Knowing60

How do I navigate?
The very question tells you that there is a path… 

A pathless path is always available in front of you and once you start walking the pathless path then the path will be revealed to you. You need just an awareness to know how the path is clouded. It is you going to lay out the path out of your experience and create a path for others to solve similar problems.

I was told by a wise man how to come out of debts. If you want to come out of debts then you should not concentrate on more income because more income breeds more expenses. The only way to concentrate on your expenses and try to live within your income. We know if you borrow a home loan for 20 years you end up paying double the borrowed amount. Eg If you borrow 20 lacs and you end up paying 40 lacs. The good behaviour of common man is to see through clouds Eg Suppose if you have surplus in any month immediately you are keeping it for next month EMI. Then, what happens is the surplus on that month goes to the subsequent month EMI and mostly towards interest. Suppose you had 50k as surplus due to bonus/incentives/additional business. If you pay the same to Home Loan as part payment then you immediately reduce 1 lac from the loan agreement amount. It is not the principal you paid as part payment but also the future interest. Hence Even if you contribute 20k then it will reduce 40k. 

Our biggest problem is we never tell others about our loan agreement outstanding, that is the total of future EMI outstanding but we only tell others, the principal outstanding, that’s where we lost our path and became embedded with debts. 

If you want to navigate, you already have a pathless path and you just need courage to use to walk through it.