Mind Cultivation: A dark hole of Credit

Tuesday, December 19, 2006

A dark hole of Credit

India is fast paced becoming a credit economy every where today credits are readily available. Credit for business, credit for professionals, credit for artisians, credit for car, house . you can get credit for almost everything -except for death rituals.
Well as economist have predicted before hand that India is going to be credit taker. Budding tribe of wage earners , high consumption rate insatiable desire for consumption is fueling to the cause . Take example of living space in Metro cities the prices of 1000 sq ft which is considered to be enough for the family of 4+1 is no longer a sensible figure. The prices of flats and residential spaces have reached to peaks months after month, either people are buying places after places or this is a mirage. The increasing habit of living in credit is becoming a catch 22 situation, People work so that they can earn but today they earn so that they can spend and with credit on there back they work to repay the credits .
Increasing number of people succumbing to the cycle of credit month after month , they are all plugged to something they cant even come out of dark hole of credit.

The cycle goes on and on , if you look from a birds eye view this becomes a ritual - One spends ina month throug a credit card and next month pay the last months bill or most of the earning goes in getting reliecved from the surmountable interst of credit .

Only solution is Control, Discipline in ones spending. Ancestorial concept still hols peace of mind and relieves stress, they used to hate credit and loathe the habit of it . Saving was the mantra but who follows this . Its one life one time you wont be young for ever so why stop... well i guess there are always going to be justification to this . Its up to people to choose what they want from life .

1 comment:

Charlene said...: This habit is more prevalent with the working people of the age group of 20-45. They have become addicted to spending now and paying later. And thus they are under the influence of debt which inturn brings on teh stress.

We need to learn from our parents generation, where they saved and invested for their future.; 10:36 PM

Post a Comment

quotes

There are people who have money and people who are rich.

Wealth may be an excellent thing, for it means power, and it means leisure, it means liberty.

Money often costs too much.

Young men want to be faithful, and are not; old men want to be faithless, and cannot .

No wise man ever wished to be younger.

Be happy. It's one way of being wise.

Happiness is not a goal; it is a by-product.

Of all the things you wear, your expression is the most important.

That man is richest whose pleasures are cheapest

We choose our joys and sorrows long before we experience them.

There is no greater joy nor greater reward than to make a fundamental difference in someone's life.

You are only young once, and if you work it right, once is enough

Women now have choices. They can be married, not married, have a job, not have a job, be married with children, unmarried with children. Men have the same choice we've always had: work or prison.