Personal finance - Part 2 Debt - Deepstash

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[2/4] Personal Finance is a very crucial concept that is often ignored. This is an attempt to spread awareness related to personal finance.

Personal finance - Part 2 Debt

iit-techambit.in

Debt: Loans

  • Personal Capital = True Assets - True Liabilities
  • Loans? depends on "Good" or "Bad" loans.
  • Good loans - Education, Business, Home, etc.
  • Bad loans - Credit cards, car loans, etc.
  • Your credit score is an important indicator to lenders of your ab...

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Debt: Repayment

Things to keep in mind wrt repaying your debt:

  • Make the down payment as large as possible. This will reduce the interest on the cost of purchase,
  • Debt repayment per year < 20% of annual Post-tax income,
  • Monthly installments < 10% of Monthly i-hand salary,
  • Use "...

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