Recently, as most people have noticed, the Indian economy has experienced a boom, with a lot of good and bad effects. To sustain this growth, a spending spree seems inevitable. Let me tell you how I actually experienced it.
There is this travel company called Make My Trip, a pretty well known company in India. I had used this to book some air tickets previously. But, suddenly, a month ago they suddenly offered me a package--for which I had to a pay a service charge of about 7000, and in return they gave me several discount vouchers. They did explain all the terms and conditions--or as much of them as they thought would not put me off in accepting the offer. I was a bit sceptical and so were some of the people I consulted with. But it seemed an interesting thing to experiment with. So I have accepted the offer. The entire package gives you a lot of discounts, but it also necessiates that you spend a lot more than you planned to! I knew all this, but the real challenge to me is how to get the most by spending the least. Lets see how it goes--I have about an year.
But this is indeed what goes on all the time--everywhere---the entire credit system based on the Credit and Debit cards promises you more benefits the more you use them. The more you spend. The more debt you incur.
No longer a scary thought; but a reality to deal with!
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