Middle class now days is stuck between Loans and EMI’s. Lot of working people face stress because of this. We are hereby providing some tips which can help you get rid of your loans and can make you happy.
1) When applying for loan, take as less as possible loan.
2) Try to take money from friends, relatives and pay them with interest instead of taking loans.
3) You can take loans from your employer, your PF or PPF accounts as well.
4) As and when you have some saving & extra money, make prepayments to the loan account. It will help you complete your loan before time.
5) Take loan as per your profile and income level only.
6) Don’t take loan for investment purposes. Take loan only when you have some urgent need.
7) Always deal directly with the Company or Bank who has provided you loan. Don’t deal through agents because now days lot fake agents are active in market.
8) Keep minimum balance of 6 next EMI’s in your Bank account. In case if emergency you should get worried about the EMI’s.
These were some of the tips which we could share. Please do share your thoughts as well.