Mantra for Learning

On a hot summer afternoon! (my second meme)

A aztec's reaction on a summer afternoon after receiving his salary!

#Aztec #Aztecmeme  #Meme #Money #Chocolate #Salary

My first meme!

My first meme:

#Sheldon #Meme #BigBangTheory #RockPaperScissorLizardSpock

How do Loans make you feel?

I am writing this blog after after 10 years from my last publish. A lot has changed over the years. The rise of Start ups, the penetration of internet in our lives, how social media is changing our perception of reality, to name a few. When I first started blogging, I was a student at London School of Economics, and today I am a married man working in the financial sector and shouldering the responsibilities of my family.

While thinking of a subject for my this blog that I am writing after so long, I didn't have to go too far for a topic that connects with most people in their adulthood, especially an expats like myself. Its about Loans! 

A decade back, the word didn't mean much to me. But today, it has a whole different meaning than the definition I had read in my business studies book.  What is a Loan? Why do we feel the need to take one? Loans in simple terms by definition is 'a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.'

But why do we need it? There could be various reasons to that question but the main reason is to make payments to a financial commitment that we are falling short to, that we wish to honour.

There is a lot explained about Loans - in our business studies books, from the agent who came to source your loan application, and in the media. So I am not going to talk about that. I am interested in how loans make us feel! For those of us who have taken a loan in the past, think of the moment when you first heard the news of your Loan application getting approved from the Sales agent, felt a thrill, a sense of freedom, relaxation. The mind saying, 'Yes, now I’ll be able to take care of ABC or do XYZ!!' I presume it is a similar feeling to WINNING a lottery EXCEPT we have to REPAY our loans. We patiently wait for the loan to be credited in our accounts. Once it arrives, we go as planned making payments towards those commitments for which the loans was availed. Then, the account balance goes to '0'.  All of a sudden, you get the feeling from being a King to a Pauper. There is no more money left in your account but in the books of the bank you have a certain digits of loan amount against your name that you now owe to the bank. The loan feels like a wind of air that just blows through you, it went as it came. But, somewhere at the back of the mind, there is a feeling of relaxation that ‘Yes, I was able to take care of the 'ABC' and 'XYZ' and I will payback that EMI in the next 2,3,4 years. I have my monthly salary for that.’

But, the question is not about how you got that loan and how easy or difficult it is to avail finance today. It is about the feeling of having a loan to payback. While most people are ok with it, I am not! I am not okay thinking about how I am going to pay the EMI or Credit Card on due date when I plan my vacation, I am not ok thinking about the loan when I am seeking new opportunities and following my dreams. I am not okay thinking that 'x' percentage of my salary goes into paying off my loan for the next remaining 1-2 years. I am not okay with it. The loan that once gave a sense of freedom now feels like the shackles that stops you from flying. But all loans must be paid. It is a commitment. And it must be paid early.

I used to think that in Gulf, everybody has loans and everybody has an EMI to pay. But that’s not true. I have listened to people like Dave Ramsey giving advice on PersonnelFinance Management and read about people like CA Mahmood Bangara (Chairman, ICAI Dubai Chapter) who’ve said 'I have never borrowed money even for my house or my car.' These are inspiring words. This gives hope to people that It is possible to survive without loans/debt. But how?

UNDERSTAND BETWEEN NEED AND WANT (CUT YOUR WANTS!!)

That is the hard truth. The eternal truth. The other way around is to increase your Salary or income, but realistically, how easy is that in today's world. And as the income increases, so do the expenses in proportion. But the habits of understanding and exercising discrimination between 'Wants' and 'Needs' surely comes a long way to become truly Rich in Life. But why do we feel that it is difficult, because when we hear avoiding our desires, we think we need to cut everything. Well that’s not true! That is where we need to understand Prioritizing! Like an annual family vacation – that is a must, but instead of deciding a place you have wanted to go for very long, you can decide a nearby place that doesn't put a whole lot of burden on your pocket. And I have seen some people being bothered with what other people think of their destination, well, let me tell you they aren't paying for it... You are! So don’t bother. Or those subscription services you can live without, but your debts are paid. Each drop fills an ocean. Each dirham pays off a debt.

Let me assure you that making changes in one’s lifestyle can cause only momentary stress, like how we all feel when the doctors restricts our diet and asks us to exercise but the freedom of being Healthy and Loan-free - saving that extra buck but to invest in our kid's future will be worth the pain today.

I will let you know when I go Loan-Free. I will worth sharing and Celebrating! #StayLoanFree #LiveLifeKingSize #PrudentialLiving

Knowledge for Breakfast.

Courtesy: Art Of Living, Taiwan

Halaa Ho!!!

Hey Guyz,

I know visiting my page brings a bit of dissappointment these days.

I have been developing a lotta concepts and having ideas that i wish to post on my blog.

But since i ve been busy wid studies and exams, i shall do it after June.

Thanx for ur patience :-)

Lotsa Love,

Tanni

Srry for the delay.

Hey guyz, i knoe u all r quiet excited to hear more things coming fm me and i also know tht the blog has been quiet well advertised (or marketed ;-) ). But i ask apologies for not posting much content yet since the college has commenced and i dont find myself much time. But i assure u there r many stories, poems and experiances on the way..... don't forget the the Murari Bapu's Ram Katha. Well, i m quiet enthusiastic to share my experiance & excerpts fm the katha. So, HANG ON! C u soon :-)