My Finances – Feb 2023

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Welcome to My finances!

This is my second month’s update.

I want to transparently share my investment numbers and debt level with my blog readers.

I hope my reducing debt level might induce some motivation in you to cut short your debt. The debt payoff method used is avalanche repayment method.

It also helps me personally later, as the numbers progress.


my finances

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

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 10.74 % from January.


Credit card debt.

I do have credit card debt, which I got into without getting to know the charges & interest behind it. I screwed it up. It’s alright!

It is okay to do mistakes. I reduced my credit card debt from 63,500 INR to 48000 in February.

I am planning to pay off my credit card debt first. I am using the debt avalanche method.

I am hopeful to reduce my credit card debt to 40000 by the end of February.

Gold Loan:

This loan I took for relocating from south to North India. One good thing is, this loan is against gold. The value of gold appreciates over time.

Recently, the bank is ready to give me another 50,000 loans on my existing loan to match the value of gold which I politely didn’t accept.

They are charging 9.85 % interest on an annual basis.


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

But I got to pay the entire amount by May, so it is time-bound debt. I made 5k against this Debt in Feb.

The goal of the year- 2023:

I have just one goal!

I want to be debt free. That’s it. Stay tuned for my March 2023 update.

Thank You for reading:)

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