Middle Class Woes

A middle class family has always witnessed the problem of debt. Whether he is engaged in business or in service, debt has been his main solution whenever a financial problem arises. He takes help of a bank or any company for his child’s education or for house building loans etc.

 One must take serious measure and proper planning so that he never falls in the debt trap. A middle class family has normally 2-3 children and for their higher education, they are bound to take debt. Their child hardly thinks about paying the debt for their parents. So, ultimately the parents have to suffer and have to pay those huge debts on their shoulders even in their old age. Life becomes difficult for the old couples after their child leaves them and goes out for their jobs.

 A middle class family generally wants to show up their status in the society, so they try out luxurious items like cars, air conditioners even though they are not being able to effort them. Their ego still inside, they take debts and buy cars, air conditioners etc and last they end up in bankruptcy.

 It might be true for only a small section of people but many middle class people spend a lot of money in family occasions like marriage parties, birthday parties etc. People cannot even give up the festivals, so they buy new cloths, sweets, gifts, for their near and dear ones.

When sometimes they don’t even get the basic monthly payment in time for their work, they go for an easy solution called ‘debt’ which ultimately turns out to be as deadly as a Cancer. It kills the patient slowly and steadily and the person who has once caught this disease cannot get out of it and even if he does, he is completely ruined by then.

 If a middle class person wants to open his new business, then the first thing that he needs is money. Neither the family is capable of providing him the required money nor his relatives. The next solution he finds is a debt with some interest. This interest does not seem too much but by the time he builds up a established business of his own, the interest crosses the amount that he took as debt. So now he needs to pay double than what he took as debt. After paying the money, he is left with nothing else but the same old life that he was living.

 The consciousness might be much more dangerous than we can ever imagine. Sometimes a person uses false documents to get rid of debt but eventually does a crime and goes behind bars. A simple living middle class person can seek no help from others in this selfish world.  He applies the only one way left with him. So, he ultimately commits suicides to get rid of this “Debt Trap”.