Decision on Purchase

Last month I have bought a DSLR camera. I was supposed to get a performance bonus. Instead of saving the amount for uncertain future I was tempted how to spend the money. Then I was explore the option of buying Nikon D3100 costs around Rs 21000 from Amazon. Amazon was giving an offer that time which was inncreased my interest to buy the camera. Since, the camera came to my hand I have not used that like DSLR. It is serving the purpose of point and shoot camera. The same purpose can be served with Rs10000. That means I have lost Rs 11000. When I analysed my decision I found I have made a mistake buying the costly camera. So when buying someconsumrr electronic goods such as camera, mobile, LED tvs etc. please don't go by the flow, analyse the requirement and then go for buying. Ifyou don't do that you are actually losing the savings for your uncertain future.

EMI Vs SIP

Now a days young generation of our country is more interested in EMI i.e. Equated Monthly Installment over SIP (Systematic Investment Plan) or regular savings. This tendency has been increased due to E commerce portal. Credit card has added fuel to this tendency. In a office floor with a capacity of 500 persons you can easily see at least 50 new mobiles or some other electronic items are coming from Flipkart, amazon etc. They are more interested to buy it on offer even if they don't require it. 

In addition to the above, home loan, consumer durable loans and personal loans are adding burdens to the youth for their status war with their peers.

One should spend as per their requirement. Don' t go by the offer and try saving at least ten percent of your net income in the regular savings scheme like equity SIP or recurring deposit.

Home Loan

I have a very bitter experience with the HDFC home loan. My brother has taken a home loan worth Rs 18 lakhs. The loan was applied and processed in Singapore. It was sanctioned very soon because of NRI thing. But when the loan disburesement processing is started in kolkata (Saltlake Branch) it becomes a nightmare for me. The persons in the Saltlake branch are absolutely useless. They dont receive any phone call. Sometimes i have called 20-25 times but they never respond. They dont reply any mail. They can talk with the persons who are physically present at their office at a particular time. They dont commit anything. They dont acknowledge the receive copies. Their behaviour is also not so good. So I want to suggest everyone that please dont go for a home loan to HDFC.

Please also post your experinces about home loans.