Life is not easy for everyone, there is a lot of struggle in every moment of your life. There are always problems, but now most of the population is in problems with money. Money seems to be the center of everything these days. For anything you do in your day-to-day life or buying anything to need money right? Some offers do have money to buy things at an instant and some do pay for the items they do buy for years.

Life is different for everyone, not all of us can help her luxurious life neither all can be poor. If you are debt-free then life seems to be simple you don't have to think about the EMI things. If you do have a debt then life seems to be a bit harsh for you. You have to think a lot before investing your money.

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Middle-class people do buy a lot of things that they can't even afford. Now we do see there are so many options available to buy costly items on monthly EMI if course we have to Priya good about interest on that. But still, many of us Dubai things that we don't even need on EMI and surround ourselves with EMI and debts. I have seen this a lot when someone did get a job did you buy a smartphone good most of the time everyone wants to buy an iPhone, not sure why but many do want to right are you one of them?

There is a famous quote if you can't buy the thing a second time then don't buy it. Have seen so many people around me who do buy cars and other items on loan and didn't repair the loan on time and after a few months the insurance company to their items back. I do believe if you want to buy something then start saving money and buy it at once. Maybe the EMI option looks better but if you will calculate then you have to pay some extra money over that. If you still do think then go and buy more why only one? I do have Honestly I haven't bought anything from it yet but a few of my office colleagues about if you items on that on EMI and they are paying 14% interest on the product they have bought. Yes, there are few cards that do offer a zero-cost EMI over purchase but unfortunately, that card didn't support everywhere. You can say I am lucky in that because whenever I do have something on my then I didn't get a zero cost in my option on the card 😉.

Sometimes we to need money for emergency purpose and now taking loan is very easy. Because banks do earn a decent amount by giving loans. Now there are so many schemes available by which you can take loans in few hours ,if you do have a good CIBIL score then you can get loan instantly without doing any paper work there also many third party by which you can take loan instantly. But make sure you do check all the terms and conditions and interested before we apply for loans. The interested hard to high as compared to the bank interest rates. I did he calls from defeat banks for loan.

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At some point, we do need a loan and if you do manage to repair the installments on time then things do go if we do miss the installments then things can go a bit tough for us. If you do then try to finish it as fast as you can. The longer you will run the loan the more money you have to pay. If you will calculate at the end then you will realize that you have paid more interest than the principal amount you took from the bank or any other services. So the best thing you can do is to reduce the principal amount as fast as you can. Yes of course not all do have money to repair the loan fast right, but at least a small amount by the end of the month is going to help a lot.

If you do have an ongoing loan and you do pay monthly installments for that there is one thing you can do. Try to add a fixed amount after every two or three months to reduce the principal amount. If you did manage to reduce the principal amount then you can reduce the interest if you are able to reduce the interest rates then you will increase your principal amount faster. And overall you will finish the loan before the time period. Of course, you do the closing fee if you did manage to finish the loan before the time period. It's okay, that is a good deal in my opinion.

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There are a few ways by which you can repay your loan fast:

• Let's say you have a loan of XX amount for X years on 15% interest. You can take another loan with less interest and repair the first loan which can be helpful.

• If this is not possible then try to take small loan from your known friend or family members because you don't have to pay any interest on that money right? So in a way, it's like an interest-free loan and you don't take the time that much even if you will pay you have to pay only the amount that you have taken from them you don't have to pay anything extra.

• Try to generate another source of income to repair the loan fast, this can be very helpful and this is a more efficient way to pay the loans earlier and easily.

• Try to open a sip and add a lump sum amount of money by the end of the year to your loan account that is going to help a lot.

So these are refuges to repair your loan fast do you have any ideas all suggestions feel free to comment.

see you in the next post, till then keep learning and keep exploring...

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few posts from my past that might be helpful for you.