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Showing posts from July, 2015

Dissecting loans, EMI and Life

If you belong to the salaried class and you are trying to save money for your future then you get,

1. At least, one call a week asking for a Home loan/Pre-approved loan/Car Loan
2. At least one mail a week from an online seller with discounts or products listed under Easy EMI options 3. At least, one mail from your bank on the offers available for your credit/debit card 4. At least, one mail from the shops you've previously visited 5. At least, one SMS from food chains you've previously visited
Yes! there is an option to unsubscribe to these alerts. But, if we slip into any one of these without adequate financial knowledge of what we are doing, trouble awaits us. The reason I'm writing this now is not because I'm against loans, EMI or other complex financial products. The knowledge about financial planning is scarce among young people and they easily fall into financial quicksand. The more they want to come out of it, the faster it swallows them into it's trap. Le…