Indu Khurana, 63, is a professional with a Masters degree who now earns less than she did in the 1990s after leaving a career in IT to become a psychotherapist. She shares her financial journey in this week's Me and My Money.
Early life and career
Khurana moved from India to the Midlands at age seven. Her family faced relative poverty, and she often went without school trips or luxuries. After studying Computer Studies at Birmingham Polytechnic, she began working in IT, starting at a salary of £12,500 in Preston. She later bought a two-bed terraced house for £35,000 in her late 20s, with help from her parents for the deposit.
Transition to psychotherapy
Despite a reasonable IT career, Khurana felt unfulfilled. She volunteered at Childline and realized her true calling. In the 1990s, she self-funded a five-year diploma in counselling while working and volunteering. By 1996, she left her IT role, earning around £25,000, and entered the charity sector at a significantly lower salary.
She completed a Masters in Psychotherapy with Children and Adolescents in 2007 and worked for the NHS. In 2022, she started her own psychotherapy practice, now earning around £20,000 annually. She focuses on helping people with MS and autoimmune diseases, drawing from her own health journey.
Health battles and financial decisions
Khurana was diagnosed with Multiple Sclerosis in 2017 after years of fatigue and vision issues. In 2022, she spent £100,000 on HSCT treatment in Mexico, a stem-cell transplant that halted disease progression. She funded this through mortgage extension, savings, family help, and crowdfunding. She calls it the best financial decision of her life.
Monthly outgoings
- Mortgage: £200
- Council Tax: £240
- Home Insurance: £300
- Phone & Internet: £40
- Energy: £110
- Car Insurance: £400
- Groceries: £40-£50
- Savings: £100
Financial outlook
Khurana lives within her means and advises getting on the property ladder and maintaining a rainy-day fund. She shifted from a poverty mindset to an abundance mindset, which she says makes a massive difference. Despite earning less than in the 1990s, she finds fulfillment in her work and sees potential to grow her business.
