Personal Finance Alert: How Can We Steer Clear of Debt Traps Together?

Hello Professional HR & Business Veterans,

Please find attached a very inspiring watchdog whistle-blowing personal financial planning lesson in ET on how to avoid falling into a debt trap.

Regards,

This is such an easy trap to fall into. AVOID AT ALL COSTS. If you don't have money for it, you don't need it now. Plan for it. Nothing is that important or urgent. We all need items, but we need to avoid the cost that comes with them.

Suggestion: If you see something you like, put a small percentage away each month, be consistent in your saving, and except for a house or vehicle payment, rather wait for it. See what you will save. If you need it now, always remember, "Fine, but I will be paying for it for many years..." - Robert

Hi, this was nice advice, and it is really good but tough to implement. Awaiting more inputs on personal financial management.

Regards,
Naga Swapna