One of the biggest money mistakes Sai Pramod G.N. says he made in his life was investing in a single asset class—real estate—by being in a hurry to clear off his home loan. He bought a house in 2003, and for 10 years after that, he just focused on repaying the loan.
“I just wanted to get rid of the loan. Whenever I had a salary increment or had any surplus, I just increased the EMI outflow to the bank,” he said. That helped in finishing the loan 10 years before it was slated to get over, but “that was a bad idea”, he said.
