Credit cards - a boon or bane?
Perhaps I and my husband are a few of those who do not possess any credit card!
We knew the advantage of not having to carry money on us to distant places so we enrolled to get ourselves a couple of debit cards which would mean we can spend only what we have in our accounts, nothing more than that!!
We pay a lot of interest on temporary and long term loans as it is. Banks have to charge us for lending money as thats their basic business.
Yet when we sit down to do simple calculations on the loan taken, the interests paid so far and the balance yet to be repaid to the bank, our heads would go in a tizzy without resorting to any sedatives.
First banks encourage everyone to borrow money for purchase of just about anything these days. The repayment plan on equal monthly instalments (EMI) are very low and very attractive. They tempt us to borrow and get us hooked for many donkey years spent on repaying that sum. The first years' repayments have high interest recovery portions and very less towards capital repayment in any loan plan. When the interest and capital becomes fifty-fifty more than half the laon period is already over. By this time the bank will remind you that there is yet another plan under which you are eligible for some other loan! This continues and you have to work to repay your loans and you have to refinance often if you need extra money.
You are always in debts and the banks ensure this very subtly as they explore opportunities to trap more and more people.
Take the housing loan for instance. In India, property rates were well within means to those who could save some money from their salaries, borrow a bit from relatives and friends to buy a home. All this until the concept of home loans became popular in India. Many could buy homes no doubt. The seed money was kept at say 15% or 20% of the total value of a property with the remaining coming in from the bank after they checked your credit worthiness. This 85% to 80% component started to balloon up due to steady rise in property values from time to time. This ensured that even a high value person would be in debts for years together if he were to go in for house purchase.
But the rents going up would make all of us think of going in for a loan to buy a house and paying our EMIs instead of house rents which will work out to be the same in any case. The lure of owning a house for the payment of 'rent' in the form of EMI to the bank was what fuelled all the abnormal rise in property values even in far off places from a busy city or metro.
With good infra structure connecting places, there should be no problem of commuting from this place to that. But this also does not seem to work for many families who have one child in some school and one in college elsewhere, with dad going to office in quite another direction. Many are the choices and deciding becomes difficult with many in the family fanning out daily on their jobs. Otherwise suburbs are the answer to cheap and affordable flats.
In any case credit card or loans are not the only debts in our lives!
We are indebted to our parents for having us born to them.
We are indebted to our teachers for teaching us lessons - both acedemic and otherwise.
We are indebted to our parents for choosing a good spouse for us
or
we are indebted to our spouses for accepting us as their life partner
We are indebted to our banks who provide loans for the many things which may not have been possible to enjoy in our lives with our limited means but unlimited dreams :D
We are indebted to God for the children he gives us.
We are indebted to all those who help us in any way in doing this chore or that.
We are indebted to the medical people who take care of us while we are sick and in hospital.
We are indebted to those relatives who take care of us when we are recovering from any ailment.
So much indebtedness going around so how does a small bank loan matter. Life means to enjoy the today, the now and if enjoying means having to pay, we can always pay later and pay in easy instalments too.
Cheers!
Mahalakshmi
Saturday, August 14, 2010
Wednesday, August 11, 2010
The Red Saree
Since yesterday was glued to the latest 'Society' a monthly magazine from the house of Magnamags.
All their magazines like Stardust, Society Interiors, Savvy and Society is lapped up by me as soon as it hits the stand each month without fail.
This issue had a range of gems.
On the cover was the gentle and dignified Sonia Gandhiji.
It prompted me to write to the editor my reaction after reading the cover story and here is what I wrote:
*****
Dear Editor, 11th Aug.,2010.
Read Society with Mrs. Sonia Gandhi on the cover.
The interview with author Javier Moro and excerpts from 'The Red Sari' did make for an interesting read.
Each family could have a black sheep but how does Soniaji who was not even born at that time be connected with it.
The Mainos silence on this is understandable.
If authors don't sensationalize something from someone's life, they cant hope to sell the book so easily.
Besides, to refer to her as coming from a village to the city could have been put in a better way. Perhaps that could make her understand the sufferings of the people in our villages better.
It is an occupational hazard public figures have to face.
She has conducted herself with so much dignity in her public and personal life ever since she came in as the Gandhi bahu.
It is admirable that she adapted so well to our way of life and preferred to stay back for the sake of her children bringing the mother in her.
She has conducted herself with a rare courage so far.
Three cheers to this brave woman who has seen so much in such a short period in her life.
Thank you so much for the article on the emperor of music - Khayyam Saab.
His music has always managed to touch many of us at the soul level.
The choice of his tunes, the voices he got to sing his songs in, the beautiful lyrics are all showcases of his immense talent.
Jagjit Kaur's unforgettable songs like 'Tum apna ranjho gham' and the gem from the film Bazar, 'Dekh lo' can be heard any number of times.
Lataji's songs like 'Baharon mera jivan bhi' from Akhri Khat is a kohinoor among his melodious compositions.
Ashaji took away the entire bakery with her rendition of all of Umrao Jaan's songs made immortal by the one and only Rekha.
Loved this issue for the variety you gave us. Keep it up.
Mahalakshmi.
*****
They had another wonderful article on 'Attitude' by the book on management entitled 'Attitude - Your Greatest Asset' by John C Maxwell. It made so much sense to read those few paras about attitude. I had also written something on this topic earlier but his is put so very nicely.
Such articles will certainly change the way we look at ourselves and life itself.
Cheers!
Mahalakshmi
All their magazines like Stardust, Society Interiors, Savvy and Society is lapped up by me as soon as it hits the stand each month without fail.
This issue had a range of gems.
On the cover was the gentle and dignified Sonia Gandhiji.
