Out Of A Job? These Measures Will Help You Manage Debt
Published by Outlook Money
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, said an emergency fund of six to 12 months of expenses helps people cope with a job loss, and suggested the avalanche method of clearing high-interest debts first.
More of Abhishek's views on debt and loans
Citing a Finsafe India survey in which 29% of respondents said they were not prepared to handle their debt after a job loss, the article sets out ways to cope. Advisers cover keeping an emergency fund, listing obligations and cutting discretionary spending, talking to lenders, paying high-interest debt first, earning interim income, debt consolidation and credit counselling. It includes comments from Abhishek Kumar.
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Out Of A Job? These Measures Will Help You Manage Debt
