Debt is the trap for the middle class

Debt is the trap for the middle class

I believe, the Debt culture is the biggest trap for the middle-class people.

Think about the assets that we are generally buying with a credit card, personal & home loan.

Home appliances are one of the major beneficiaries of credit card usage. We are spending around 90% of the money through credit card to purchase all the home appliances.

Around 70% of personal loans has been taken it for upgrading lifestyles. which is potentially becomes ZERO valuation.

In the financial world, that’s called as depreciated assets.

Let’s take a television as an example, I bought a Sony 3D television in 2017 for 76k. Now If I would sell it, it would cost around 10 to 20K maximum.

Which is the loss of around 75% of the investment. Is it reasonable?

Am I able to run my life with a small television?

If you like to buy anything, it’s recommended answering the below query.

Is that Good to have or Must to have?

Try to postpone it for 3 days before purchasing any assets.

Surprisingly, you can see the result as that would save you 75% of investments from depreciation Assets.

It’s Hard to DO but doesn’t mean that impossible to DO. Think Twice before ….

All the Very Best! Feel free to share your feedback/thoughts.

Menu

Known

Known

Follow Me

Please note

This is a widgetized sidebar area and you can place any widget here, as you would with the classic WordPress sidebar.