Here we are going to discuss something about money traps,
which we should avoid in our 30s.
Get into middle of adulthood, it is really a major shift in
priorities and it is time to start planning our financial future.
You may have a better income, but, do not let your social obligations strip it away. There are a few money traps that you should avoid it all costs, here are those:
1. Buying a car out of your price range
If tt is all about bragging to
your nears that you make a good amount of money, but, in reality nobody cares
what car you own even, if you drive around especially to showcase it, even if
they notice it, maximum time their admiration lasts only about 2 weeks, not
more than that. But, the money if you have bought out of loan, it will take you
years to get it settled with all the interest gets accumulated.
So, the bottom line is don’t buy
fancy car just to impress the people whom you don’t know or don’t like. Buy
what you can afford to and stay away from loan.
A car fresh from the manufacturer loses its 30% of its value in the very 1st year, half of it by the end of 3 years, and it is still a good car. So, buying a 3 year old car, you just have to spend half the price of it.
2. Buy a home out of your price range, that’s too expensive for you
Owning a house is not an
investment, at the age of 30 if you want to own a house that too out of your
budget, you need to fund it from somewhere, either from bank loan or by any
other means. Funding does not come at free of cost most of the times, it always
got interest and gets accumulated over a period, then, it becomes a burden and
take away a chunk of our monthly income.
In this case, you have no money left for emergencies, investing. Look for a house in the outskirts; after a few years, it could be a busy area with all the facilities around and now, it could be cheaper.
3. Spending too much going out
Everybody needs some entertainment to keep them relaxed, but you really need to budget them. Do not need to have an extravagant lifestyle to identify with others.
4. Having an expensive significant other
Always people tend to advice others to go for that, this, and so on. All you need to do is keep things under your control and keep their advice under scrutiny whether to accept and implement or not? If it is going to make a hole in your pocket, then, just shrug off and move ahead.
If you are going to get marry or committed or dating someone expecting long term relationship, make this clear on spending habit, and don’t showcase what/how you want to be in the future.
5. Credit Card
Credit card debt is the worst debt since interest rate is too high. Better, avoid spending via credit cards unless you can religiously make on time payment and keep things under control.
6. Don’t fall in the online trading platform
Many people are not skillful at it, expecting some serendipity to help them; they get it in and slowly get absorbed, unable to come out of it. It eats their time, energy and money. Stay away from this to save your peace.
7. Not investing
It is a big mistake. You need to
have investment plan which yields profit over a period. Otherwise, the money
you saved but did not grow as years progressed; you still find it difficult or
far away from achieving financial freedom.
Before we jump into why we should use credit card? Let’s have a quick look at the differences between Debit Card and Credit Card.
Here we are going to see how you could make banks start paying you, instead of you paying them.
i. Most simply debit card is the one using the money which you already have in the bank, we here call by the name “bank money”. Credit card is the one using the money we don’t necessarily have it, here we call by the name “bill money” and the bill which we receive probably at the end of the month.
ii. Using debit card, we spend the past income, which we have made already. However, with the credit card, we can utilise future income which we are expected to make it.
If you are expected to make 1000$, you could purchase electronic gadget of worth 1000$ and pay by credit card. Credit card bill can be paid at the end of the month. You don’t necessarily have to have money before hand prior to make a purchase.
iv. Debit card: No fees associated to maintain and completely free.
v. Really easy to get into trouble with the credit card. Spend more than what we have and it can become a habit over a period of time and might impact in the long run. Easy to spend above our means. With the debit card, you should have money to spend.
vi. Lots of people don’t realise that credit card debt’s interest. If you have only 1000$s of credit card debt, you decided to pay only the minimum payment. It will take you years to pay complete money back.
See installment plan of 25$ per month, you think that Wow! you could afford it. In Reality, when zero $ in your account, it will make your financial situation even tighter than how it is supposed to be. Credit card debt has the highest interest rates in the world and somewhere around 20-25%.
Most common reasons why people don’t want to get credit card: i. Too much of hassle to go through the process and make research which credit card is the best in the market. ii. Don’t want to get into debt.
As far as myself is concerned, I pay credit card bill even before I receive the bill which helps me to improve the credit card score as well.
Why you have to go for debit card, instead of credit card? It is completely free to use, no monthly fees or maintenance fees. Additonally, not accumulating any debt.
Why credit card? Using credit card, there are many products sold at discounted price when pay by credit card. For students, even if a little amount of savings, it means a lot to them.
When problems surround you, don’t let it drown you; Adeptly swim to overcome it; Nobody is without problems in this beautiful world; There is no pond without riddles; All we experience is the tenancy, during then, keep ourselves however is within ourselves; Master it to stay merrier till life lasts…
Curry leaves are an important herb, which belongs to the
It is predominantly grown in India and Southeast Asian countries.
Used in food: These leaves are widely used in Asian cuisines for flavoring foods. It is used for seasoning or garnishing the dishes with curry leaves.
It is an important herb and popular for its anti-oxidant properties, which help to treat many health issues.
Nutrients info: Carbohydrates, Fiber, Calcium, Phosphorous, Irons, and vitamins like vitamin C, Vitamin A, Vitamin B, and Vitamin E.
Health benefits of curry leaves:
Detoxify our body: due to eating unhealthy and processed items, which could lead to weight gain and cause lot of accumulated toxins in the body.
Fat loss and Stomach ailments relief: If you drink curry leaves tea daily, that helps to remove unwanted fat and toxins from your body. This helps to reduce your weight effectively to solve stomach related problems. Add it to butter milk, drink it on an empty stomach for dealing with conditions such as diarrhea, constipation, and dysentery.
Supports bowel movements: Raw and tender curry leaves can be eaten on an empty stomach. It also supports bowel movements and stimulates digestive enzymes, lowers cholesterol.
Lessens blood cholesterol: Many research shows that curry leaves have properties that can help in lowering blood cholesterol levels. The rich antioxidants in it helps in preventing the oxidation of cholesterol that forms bad cholesterol. This in turn helps in increasing the amount of good cholesterol.
Protects your body from heart disease and atherosclerosis.
Good for diabetic patients: As per studies, Curry leaves have been found to effectively reduce blood glucose levels. They offer protection to insulin producing cells of the pancreas, and prevents damage caused by free radicals. It is probably because of minerals composition such as copper, iron, and zinc that curry leaves perform this function.
Helps eye: Curry leaves are rich in vitamin A, which is essential for the health of your eyes and vision. If you wear spectacles or are suffering from dryness and stress in your eyes, drink a cup of curry leaves every day.
Alleviate Stress: Essential oils of curry leaves can help in effectively reducing stress. This is probably because of the calming effect of the scent of curry leaves. Studies show that inhaling linalool can help in reducing stress, anxiety, and depression.
Boosts memory: Incorporating curry leaves in your diet can have beneficial effects on your memory. It can help in dealing with impaired memory disorders such as Alzhiemer’s.