Tujhse Hai Raabta

“It is important that you should save a lot more and spend a lot less for an otherwise highly secure and stable financial future for not just you but your loved ones as well.”

This is indeed well-meaning advice that our elders have often repeated to us. But in the rush to get ahead in the rat race, hardly anyone now tries to follow these old words of wisdom.  Of course, we ‘talk the talk’ and make resolutions to live within our means, but to actually follow this advice in letter and spirit is not an easy task, per se.

However, we start pondering the wisdom of saving more and spending less whenever we end up in a financial jam. But it does not always have to be this way since the following tips will effectively help ensure that you do not end up severely in debt, in the first place:

o   If you need must use a credit card,then try and use the least expensive one around


When acquiring a credit card for yourself, it is always wise to shop around first and see exactly which one comes with the least interest rate,rather than going for one that comes with the maximum credit limit.

Here, you should always remember, that some credit cards are way more expensive than others, depending upon the kind of services they provide. Rather than buying to the media hype you should just simply check the tariff rates first and foremost, before procuring and using a credit card.

A rule of thumb that you should follow is that on no account should you ever go for a card that has the maximum credit limit. The more the limit the more you spend and the higher the corresponding interest (and principal) payments.




o   Live a more well-balanced life


An element of financial balance is critical for just about any sort of a reasonably good lifestyle. And its not just monetary concern alone, but rather such balance should include anything and everything from eating to sleeping to working. However, this holds especially true for your finances. In fact, it is very important to save at least a certain aspect of your monthly earnings for that proverbial ‘rainy day.’

It is not necessary that the amount should be really large, but rather an element of consistency is way more important, to say the least. In a nutshell this saving has to take place month after month. Year after year.  If you do it consistently enough, then with the passage of time, you will be able to have a sizable nest egg. And once you invest it, then your savings will be able to earn for you as well.

Following these few basic rules can certainly go a long way in ensuring that you remain debt free… For life.