Skip to main content

EMI on Debit Card; Good or Bad

10 questions to ask when chosing EMI on Debit Card


Online Stores like Amazon, Flipkart etc has made ties with Indian Banks like ICICI and others. Now your Debit Card will work like credit card given if you have some savings in your bank as Fixed Deposit. Buying is made easy now. After cash on delivery, EMI on Debit Card is second most eye catching utility. Stores want you to buy more. Banks want you to sell more money. They will always want, its there business.
EMI on Debit Card means no extra paper work for getting a credit card, plus banks will be in safer side. In past decade Credit Card fraud was enormous as credit limit on a credit card goes high in accordance with your purchasing power.
Customers are also in safer side as 'buying very high value articles and then unable to pay thing' will be minimized.
In countries like US, UK there run consultancies with promise of making you Debt Free / Credit Card Debt Free, as people buy and then unable to pay.
No matter how many security instruments are out there in the market, but you are the best instrument to safeguard yourself from falling in a debt.
In my experience, most of the debt trap happens because of indecision, ego and emotions. Lack of doing simple math is also a big problem.
Before you buy, ask these 10 questions
  1. How much savings I have
  2. How much I need to pay for EMI
  3. Whether I will be able to pay EMI hassle free
  4. Whether my future responsibilities will go higher
  5. Is this thing I truly need
  6. How much extra money I will spend if buying on EMI
  7. Do I have funds for rainy days
  8. Do I have alternative options to get this article for less price
  9. How much money I will save and make if I save the amount equivalent of EMI
  10. Which is the best store that offers me low cost EMI 
Never take borrowing decisions based on ego or emotions.
Indecision is when you are not sure.
Labels:

Comments

Post a Comment

Popular posts from this blog

How to Write Right Labels or Tags for a Blog Post?

In this article, I am illustrating how to write correct labels for a blogger blog post? This is also useful for writing Word Press Tags and Optimizing Static and Dynamic Websites. Labeling your blog tips by www.dkoffice.in web production services Here I am on Blogger, so let me say, how to write labels for a blogspot.com Blog Post? Well, oftentimes you see such billboards while driving your way to home or office. At times, you also stop by those malls and shops, look for stuffs and buy few. Better the billboards more the footfalls and more sales. YES! That’s the trick. Sellers / Advertisers are not fooling anyone anyway; indeed they are putting best offerings in a big size board to show public. They are showing best eye catching labels and weekends are busiest days to them. They presented a reason to get more footfalls.
Post a Comment
Read more

Why you should not hire me, reasons here

I think you should not hire me to do work, you should not pay me for my efforts, you should not make me part of your project, business or team. Why, here are my reasons 1. I am not yes boss person, I am straight forward, you like it or not who cares. 2. I am lazy. I don't like to carry my cell phone everywhere, it makes my weight some extra. 3. I am time waster. I take my own time to finish a task. I cannot work in hurry. 4. I am unavailable. I love my sleep. I  stay in silent zone. You need to fix time to speak on important stuff. And you should be available in given time. 5. I am not good friend. I won't tell your team where do I live. When I do party. What is my age? How much I earn. I don't want anyone to peep into my personal space. 6. I perform poorly. You are looking to make that thing so big, you are looking to beat an intel or google. I hate doing things which are done already. 7. I am mean. Perhaps you running this business for money. Sorry, my prices are high. 8....
Post a Comment
Read more

Valentine's day: An opportunity to thrive in career

 The month of February, precisely 14th February, gives us a chance to live in the present, accept change and embrace new opportunities. Generally, supposed as a festival of young adults, beyond common beliefs, the festival is for everyone who can spread a message of love and peace, who can share a smile. Life is all about partnership, without partnership it should be boring, then there shall happen no competition, you will do everything alone and you will always stand a winner. Imagine going out with your best friend, shake hands with small children, sharing your portion of meal with someone sitting on a street corner, asking change, hiding best handwritten card in your best friend notebook reading something truly lovely, gifting a rose to your parents, playing an indoor game with your siblings, or taking an initiative to clean the seas, would not these acts be ultra satisfying? To join a celebration is a personal choice, to celebrate any day or not is fundamental human rights, cre...
Post a Comment
Read more