The right way to enjoy your vacation is to plan it well in advance and save regularly for it, as there is no point in taking a holiday which results in financial stress at a later stage
The above statement of one of the most learned and wisest men on the earth clearly brings out the benefits which one can derive from undertaking a travel. With globalisation, inspiration of Indian people have multiplied many a fold. Earlier, we used to be happy with imported goods. Now, we, instead, want to travel to the countries of origin of such goods.
In my childhood, visiting a nearby religious place was considered to be the only holiday which we looked forward to, but the same isn’t true in the case of my daughters now. Indians not only travel within the country, but also travel to every nook and corner of the globe, these days.
Each travel comes with a costs in terms of air tickets, hotel charges and shopping as well which is part of the travel. Such costs can be met by using the savings. But, some people borrow money as personal loans or avail themselves of credit facilities offered by tour operators, to meet the cost of the travel and repay the same by way of an Equated Monthly Instalment (EMI). The money borrowed on personal loans is given without any security, so generally they cost more in terms of rate of interest ranging between 15% to 21%. So, should you borrow money through personal loan bearing a high rate of interest or use the credit facilities offered by some of the travel companies, which have the interest built into the price of the tour? Let us discuss.
Should you borrow for your holidays?
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
7 Ways to Prevent Text Neck
Our head is heavier at an angle than it is at a neutral position. That means our increasing usage of smartphones for reading, texting, etc is putting undue pressure on our spine
How To Take Your Networking To Next Level
Networking is one of the best ways to use your time
5 Fun Ways To Save Money
There are several simple ways to reduce spending and rack up more cash. Sukanta Kundu lists some interesting ones.
In Search of Higher Returns Amid Falling Rates
As Bank Deposit Rates Fall, Even Conservative Investors Are Switching Assets. Where Can They Go?
National Savings Certificates Help as Interest Rates Fall
National Savings Certificates (NSCs) have been among the most popular tax-saving options for ages. In spite of the advent of market-linked investment products such as equity-linked savings schemes (ELSS), the certificates have retained their charm for certain sections of society. In this column, let us discuss the various facets of this special instrument of investment.
What Drives Us to Invest?
I had made the journey from economics to finance. As part of Keynesian economics, we were taught about the three motives to hold money: the transactions motive, the precautionary motive and the speculative motive; all through my teaching career that remained part of my Keynesian economics. But two decades, later when I immersed myself into the world of investment, I had to develop my own tools to understand the new discipline and make my investors understand the working of their own minds. One night as lay turning on my back, poring over the day’s happenings, suddenly I made a strong connection between what I had studied years back and the problem I was grappling with now: the motives.
Ask The Finapolis
Col. Sanjeev Govila (retd) of Hum Fauji Investments answers readers’ queries on investments, taxation and personal finance. Do you have a question you want answered? Email your question to feedback@thefinapolis.com
Input Tax Credit To Benefit End-customer
Looking at the scale of India, it is reasonable to expect 3-5 years for the system to stabilize
Will GST Really Spike Up Your Bills?
As goods and service providers can claim input tax credit, your net tax bill will reduce say experts
The Bull Run Is Here To Stay
Karvy Finapolis’ event —“Is this the mother of all bull runs?” — evoked a thunderous response from investing public recently in Hyderabad.
