In all fairness to the writer (whether or not she has anything to gain by promoting travel loans), nowhere has she "encouraged" such loans. Somebody commented about "responsible journalism"; isn't journalism about informing people? I wasn't aware of the existence of such loans before I read this article. I might not go for it 99.99% of the times, but what's the harm in being aware?
Re: Don't be prejudiced
by Tom Dick on Apr 13, 2010 04:50 PM
Likewise it is advisable to be aware of the loan traps too.....so no harm to any one. People should know pros and cons....
Re: Don't be prejudiced
by sk ms on Apr 13, 2010 05:36 PM
Well to this point.. what wrong in advertising cigarettes and alcohol? Isn't that also being "aware" ? Tomorrow people may advertise drugs and then claim that we are just making people "aware" that these drugs exist and provide a kick but I am not encouraging. The point was about providing informative and positive articles.
Any finacial Institution or advisor propogating Loans for vacation must be a big cheat. He is only working to ruin you. Beware of such experts. Do not dig your own grave
Loan is meant to help you achieve today what you would otherwise achieve tomorrow. Companies take loans too but to invest it in a way that the loan pays for itself. So if you borrow at 15%, you should have a way of generating more than 15% on the loan money. For example you can buy a house today by taking a loan at 15% or buy it 5 years later when it would have increased in price by more than 15%. In this case you are better off taking loan. But if you take loan to go on a vacation, or buying expensive stuff that is not going to be costlier tomorrow than it is today, you are buying something that you can buy later cheaper from your own money after accounting for interest
This is another low from rediff. Why the heck would any one want to take a loan for a vacation? Looks at the advertisement of ApnaPaisa at the bottom of the article. It's obvious Rediff posted this interview in exchange for the ad.
Loan should be taken not for luxuries but only when it is absolute necessity, otherwise it is better to live within one's means. Going on vacation is a luxury.
