4) Personal loan.

As you climb the success ladder in your profession, you might even want your dream of buying a home or a car to be fulfilled.

There are varied personal loan schemes that you can take that includes travel loans, home loan, consumer product loan, to name a few.

Quick Tip:

Personal loan is most often considered as a luxury, than a necessity. So look for schemes that offer zero interest rates to low processing charges, as most of the schemes are with high processing rate.

5) Car loan

When you are taking a car loan for the first time, always remember that the value of the car will depreciate every year. However, the fuel and maintenance charge remains high; you should always calculate your expenses, your loan EMIs before taking a car loan.

Quick Tip:

To be on a safer side, pay atleast 50 percent of the car loan from your pocket. It will help reduce your EMI charges.

Also Read:

Spend On Your Children and Get Tax Benefits

Family budget: Manage your money to lead a blissful life!