Good debt versus bad debt – How do you differentiate? Typically good debt creates assets and bad debts create liabilities. But there is more to it. Sometimes your need at that point of time can classify debt as good or bad. Few other times, you can know only with benefit of hindsight!Read More
Owning a car can mean many things to many people. For some it is a way to go from point A to point B, rather conveniently. Many other may view it as a symbol of success. For some it represents manifestation of an aspiration. However not all of us bother to calculate the cost of ownership of car.
How do you calculate the daily cost of owning of car?Read More
If you get some additional money in hand via a bonus or a pay raise – what should you do? Indulge yourself, pay off your debts/ loans, if any or invest? There are seldom any easy choices there – especially when it comes to paying off debt versus investing. And both may have their own merits and demerits!Read More
It doesn’t take rocket science to understand that being in debt is not good for your financial health. Yet, lot of us fail to act and fall into the cycle of loans & EMIs. While we often treat debt as a financial problem (which it rightly is), it can impact other aspects of life too.Here are some reasons for why you should try to get out of debt as soon as possible, in case you are stuck in a debt trap.Read More
Love for debt (and EMI driven lifestyle) can be detrimental to your financial life. It can make compounding work against you and may deter you from reaching your financial goals. Hence, it is important to avoid getting into debt trap if one is aiming for financial independence or partial financial independence. Here are 10 tips to avoid getting into debt trap.Read More
Debt, more often than not, is bad for your personal finance. The burden of servicing debt and paying your EMIs can make compounding work against you. Being in debt can make you pay a much higher price than you ought to be and have a long term implications on your financial journey.But if you have debt, and multiple types of debt, how do you get out of it? Here are some tips to get out of debt.Read More