Good debt versus bad debt

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!

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Paying off debt versus investing money?

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!

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10 reasons why you should get out of debt

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.

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10 tips to avoid getting into a debt trap

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.

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Tips to get out of debt

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.

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How compounding can work against you?

Compounding can work wonders for your financial life. But, there is a catch. This assumes that you are prudent and wise with your money. Unfortunately, most of us aren’t. And this is a perfect way to make compounding work against you.

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10 reasons why people take personal loans

Running short of cash and the need is immediate? Dan’t worry, there is always a personal loan in the offing. Personal loans are, of late, not too difficult to access if you have a relatively stable source of income. In fact lot of banks & NBFCs have made a good business out of selling personal […]

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Are you in a virtual debt trap?

Have you ever been in a situation where you have savings to buy something, but choose to buy it taking the loan/ EMI route? If the answer is NO, you are hopefully taking a right approach towards your financial life. If the answer is YES, then you are in a virtual debt. And you are […]

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19 financial mistakes to avoid in 2019

As the new year begins, I wish everyone a very Happy New Year. I am hoping that this year, I’ll make better financial decisions and hopefully people reading this will also do so. One good first step can be to avoid making bad financial decisions and keep improvising. Here are some financial mistakes one can […]

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Worst loans and debts that you should avoid

Giving loans is a lucrative business. Business of banks and financial institutions rely on people taking loans and then repaying it, thus giving them profits. Many have built a fortune based upon giving loans. Loans also serve an important function for the economy by being a facilitator to businesses, housing, automobiles and other elements of […]

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