"Don't dig your own pit"

But don't enjoy your life by becoming a debtor to somebody.

Ofcourse in the modern world,there are many ways and means, which force you to become a debtor.

Attractive advertisements in the satellite TV force you to become a debtor.It tempt you to buy the modern amenities at any

cost.

Even though if you don't have any money or resources it show you many resources for obtaining credit to buy that

product.But you must think thousand times before becoming a debtor.

In today's world credit is the easily available commodity.Numerous companies waiting to pull you in their trap.They are

competing severely to pull you in their trap.

But you must be careful to entangle in that trap.

In spite of this caution if you are prepared to enjoy,then you won't get any pleasure,but you will lose your peace of mind.

Let us discuss about the common desire of everybody.It is natural that every body wants to have their own house.It is a

reasonable desire.

But the desire can be attained if you have enough money on your own to buy the house.

If you are an executive working in a company what will you think.

You will ready to apply for some loan and buy that house.Alright you have decided and applied for a loan also and the

loan has also been sanctioned.

You will ask the engineer to construct the house with in the sanction of loan.

The Engineer on seeing the plan will say "Sir,you are constructing house once in your life time,why such a low budget house,we can increase slightly your plan sir,it won't cost much only a 10% increase in your normal budget"he will tempt you.

By that time you will also have some Himalayan courage,and think why we can't adjust that 10% increase,ok we can adjust that 10% increase by obtaining loan from our relatives,and you give consent to the engineer's suggestion.

The Engineer begin to build your house.The house is also going to be completed soon and only some finishing work is there.

You ask your engineer 'when can I take possession of the house', sir?

The engineer will politely tell you,Sir,there is a small problem,the problem is there is a sudden increase in the cost of materials,so I fear whether it is possible to complete the building what we have already planned.

But you are in the dream that the house should be constructed at any cost.So you don't bother about the resource to complete the house and prepared to arrange for the money required for completing the house.

What you will do.The next thing before you will be some bank balances available out of your savings and the jewels of your wife or your children.

So your savings,jewels will all go from you and fill the cashbox of another businessmen.

Your house become ready atlast.On seeing the house raised beautifully you forgot all the sources where the money came from to complete the house.

You will forget about the loan you obtained from your company.

You will forget about the loan you obtained from your relatives.

You will forget about the erosion of your savings and jewels.

All these will come to your remembrance only when the company commences their recovery for the loan you obtained.

All these will come to your remembrance only when your relatives need the money they paid.

All these will come to your remembrance when you don't have enough money in your savings account for your urgent requirement.

Then your mind will think about the the resource to fill up the deficit in the family budget,the loan to repay to your relatives and for your urgent requirement.

You will get easy resource to fill up this deficity,because you are working in a company,getting regular salary,higher salary.Companies are ready to give credit.

You are also ready to get credit from another company to fill up the deficit.

So you are ready to close the small debt pit,and begin to dig another debt pit,which is little more in size than the first pit.

The same deficit pressure mounts after some time.Again you are prepared to obtain loan from another company.

Now you dig another debt pit, which is more than the size of first and second debt pit.

Like this you will go on digging pit after closing the earlier pit to overcome your deficit.

Finally at one stage when you see the remaining pit,it will look like a deep pit, which you cannot fill it up from any source.

So the ultimate choice before you will be to dispose off the house and fill up the huge pit finally stands before you.

You have also made arrangements to dispose off the house.

One person came forward to buy the house.Even though the rate offered by him is not as expected by you,you have no other option except to get the money and fill it up the debt pit.

The house was finally sold off and you got the money.But while working out the amount you have to settle to your debtors,you need some more money.

However with the proceeds realized out of selling the house,you have settled most of the debt and still keep some portion of the debt.

So what happened to your dream of having house.You have lost all your savings,jewels,and other resources and still you have to settle more debts?

Where all of your money has gone?

It is no secret,most part of your debt were for the interest.

The interest made you to close one pit and dig another pit and finally you was let with a big pit with most part of the pit were for interest.

This is a common plight of most of the families especially in the middle class peoples.

The reason is due to their mental capability to enjoy all modern amenities without knowing their economic capability.

Enjoying the life is absolutely necessary but it should be from our own resources.We can enjoy the life but not on obtaining debt.

We have to increase our resources to enjoy the life.We should find out the opportunities to increase our resources and then think about enjoying the amenities.

krishnan.cauthor