Our household income used to be plenty for us untill few months back but now its just hand to mouth situation. We loose more than 50% of our household incocme in loan installments and emi's.
At times, I think, we just went in for too many loans at same time. Car loan, home loan and A/C on installments, just seems alot to pay for.
So, my advise is before you go for loans, ensure your household income will be sufficient to help you meet your needs.
learn from my experience.
Live Life, EMI style
You have hit the nail on the head friend. These days we are coaxed by the banks to take loans for just about anything. Even day to day activities are being financed by these banks by way of credit cards, STPL (short term personla loans ) etc.
For a salaried class, this entails issuing cheques ( or getting them honoured , in case post dated cheques have already been given )to banks as soon as the salary comes and then wait for the next salary.
With no personal disposable income, we tend to live life the EMI style. Toil toil toil ... to get that EMI cheque honoured.
Forget about loans helping you out... they spell trouble for you.
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