Wednesday, March 20, 2013

Don't Fall into the Credit Card (Loan) Trap; Promise of Heaven, but It's Hell

Sad is the story of Donato and his wife Elizabeth who had to kill their children and consume poison because of financial troubles.

True for some time Donato lived the Bombay dream of a flat, a car (a Fortuner SUV) and a lifestyle that included travel and eating out. But when he lost his job and bills kept mounting he had no alternative but to kill himself and his children. But why kill the children for his excesses and sins? His agony and anguish must have been great, as is for most of us. 

Today, finance is something you should treat with kid gloves. A credit card is a trap and you can fall into it any time. There are executive out to sell you credit at all times, promising you easy EMIs for anything you want: vacation, flat-screen television, computer, tablet, anything. They are concerned not for you, mind you, they have to meet their targets. Do not fall into their trap and buy with your credit card thinking you can pay it as you go on. A job is a job and these days you can lose it at any time. 

Of course, you get momentary joy from these gadgets, but all that disappear when the bill comes and you have to pay. Try getting money from relations or friends. They are all in their own personal hells to even think of helping you.

This world is progressing into a world of the rich and the affluent who suck out the money from commoners like you and me. All high-profile business owners are in the docks these days for their indiscretions. Thankfully they are caught, but they have already done the damage. 

John is @johnwriter on Twitter and John.Matthew on Facebook. He blogs here. His Youtube Channel Page. His novel Mr. Bandookwala, M.B.A., Harvard.

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