Comments on: Getting out of debt http://www.subramoney.com/2010/02/getting-out-of-debt/ Personal Finance Sat, 11 Feb 2012 11:58:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Neeraj http://www.subramoney.com/2010/02/getting-out-of-debt/comment-page-1/#comment-2767 Neeraj Mon, 08 Feb 2010 07:15:42 +0000 http://www.subramoney.com/?p=3086#comment-2767 Hi Mr. Subramanyam, Could also shed some light on how one should plan to get rid of Home loans systematically while - gaining from Income tax exceptions, - Keeping inflation in mind i.e. same EMI amount won't be that costly after 10 yrs. - How much to pre-pay - How to best use facilities like SBI MaxGain Home loan account (No interest on amount kept in this account) Thanks a lot for all the previous articles. Neeraj Hi Mr. Subramanyam,

Could also shed some light on how one should plan to get rid of Home loans systematically while
- gaining from Income tax exceptions,
- Keeping inflation in mind i.e. same EMI amount won’t be that costly after 10 yrs.
- How much to pre-pay
- How to best use facilities like SBI MaxGain Home loan account (No interest on amount kept in this account)

Thanks a lot for all the previous articles.
Neeraj

]]> By: Aniruddha http://www.subramoney.com/2010/02/getting-out-of-debt/comment-page-1/#comment-2758 Aniruddha Sun, 07 Feb 2010 16:22:59 +0000 http://www.subramoney.com/?p=3086#comment-2758 Debt is a financing option, which if one may say so is commonly mis-understood by both users and non-users alike. To explain further, first focus on the word option - did the borrower use debt as a means over an alternate option or was it the only option? when using a credit card, is the use an option (with the presence of other alternatives) or a pure leverage to increase buying power? Can debt be used to accelerate wealth creation without increasing risks? Like atomic energy it all depends on the end-use which is needless to mention dependent on the level of understanding of the user or his advisor. Debt is a financing option, which if one may say so is commonly mis-understood by both users and non-users alike. To explain further, first focus on the word option – did the borrower use debt as a means over an alternate option or was it the only option? when using a credit card, is the use an option (with the presence of other alternatives) or a pure leverage to increase buying power? Can debt be used to accelerate wealth creation without increasing risks? Like atomic energy it all depends on the end-use which is needless to mention dependent on the level of understanding of the user or his advisor.

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