How to payment of EMI ON REGULAR BASIS
EMI (Equated monthly installments) is mostly use financial product for buying various goods and services .People often use EMI for buying.
For the purpose of maintain regular payment of EMI first of all you must maintain right size of EMI .Considering your earning you can select and use EMI for various purpose.
EMI involves two parts interest and principal.so you should consider how much interest portion of your income goes to interest before buying any product or service using EMI.
EMI helps you to finance good and services but it also includes regular interest cost to your budget.Buying too many goods and services using EMI create lot of interest cost.
Saving for EMI is good habit for develop for regular payment and reducing chances of default .Good balance of EMI also helpful to buy goods and services without waiting for your income or salary.Many time it happens that EMI cost is increase your income than in such situation you should look your expenses .Controlling expenses reduce your EMI.
People often buy goods and services using EMI as it is easy available tool but not prepared EMI BUDGET.
YOU CAN PAY EMI REGULARLY
1)SAVE MONEY FOR EMI REGULARY
2) CREATE 3 MONTH OR 6 MONTH SAVING FOR EMI PAYMENT IN ADVANCE
3) EMI should not be more than earning