I should have said ‘How to stay away from NEW financial products? Sorry galti se mistake ho gaya…
Let us see what are the products that are offered to us everyday…and what could be the response:
1. Sir, we have a new credit card, we would like to offer you one, free, and with a limit of Rs. 75,000 (any figure up to Rs. 500,000)
What could you say?
a. I already have one
b. You are offering me a Gold card? you got to be joking. I already have a Platinum card with a higher limit.
c. My religion does not allow me the usage of a credit card.
d. I heard it is contagious, so I do not want….
2. Sir we have a Unit Linked Plan….and you can save tax.
a. My 80C limit is already full
b. I have ulips (this is dangerous, the industry has data to prove that a ulip buyer buys again!!)
c. I just bought a house and am not looking to invest.
d. I am 64 years of age and do not want to buy a pension.
e. I have been diagnosed with Hypertension and am not eligible for life insurance or medical insurance.
3. Sir you have a home loan of Rs. 45 lakhs with Hdfc why do you not transfer it to India bulls?
4. Sir why do you not surrender your old LIC policies and buy new ones?
5. Sir please open a brokerage account with us…..
Seriously there are no shortage of offers from the BFSI. Coming to think of it the other industries also keep pushing you to buy things that you do not need. And for buying that offering money that you do not have. So that you can repay that from a salary. Salary earned by doing a job that you do not like.
And who will tell you that if you keep buying things with money, soon you will have things but no money.
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