I don't like borrowings. But these days, getting loan or finance for every thing- house, vehicle, furniture- is very acceptable. The moment you start earning, you must possess everything- even if your get home salary gets reduced to one third.

As loan is considered normal, it is necessary to know how much you can borrow with your current income. Here is calculator.

http://in.finance.yahoo.com/news/loan-eligibility-calculator-085450165.html

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

It's not the question of maturity. It's related to a psychological aspect known as False ego or prestige. Such people are more interested in "showing Up." Thais attitude drove many people to go for many things which are not required at all. And the easily available bank loans add fuel to the fire. They never think about their loan repaying capacity.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

It's not the question of maturity. It's related to a psychological aspect known as False ego or prestige. Such people are more interested in "showing Up." Thais attitude drove many people to go for many things which are not required at all. And the easily available bank loans add fuel to the fire. They never think about their loan repaying capacity.

I agree. Loan for house only is prudent.

Loan is cancer, one should stay away from all these in order to have a considerate and free mind and heart.