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What is a debt Trap? Mistakes to avoid while taking debt | Personal Finance for Beginners Ep - 3

Welcome to Episode 3 of Personal Finance for Beginners! In this video, we're diving into the topic of loans and how reckless borrowing can ruin a person's financial life. Karthik Rangappa breaks it down – how to handle your debts, deal with credit cards, and borrow wisely (if at all you are forced to borrow.) Get practical tips on steering clear of debt traps and understanding your borrowing limits. Towards the end of the video, Karthik shares a simple technique that anyone can use to figure out what is the maximum amount one can borrow and still get a good night's sleep. Time Stamps 00:00 Introduction 01:00 How to use debt responsibly? 02:30 How to overcome debt trap? 02:40 Ask for Help! and repay loan/debts 03:50 Is it bad to have a credit card or borrow money? 04:46 How to manage credit card debt wisely? 05:15 How can a credit card be used as an emergency fund? 06:16 How to estimate your loan taking capacity? 07:00 Conclusion Links to Refer Learn What is an Emergency Fund? How to build it? Personal Finance for Beginners Ep - 1    • What is an Emergency Fund? | How to b...   Learn Common mistakes while buying life and health insurance | Personal Finance for Beginners Ep -2    • Common mistakes while buying Life & H...   Learn more about investing and finance here: https://zerodha.com/varsity/modules/ Other Important Links You can put your stock market knowledge to the test by taking the Varsity Certification test here: https://zerodha.com/varsity/certified/ Open Zerodha Account - https://zerodha.com/open-account?c=ZM... Social Media Twitter -   / zerodhavarsity   Instagram - https://www.instagram.com/zerodhavars... #analysis #investing #finance #stockmarket #financialeducation #varsity #zerodha #personalfinance #debt #loan #borrowing #creditcards #debttrap Featured Playlist Beginners Guide to Personal Finance    • Mutual Funds Investing: A Step-by-Ste...