The budget session is round the corner. India’s taxman P. Chidambaram must be very busy these days. On this occasion I remember a poem which I wish to share with all friends here.
I am the taxman, I am the taxman
Beware of me, I am the taxman
If you drive a car, I will tax the street
If you try to sit, I will tax the seat
If you get too cold, I will tax the heat
Guidelines for Loan decision
1. Analyse the need and priority
It is very important that one does a fairly detailed self-analysis and introspection on the need and the usage for which the loan is to be used.
– Avoid buying luxury appliances on loan
– Avoid as far as possible usage of Credit cards and loan conversion options on those purchases
2. Budget expenses
It is always a good practice to budget the major expenditure on a monthly basis.
– Cover regular expenses including credit card payments and existing loan repayments