Most of us have borrowed money for some reason or the other. There’s nothing wrong with debts as such because it helps in economic growth. You take a loan, invest it wisely, get returns and then repay the loan. There’s no healthier system than that. But when your loan goes beyond your repayment capacity, real problems crop up, for you. Surprisingly, many of us don’t see the logic that we shouldn’t borrow more than what we can repay or our calculations go wrong! This is the reason that its felt by financial experts that the loan sanctioned should be restricted or based on a number of categories like your salary, your savings, your credit history and other loans etc.
These days with credit cards and store cards in abundance, taking debt has become so easy that it has become an indulgence. [...]
>
Subscribe to RSS
