I am getting 27000 p.m & having two personal loans GE & Citi emi is afround 2700 each I am paying monthly & there are some more expenses like petrol etc. also & I don't understand how to quit from this loan I mean the one time payment is too heavy for both what I should do I am not able to save at all, can you suggest me some good points for saving.
RE:savings
by vikram shah on Jan 16, 2007 11:49 AM Permalink
take another loan & repay the existing loans.concentrate only one at a time.try to take loan from nationalised as they a bit better than from whom u have mentioned.
RE:savings
by praveen bothra on Jan 16, 2007 11:18 AM Permalink
Start spending only for a purpose. You must know that it the essential expenses which i have to do now otherwise defer it till you repay the full personal loan.
RE:savings
by bhaskar chintal on Jan 17, 2007 09:19 PM Permalink
HI Bhawna as per u r salary stracture your annual income is 3.24lakhs and where as you have up to onelakh tax exemption and anything more then that you have to pay 10% tax but as you taken the personal loan which will help you for tax saving even though if you want to go for savings than its batter to go for manual funds which also gives you tax benefits,where you require to invest a some fixed some of amount and you can get the annual returns and dividents (some times 3time a year based on your MF inveastment) otherwise if you are not a married person than its batter for you to stick to your self that you have to save atleast 5% of your monthly salary irrespective of your exp & loans.
further asst. contact me to my mail id bhaskar_13dec@yahoo.com
