Anand was in trouble – and credit cards were to blame.

Anand isn't exactly a big spender, he just likes a good time. Nothing flash – having a laugh with his mates, stuff like that. But if there is one thing that he doesn't mind splashing out on, it's Anita, his girlfriend. Meals, holidays, surprise presents – she's worth it.

But he's in trouble. With four credit cards spent up to the limit, he's finally had to admit that his debts are out of control.

For a long time, he's been kidding himself that he's on top of things. It's like he's been pulling off this financial juggling act, swapping spending from one card to another. But he's been in trouble for quite a while.

He knows he's been ignoring the problem but it's a lot easier not to think about it. It had all just become a bit of a habit – going out for a nice meal and taking care of the bill at the end of the evening. In fact, he's been using his credit cards for practically everything – even for getting money out of the cash point.

It caught up with him when Anita saw him tearing up a credit card bill. She thought he was looking shifty and asked him what was up. And then the whole story came out.

Anand had been afraid that Anita would think less of him but that isn't the case at all. She's very supportive but tells him that he can't keep ignoring the debt – it isn't going to go away. In fact, it's going to get worse, as the interest is piling up too.

At Anita's suggestion, he contacts few financial planning advisers for some free advice. He vows to cut back on his spending and they help him to draw up a budget and to negotiate terms with his creditors. They also tell him he shouldn't be using his credit card at the cash point – he'll be paying interest on the money he takes out.

By admitting that he's in trouble and needs help, Anand's taken the first step to regaining control of his finances.

Puja thought she should start saving – but there was the small matter of her credit card debts to consider.

Puja's decided she really wants to start saving. She hasn't got a particular goal in mind but she does fancy a little nest egg.

However, she's been running up debts on her credit cards. As far as Puja's concerned, she's in control. After all, she only has a couple of cards and it's not as if she ignores her bills – she always pays the minimum each month. It isn't a problem.

Her friend Shweta disagrees. She persuades Puja that they should sit down and work through the figures together to see if saving makes sense for her at the moment.

Puja was thinking about putting Rs.500 a month into a Recurring Deposit account that pays 8.25% interest. After two years, she'd have Rs. 13,079.65 – and that's including Rs. 1,079.65 of interest.

However, she does have Rs.10,000 outstanding on her credit cards, which is being charged at 35.4%. In a year, her credit card bills would go up by Rs.18,333.16 even if she didn't spend any more!

Puja's a bit shocked but agrees that it's best she doesn't start saving quite yet. And her mind's now focused on that credit card debt. She wants to reduce it – and her dependence on credit cards. She decides that she might give her financial planning adviser a call to see how best she might go about it.

Rajesh thought the scheme would make him a million – but he's had to learn to live with his mistake.

Forty-year-old Rajesh's always wanted to do the right thing. So when a friend of a friend told him about an opportunity to make money fast, he thought he would go for it. It could provide the financial security he wanted. After all, success was as good as guaranteed, wasn't it?

Well, to cut a long story short, Rajesh lost his money. And he's learnt a lesson – if something looks too good to be true, then it probably is.

What's worse, he's lost his investment, but he also begins to find it difficult to cover his everyday spending. Instead of a financial windfall that would set him up for the foreseeable future, he finds himself worrying about paying his mortgage. And he's already behind on some of the bills.

For a while, Rajesh's been trying to pretend that everything's fine but he's starting to feel overwhelmed.

His brother suggests a discussion with a financial advisor and so Rajesh makes an appointment with few of them to talk things over. It's definitely the right decision. They help him put together a plan to deal with his creditors and a budget to keep his finances on an even keel.

With a new job under her belt, Latha was ready to work out her financial priorities.

Latha's 23 and just landed her dream job. It's the first time she's earning proper money and there's plenty she wants to do with it! A car, a place of her own, some fantastic shoes – and that's just for starters!

But she does realise she can't do everything straightaway. And, what's more, there's the future to think about too.

Latha's been living with her parents. Although this means she's been lucky enough to keep her debts to a minimum, she knows what she really wants is a place of her own.

She decides to set up a monthly savings account so she can gradually build up a deposit. That way she won't be tempted to spend the money. Her dad had pointed out an article about high interest rate on selected term for fixed bank deposits in the paper – to her surprise it seems a really simple way of saving. After calling and discussing with the customer service desk of her Banker regarding interest payable on various duration, she diverted her fund in her Savings Bank Account to Fixed Deposit Account and that's it – easy.

Although she's young, Latha knows she's got to think longer term too. She's already decided to make additional contribution on the Occupational Pension Scheme with her employer so that she can have the benefit of aiming for higher accumulated amount at retirement. But she also wants to get some professional advice. She wants to meet about three financial advisers, decides the one she feels comfortable with and then get on with planning for the rest of her life.