Droplet Wealth

A friend of mine asked - How can someone buy things without debt? How is that even possible? Life is impossible without debt is what he said. This conversation kindled me to write this. Can everyone be debt free? Is it really possible? No, everyone cannot be. It's  like asking can everyone be play for Indian cricket team. Nope, only those who work hard and have the determination to play will end up playing (let keep aside the politics). Frankly speaking, it's highly impossible to be debt free in your life.  In some way or the other we will be forced towards debt at some point in time. There could be some unforseen events like health issues for which we might go for debt if not covered with adequeat health insuranse. Whereas in all other cases we are forced to take loans, and that force is not external. We look around the society and force ourselves to buy things what is not needed at all.  There is no harm in taking debt to buy a house where you will live in f...

Why minimum balance payment on credit card is the worst thing? Of late credit card penetration in India has increased multi-fold. A decade back 1 in 10 would have a credit card. Today 9 in 10 have 3 credit cards each. A ratio of 1:27. All these are mostly owned by salaried people, because they are the ones who pay off at any cost and are easy targets. I myself had six credit cards until 2017. And today I have two, closed the other 4. Stopped using it much.  A recent statistics reveals that there are approximately 50 million credit cards. Of which 25 million are active cards meaning at least one transactions happens every month. The whole purpose of getting a credit card is for emergency needs and/or cashback points. However we start using it for LUXURY WANTS! This is where our financials would go for a toss.  While applying for a credit card, we look out for offers, interest free credit period (as if we will pay it on time), cash withdrawal limit...

Most of us give a serious thought to physical fitness only when we cross the 60% of life milestone or when we are forced to be FIT post a medical diagnosis. For instance, I have seen many people who does not care about anything and live a junk lifestyle and one fine day when the unfortunate event occurs such as diagnosis of diabetics or any other, only then their blood, veins, heart and brain starts thinking about having a better and healthy lifestyle. The significance of physical fitness comes first as one grows older, as one cannot ignore it to lead a healthier life. So is the financial fitness. We pay attention only when there is a need, be it health or wealth. A typical Indian life cycle is all-simple. Learn, earn and retire. It all starts from the day you are born, your parents decides what you wanted to become. You get your graduation completed, have a job, get married, and then you want to buy a home as early as possible on EMI. In between, we never ever think whethe...