Managing loans as single-income families
Everything rests on one payslip, so the margin for error is thinner than the household usually admits. The priorities are cover and cash: term insurance, health insurance, and an emergency fund at the longer end of the range.
- Built for
- The family
- Focus here
- Loans and EMIs
- Price
- Free
not one person
of the full picture
no card needed
The problem, specifically
Everything rests on one payslip, so the margin for error is thinner than the household usually admits. Loans are the largest and least visible part of most household budgets — the EMI leaves automatically and nobody checks what the loan is actually costing.
What to set up once
Each loan with its rate, tenure, interest type and any staged disbursement. Flat-rate loans converted to their real reducing-balance cost. Prepayments recorded as they happen, so the payoff date stays honest rather than theoretical.
The number to watch
Total EMI as a share of take-home. Under 40% is comfortable, 40-50% is tight, and above 50% most lenders will not add more — which is the market telling you something worth hearing.
Where FamTally comes in
FamTally covers loans and EMIs for single-income families: loans with real amortisation, income and recurring expenses, assets valued at today's prices, insurance with renewal reminders, goals with projected dates, and a five-year cashflow forecast. Invite the rest of the family with view or edit access so the knowledge is not held by one person. The AI assistant answers questions against your own numbers — "can we afford this?", "which loan should we clear first?" — instead of offering generic advice. Free to use.
Stop doing this in a spreadsheet
FamTally keeps your loans, income, expenses, assets, insurance and goals in one place, forecasts five years ahead, and answers questions about your own numbers. Free, and built for Indian families.
Start freeQuestions people ask
Is FamTally suitable for single-income families?
Yes. It is built around an Indian household rather than an individual account — loans, income, expenses, assets, insurance and goals in one place, shared with whoever needs to see them.
Can more than one person use the same account?
Yes. Invite family members and give each of them view or edit access. Everyone sees the same numbers, which is usually the change that matters most.
Does it connect to my bank?
No. You record what matters — income, expenses, loans, assets and policies — and the app does the calculation, projection and reminding. Nothing needs your banking credentials.
What does it cost?
It is free to use, including the AI assistant within its daily limits.