There is a popular saying in my home that "true happiness lies to those who does not have any debt on them". This has some relevance to Mahabhratha, where Yudhister was confronted by yaksha with barrage of question to save their brothers. If we look deeply on the saying it stands true to many extent. Still many people find themselves falling in the trap of loan and debtness because of various reason. Especially on fullfiling their personal needs which goes beyond their limit.
(own edited image)
My Dad always insisted to be contented with our needs, it gives immense level of happiness. We were taught to ‘spread our legs only as much as the area of the blanket’. Going beyond the limit is always harmful. This stands true in todays ocassion, where people relying mainly on show offs. People alwsys wanted more in their life. They easily get influenced with other lavish lifestyle and wanted to live like them. And in pursuit, alwsys ends up over spending beyond their income level. They arrange money either by taking loans or by utilising credit cards. They just need to enjoy life at any cost. I have seen people, ending with stress and trauma because of credit card. I think it is one of the biggest loan shark that trap the customers easily.
Credit card & Love-Hate relationship
Credit card are one of the free of cost instruments offered by the banks. It meant to allow the customer to make their purchases and pay on later date. Generally, a 45 days credit time period is allowed to make the payments. Customers finding it easy goes out all hand in making purchases when they do not have money in pocket thinking that they will pay in later. But a bad finance and financial planning make it worse for them. And these loan amount keep on mounting pressure on the customer. I have a pretty bad experince once and since then, I promissed not to avail any such credit card ever.
It was during the initial days, when credit card was launched in India and offered to the banking customer at free of charges. Finding it handy, many customers started owning and so does me. It was dispatched to our address and we started making purchases. We strictly followed the payment date ensured to make all the purchase payments on time. Soon we noticed that we started over spending on things which were not been needed at home. We asked the bank to cancel the credit card and we done with the request. However, soon we were handed a annual renewal charges. We were not aware of it, neither were told at the time of issuing the credit card. As we have cancelled the credit card, we avoided the notification. In few month we were handed over the legal notice for not paying the renewal charges. They have added multiple charges and penalty on top of the amount. It was only after multiple talks , meeting and visiting the credit card department, that we able to sort the issues. But it was a painful experince, that gave me a good ampunt mental trauma and completelly exhausted me in getting clearance.
(own edited image)
Money + Mindfulness = Financial bliss.
It gave me a good learning lesson in life, and since then I never availed any more credit card. I belive following the family saying is pretty smarter way of happy life. Though many people find "credit cards" an easy way for managing finances, but again why to spend thinking of future money peospect. If we do not have money at present, it gets difficult to ensure in future. Also being contented with our needs is also helpful in avoiding taking loans or credit from others. It is always a smarter move to pursue a greater happiness.
Be Content
Overcoming bad loans is a test of resilience and determination in the world of finance. Dealing with bad loans requires strategic planning and a strong financial mindset and staying proactive is key to financial success. I alwsys avoided taking loans in life. Even if I borrowed from someone, I made sure to get rid of it at the earliest, before pitching myself into other projects. Taking loans is easy but repaying them is a challenge. We alwsys ends up paying much more than what we had taken. This makes it important in life to avoid loans as much as possible.
Peace!
Namaste @steemflow
Posted Using InLeo Alpha
We Middle class people always taught jitni chadar utne pair pasaro, We I too follow thr same thing, I have credit card , but I don't used it... Great content...
It is always smart not to fooled with credit card and EMI scheme..they alwsy benefit the banks...but the customer just carried away.
Absolutely true, borrowing generates uncertainty and distress. I try not to borrow and solve the problems on my own and if I ever borrowed I made sure to pay it back quickly. That gives me peace of mind.
The more burden we keep on shoulder alwsys causes some problem....better to offload them and enjoy life....BTW why witches Beed to borrow they can cast their spell and make wonder.
You're right, I can make money appear!!! What am I doing🤣
Taking loans is easy but repaying them is a challenge.
True. @steemflow
So true...generally when people gets carried away by taking multiple loans
Guilty as charge. I love taking loans, the money that I get is not mine too. Yet, it's easy to spend rather than your hard-earned money. But, I'm trying to minimize it for now, since I've already achieved my plan, little by little, I'm trying to become loan-free. Hehehe @steemflow
That is rhe best thing in life to get off of all the burden. The lighter you feel, the more happier you Wil be
Thank you for the wisdom. 😊 @steemflow
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited..
This post received an extra 14.15% vote for delegating HP / holding IUC tokens.
👏 Keep Up the good work on Hive ♦️ 👏
❤️ @bhattg suggested sagarkothari88 to upvote your post ❤️
🙏 Don't forget to Support Back 🙏
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
Credit card when utilize properly with good financial acumen could help in loads of way. One example will definitely be the easing of cashflows! 😁
You are right, taking a loan is so easy but to repay it back it will now become so difficult for us.
https://inleo.io/threads/steemflow/re-steemflow-xcrtkiwj
The rewards earned on this comment will go directly to the people ( steemflow ) sharing the post on LeoThreads,LikeTu,dBuzz.