Right thing at the right time is the cardinal principle for any success & availment of any loan by an individual or institution too applies to this.Purpose of the loan,its cost & the repayment capacity are the three essential things always to be born in mind whenever one thinks of a loan-either it be an institutional or from individuals.Increasing trend of materialism coupled with access to loans-especially by credit cards which are of utmost danger if not used judiciously play havoc in the budget of a person.Saving concept for the rainy day & for future use by the progeny etc are slowly becoming extinct -thanks to wrong conceptional tendencies-especially after the boom in the IT sector.Youth fail to realise the importance of money & tend to spend free impulsively- whether really needed or not.Most of the personal & consumption loans taken are non-productive & prove burdensome in course of time-especially if one fails meet with the repayment schedule-more so in case of credit cards where the interest gets compounded to whopping & unbearable extent.Comparatively gold loans are easy to be availed & bear lesser interest rate with least requiring liquidation-in most of the cases within one year-at least in case of those availed from banks.It is dangerous to pledge gold at the private money lenders who charge exorbitant interest only with an ulterior motive of disabling the borrower with the incidence of interest
Re: there are some useless topics for discussion
by hemant tiwary on Sep 07, 2012 02:16 PM
how can u judge an article as useless, on what basis it's useless ? It might be useless for you. Quite obviously it's is a very good topic as today more then 50% salaried people are under the huge burden of loans. So it's a quite an interesting topic and i give 3 cheers to rediff to highlight such a topic.
