NEWS & ADVICE : HOME LOANS
Financial Review: A must for every individual
By Joseph Samson
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As an individual you should review and update your financial plan regularly, according to new realities. You should check if your plan is in line with your future short term, mid-term and long term goals. The asset allocation should be reviewed since most of the allocations are done in a random manner without any goal in mind. Some people would have some money parked in provident fund, fixed deposit, mutual funds and so on. They believe these investments would be enough to realise various life goals. However, that might not be the case. You need to know the amounts to be parked in various investment avenues so that you could plan for things like your higher education, marriage, family and retirement.

Thus you should carry out your financial evaluation. Knowing where you are is a prerequisite for developing a financial plan.

Comprehend your financial situation

"If you are spending 30% of your take home salary to pay off some debt (excluding home loans) you have a problem," says Kartik Jhaveri, director Transcend India and a certified financial Planner (CFP).

You should assess the need of a loan before applying for it. You take a loan either to own an asset or to fulfil your consumption needs. A loan for buying an asset comes at a lower cost than a loan for consumption needs. This is because the former is backed by an asset, it is a secured loan. In case of a default in repayment, the lender can claim the asset. An unsecured loan comes at a greater cost since the lender cannot claim anything in case of a default.

In case of a home loan, as you pay your Equated monthly instalments (EMIs), you start earning the asset. At a future date, when you have paid all your EMIs, you will own this asset and earn a good return over your cost price.


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(Comments Posted : 11) Post Your Comments
1. Hello, Good day to everybody reading this,

TESTIMONY OF HOW I GOT MY LOAN FROM A LEGIT AND TRUSTED LOAN COMPANY

My name is Elizabeth Forbes from United States. I want to thank Mr John Michaels who helped me to get a loan. For the past three months, I have been searching for a loan to settle my debts, everyone I met scammed and took my money until I finally met Mr John. He was able to give me a loan of $10,000 US Dollars. He can also help you. He has also helped some other colleagues of mine. If you need any financial help, kindly contact his company through email: aceloanservices@hotmail.com I believe he can help you. Contact him to get help just as he helped me. He doesn\'t know that I am doing this by spreading his goodwill towards me but I feel I should share this with you all to free yourself from scammers, please beware of impersonators and contact the right loan company. below are his words of encouragement to those seeking for a legit and honest private loan lender.


\"Do you need a loan to pay off credits and debts? Do you need finance to set up your own business? Do you need loans to carry out large projects? Do you need college loan? Do you need funding for other various purpose? email: aceloanservices@hotmail.com\"

Thank you for reading and goodluck.
Elizabeth Forbes (Posted: Jul 19, 2015)
2. Hello, Good day to everybody reading this,

TESTIMONY OF HOW I GOT MY LOAN FROM A LEGIT AND TRUSTED LOAN COMPANY

My name is Elizabeth Forbes from United States. I want to thank Mr John Michaels who helped me to get a loan. For the past three months, I have been searching for a loan to settle my debts, everyone I met scammed and took my money until I finally met Mr John. He was able to give me a loan of $10,000 US Dollars. He can also help you. He has also helped some other colleagues of mine. If you need any financial help, kindly contact his company through email: aceloanservices@hotmail.com I believe he can help you. Contact him to get help just as he helped me. He doesn't know that I am doing this by spreading his goodwill towards me but I feel I should share this with you all to free yourself from scammers, please beware of impersonators and contact the right loan company. below are his words of encouragement to those seeking for a legit and honest private loan lender.


"Do you need a loan to pay off credits and debts? Do you need finance to set up your own business? Do you need loans to carry out large projects? Do you need college loan? Do you need funding for other various purpose? email: aceloanservices@hotmail.com"

Thank you for reading and goodluck.
Elizabeth Forbes (Posted: Jul 19, 2015)
3. Hello, Good day to everybody reading this,

TESTIMONY OF HOW I GOT MY LOAN FROM A LEGIT AND TRUSTED LOAN COMPANY

My name is Elizabeth Forbes from United States. I want to thank Mr John Michaels who helped me to get a loan. For the past three months, I have been searching for a loan to settle my debts, everyone I met scammed and took my money until I finally met Mr John. He was able to give me a loan of $10,000 US Dollars. He can also help you. He has also helped some other colleagues of mine. If you need any financial help, kindly contact his company through email: aceloanservices@hotmail.com I believe he can help you. Contact him to get help just as he helped me. He doesn't know that I am doing this by spreading his goodwill towards me but I feel I should share this with you all to free yourself from scammers, please beware of impersonators and contact the right loan company. below are his words of encouragement to those seeking for a legit and honest private loan lender.


"Do you need a loan to pay off credits and debts? Do you need finance to set up your own business? Do you need loans to carry out large projects? Do you need college loan? Do you need funding for other various purpose? email: aceloanservices@hotmail.com"

Thank you for reading and goodluck.
Elizabeth Forbes (Posted: Jul 19, 2015)
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