It prompted me to write to the editor my reaction after reading the cover story and here is what I wrote:
*****
Dear Editor, 11th Aug.,2010.
Read Society with Mrs. Sonia Gandhi on the cover.
The interview with author Javier Moro and excerpts from 'The Red Sari' did make for an interesting read.
Each family could have a black sheep but how does Soniaji who was not even born at that time be connected with it.
The Mainos silence on this is understandable.
If authors don't sensationalize something from someone's life, they cant hope to sell the book so easily.
Besides, to refer to her as coming from a village to the city could have been put in a better way. Perhaps that could make her understand the sufferings of the people in our villages better.
It is an occupational hazard public figures have to face.
She has conducted herself with so much dignity in her public and personal life ever since she came in as the Gandhi bahu.
It is admirable that she adapted so well to our way of life and preferred to stay back for the sake of her children bringing the mother in her.
She has conducted herself with a rare courage so far.
Three cheers to this brave woman who has seen so much in such a short period in her life.
Thank you so much for the article on the emperor of music - Khayyam Saab.
His music has always managed to touch many of us at the soul level.
The choice of his tunes, the voices he got to sing his songs in, the beautiful lyrics are all showcases of his immense talent.
Jagjit Kaur's unforgettable songs like 'Tum apna ranjho gham' and the gem from the film Bazar, 'Dekh lo' can be heard any number of times.
Lataji's songs like 'Baharon mera jivan bhi' from Akhri Khat is a kohinoor among his melodious compositions.
Ashaji took away the entire bakery with her rendition of all of Umrao Jaan's songs made immortal by the one and only Rekha.
Loved this issue for the variety you gave us. Keep it up.
Mahalakshmi.
*****
They had another wonderful article on 'Attitude' by the book on management entitled 'Attitude - Your Greatest Asset' by John C Maxwell. It made so much sense to read those few paras about attitude. I had also written something on this topic earlier but his is put so very nicely.
Such articles will certainly change the way we look at ourselves and life itself.
Cheers!
Mahalakshmi
Monday, August 9, 2010
The Month of Aadi in Tamil Nadu
From the 17th July to the 16th of August, 2010 the month of Aadi is running.
During this month the goddess mother is invoked to protect mankind from diseases and ill-health.
There are no auspicious functions held during this month as the month is ear-marked for prayers.
Sun, the giver of light has changed his direction from north to south. The cold will set in by and by in the northern hemisphere and the nights will grow longer.
At times these are depicted beautifully through pictures. I remember a picture depicting the Sun God riding his chariot driven by 7 horses. These horses may be taking a south bound journey from mid year, year after year. This is very much season based. This phenomenon occurs each and every year.
This south bound journey of the sun is called the dakshinayana.
The north bound journey of the sun is called the uttarayana which starts around mid-January of each year.
It is also the time when Lord Brahma the creator goes to sleep. His sleep lasts for approximately 6 months from mid-July to mid-Janaury each year. That is another set of puranic stories connected with him.
A change in season or weather always brings in its own ailments. So also it is true for when the sun is changing course from the north to the south direction.
In southern India, especially Tamil Nadu, no auspicious events are planned during this month like marriages, house warmings, relocating or moving into new house locations, etc.
After 16th August auspicious activities start with a bang by celebrating the Vinayak Chaturthi whick marks the beginning of all festivals coming up one by one. The obstacle remover, Vinayak, sets the pace for the festivals to follow. The major ones are Dasera and Deepavali which come during October, November of each year.
Here in the streets of Chennai we see goddesses' bronze idols taken around in a ceremonial procession from temples all over, especially past midnight. Yesterday was one such day. We were woken up by loud music, drum beats and bursting of crackers on the road for a good one hour in front of our flats around 2am!! After such a treat to the ears our body refused to go back to sleep again. So we were impatiently waiting for the crack of dawn.
May we all keep good health and avoid falling sick. May we pray that all of us are healthy, wealthy and peaceful.
Cheers!
Mahalakshmi
During this month the goddess mother is invoked to protect mankind from diseases and ill-health.
There are no auspicious functions held during this month as the month is ear-marked for prayers.
Sun, the giver of light has changed his direction from north to south. The cold will set in by and by in the northern hemisphere and the nights will grow longer.
At times these are depicted beautifully through pictures. I remember a picture depicting the Sun God riding his chariot driven by 7 horses. These horses may be taking a south bound journey from mid year, year after year. This is very much season based. This phenomenon occurs each and every year.
This south bound journey of the sun is called the dakshinayana.
The north bound journey of the sun is called the uttarayana which starts around mid-January of each year.
It is also the time when Lord Brahma the creator goes to sleep. His sleep lasts for approximately 6 months from mid-July to mid-Janaury each year. That is another set of puranic stories connected with him.
A change in season or weather always brings in its own ailments. So also it is true for when the sun is changing course from the north to the south direction.
In southern India, especially Tamil Nadu, no auspicious events are planned during this month like marriages, house warmings, relocating or moving into new house locations, etc.
After 16th August auspicious activities start with a bang by celebrating the Vinayak Chaturthi whick marks the beginning of all festivals coming up one by one. The obstacle remover, Vinayak, sets the pace for the festivals to follow. The major ones are Dasera and Deepavali which come during October, November of each year.
Here in the streets of Chennai we see goddesses' bronze idols taken around in a ceremonial procession from temples all over, especially past midnight. Yesterday was one such day. We were woken up by loud music, drum beats and bursting of crackers on the road for a good one hour in front of our flats around 2am!! After such a treat to the ears our body refused to go back to sleep again. So we were impatiently waiting for the crack of dawn.
May we all keep good health and avoid falling sick. May we pray that all of us are healthy, wealthy and peaceful.
Cheers!
Mahalakshmi
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