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 ┬ácontagious, 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.

Say NO.


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  1. these days it is more like how to stay away from new personal finance bloggers, stock investment advisers

    sir, i am starting a new blog on personal finance, sir i am starting a new business as personal financial planner

  2. Some more…

    1.e. Credit Card: I’m still a student and don’t have income or PAN card…

    1.f. I’m going abroad soon, and won’t be back for atleast a few years.

    3.a. Home Loan Transfer: My Brother works at HDFC, how can I transfer? (Won’t help in case your brother is in Indiabulls though!)

    3.b. I’ve setup auto-transfer to HDFC for next 20 years, I won’t be able to stop transfer as bank disallows it.

    3.c. HDFC has warned me if I don’t pay EMI, they will reposses my house, transfer or no transfer

    4.a. Old LIC policies require low maintenance and low premium. Naye policy mein kharcha badh jayega.

    4.b. I’ve heard that once you surrender old policy, you can’t buy new policy. (Act scared and say you wont take the risk)

    4.c. If the agent says you don’t have to surrender old policy to get new one, turn around and say, I’ve heard that once you buy new policy, you can’t surrender old policy!!! (again, act like you don’t want to take the risk)

    5.a. New Brokerage a/c: I don’t want to split my portfolio into 2 accounts as it is considered inauspicious.

    5.b. I have to consult my astrologer on shubh muhurat to open the new Brokerage a/c. Before my current one, I opened without consulting the astrologer and suffered massive losses.

  3. @moronbuffett +1

    how do we stop that guy from preaching? everytime he spams me and am amused to read his copy-paste articles..

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