Prajna Capital - An Investment Guide

Financial planners and bankers point out that poor credit management is becoming a common occurrence. Currently, gross domestic savings is at 30 percent of the gross domestic product. But an increasing number of families are going in for easy credit without looking at the repercussions. Why debt counselling? Sloppy credit assessment, the availability of easy credit, and a low level of public awareness about the financial implications of credit options are making indebtedness a serious concern. Throw in the increasing preoccupation with an affluent lifestyle, and the scenario gets bleaker. Many also borrow to speculate in stocks, realty and even to outright gamble. People are used to a 20-25 percent increase in annual income. But what happens if there's a slowdown? Over commitments can get you in trouble. The entire family might pay the price, through domestic disharmony. This is why debt counselling - a common service in the developed world - has become an urgent requirement ...