The 2 Biggest Traps of Life are Marriage and Debt Trap :) Debt Trap is like a Chakravyuh, Its easy to enter but impossible to get out like Abhimanyu. Improper Financial Planning is responsible for falling into debt trap. There are few tips on how to avoid Debt Trap. 1. Avoid too Many Loans: As a thumb rule, EMI of all loans availed should not exceed 45% of take Home Salary / Net Income per month. If it exceeds this limit then we are inviting trouble for ourselves. If majority of loan portfolio comprises of unsecured loans like Car Loan, Personal Loan etc then it shows credit Hungary behavior ... Read More
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