Loans/credit cards….Sleepless nights

While reading a news about people struck in other countries , their worry not just fear of job losses but the accumulating loans installment and liabilities, it lead to the question “Whose fault” ? While pandemic is an unforeseen situation, but huge debts (which ever forms) is adding fuel to the fire. Isn’t it ?

When so much is being said about the current Situation we are in, it occurred to me would people start to think about their finances from a different angle.

Financial insecurity might be the major issue after the coronavirus, and a major cause of sleepless nights for majority. For the people who have been spending more then their means, is it not their fault ? Loans for cars, homes or marriages etc , credit cards for groceries to travel expense has been norm of the day for modern world.

The people who have lived strictly by their means , may only have one worry “one square meal ” a day for their families. And the one who had saved for rainy days only have to spend wisely.

But what about people with loans and credit card over spending . The banks and financial institutions may have given temporary relief but nobody is writing-off completely. So the pay back time is hanging like a sword.

Is it not the RIGHT time to INTROSPECT and do a few lifestyle changes. ?

SIMPLY…….

“SPEND WHAT IS IN YOUR POCKET”

This is what our parents and grandparents used to do.

Copyright (c) 2020 Namrata D Prabhakar

6 Replies to “Loans/credit cards….Sleepless nights”

  1. Well people who spend beyond their means burn their hands when things don’t go as planned. Frugality is a lost art. We live in a world where it’s a show business all the time. Thanks to consumerism.

    Liked by 1 person

  2. The most affected is the middle class as this is the class which doesn’t spend wisely and also doesn’t get any help from anywhere in most situations, nor is self dependent enough to manage this crisis fianancially.

    Liked by 1 person

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