Lesson from 2008 economic debacle: Live without debts!

Buying freedom without spending:

Year 2008 was a disaster for Middle Income group and for investors. People lost Money, homes, jobs and their way of living. The people who had gained from investments in few preceding years saw the tsunami of debacle wiping out gins within a span of few months.  However seeing the things so closely, it did make me think as to what lessons can be learned from the entire episode of collapse. I realised that the only lesson which can be learned, is to live without debts. That must sound incredulous to most. Actually there are billions of people who still do not borrow besides the other millions who are in debt right upto their nose. Continue reading

Borrowers' trap: Lend me money against my cheque, I shall return in 10 days!

Rupee-INR-Gandhi-1000-currency-note

© sandeepbhalla.com

Ever heard the preposition “Lend me money against my cheque, I shall return in 10 days!” or something similar. Borrowers are all around us. Often such preposition causes a dilemma. Accept or not to accept? What should be the excuse? If amount is small it is even more embarrassing. If a person from whom it is being borrowed is ill or indisposed, it should be embarrassing to borrower but it is not.

The debt business:

Long time ago I met a publisher who told me that ‘Borrowing’ is a latest business. Presently I am suing him in court for counterfeiting my books. But as an unscrupulous person, he knew the mentality very well. But it can not be generalized. But as far as strangers are concerned lending money is complete NO. But there are people around us act to be friends, neighbors, relatives etc. After are we are not going to sue them if they default. What about them? So the question is how to decide to lend or not to lend money? Continue reading

Borrowers’ trap: Lend me money against my cheque, I shall return in 10 days!

Rupee-INR-Gandhi-1000-currency-note

© sandeepbhalla.com

Ever heard the preposition “Lend me money against my cheque, I shall return in 10 days!” or something similar. Borrowers are all around us. Often such preposition causes a dilemma. Accept or not to accept? What should be the excuse? If amount is small it is even more embarrassing. If a person from whom it is being borrowed is ill or indisposed, it should be embarrassing to borrower but it is not.

The debt business:

Long time ago I met a publisher who told me that ‘Borrowing’ is a latest business. Presently I am suing him in court for counterfeiting my books. But as an unscrupulous person, he knew the mentality very well. But it can not be generalized. But as far as strangers are concerned lending money is complete NO. But there are people around us act to be friends, neighbors, relatives etc. After are we are not going to sue them if they default. What about them? So the question is how to decide to lend or not to lend money? Continue reading