at the same level. I am planning to make payments from June onwards.

Since the value of Gold is way higher than the Loan I have taken, Not much hassle from the bank.


This Loan I got this from my friend, the good thing is it interest-free.

If you have any queries, Please let me know.

Thank You for reading!

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