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.