Chit funds-investment or Potential debt trap?
Posted on: 10/Apr/2018 4:55:23 PM
A common man usually makes many investments; some reap profits while others are just ‘a prediction that went wrong’. Most people are misguided when it comes to investing in chit funds. They think it’s a form of investment. True but what they fail to realise is that chit funds are potential debt traps too!
Most of us are blinded by the good side of chit funds such as easy access to money, possibility of earning higher returns, great platform to practise financial discipline…but what we overlook is that the probability of it becoming a debt is at least equal if not more. I’m not saying chit funds are a bad investment; all I’m saying is it’s always better to become aware of both the good and the bad side before executing an investment decision. This ensures that you get maximum returns out of the investment made. If you are someone looking to make an informed decision or someone who’s just intrigued by what I wrote, then read in detail about chit funds in my blog by hitting the below link.
