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Handicrafts

Handicrafts are devices or works of art that are made completely by hand or by the use of relatively simple tools. Such goods are usually made in the traditional way of manufacturing goods. Therefore, the knowledge of the art of craft is usually passed down from one generation to another. The items made using these traditional methods of manufacturing are usually produced in smaller quantities and they often represent the culture or religious beliefs of the community that makes them. The goods are also handmade from natural materials that are found in the environment of the particular economy.

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Paintings

A painting is equal to thousand words, means a beautiful painting is equal to million of words. Paintings are one of the oldest art forms -- throughout history artists have played an important role in documenting social movements, spiritual beliefs and general life and culture.

History Of Paintings: The history of painting reaches back in time to artifacts from...

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Silver Beads

In the world of Beads, Silver Beads have its own stand. From the day of discovery of silver and man’s knowledge of working with metal, man has been using silver as raw material for jewellery. Its magnificent metallic lustre and high ductility as well as malleability make it appropriate for making jewellery. Also it is stable in air and water so it do not get degrade easily. Another argue of using it as raw material in jewellery...

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Silver Jewelry

Silver jewelry is widely seen as the most widely used jewelry available on the market. They are offer in various styles as well as colors. Since it has been produce into exclusive designs, a number of fashion enthusiasts really enjoy it. In many cases, someone needs silver jewelry to beautify their gorgeous dresses. Even though there are many different kinds of silver decorations on the market, you have to be thoroughly careful when preferring one on your…

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How To Safely Manage Consolidated Debt

Posted by Art Of Legend India [dot] Com On 4:41 AM
Case MoneySummary: Consolidated debt has its risks, but if you take steps to manage it responsibly, a consolidation loan can be a lifeline in a sea of debt.

There’s no shame in being in debt. Many of the supposedly rich and famous have had to claw their way out of debt. Nicolas Cage reportedly blew away his huge fortune on three castles, two islands, a dinosaur skull, a jet, two yachts and fifty sports cars, thereafter filing for bankruptcy in October 2009.

Anyone can fall into debt, but there’s always a way out. One of the most commonly sought out solutions is to consolidate your debt. However, you need to be very much aware of the risks involved.

What Is a Consolidation Loan?

A consolidation loan is a single loan wherein you place all your debt from various sources, and then only need to worry about one lump sum to pay off. This streamlines your repayments, frees up cash flow, and gives you more time to pay your debt off.

What Are the Risks?

Firstly, you need to know that just because you’re paying lower interest rates and smaller sums, you won’t be paying less in the long run, because you’ll be making repayments over a longer time. Herein is the danger: because people end up paying less each month towards their debt, they might get into the trap of using that freed up cash to spend where they shouldn’t be, which is usually the reason for debt in the first place. Furthering your debt is a possibility if you don’t change the way you deal with money.

If you’re considering this route you need to make a plan, change your spending habits, and stick to it.
Safely Manage Consolidated Debt

How to Make a Consolidation Loan Work For You

First make an informed decision about whether a consolidation loan suits your financial situation and repayment abilities. If you’re paying off high interest credit card debt, but only at the minimum rate, you’re going to be paying for a very long time. There is an amusing article in cracked.com that explains Why You Will Never Pay Off Your Credit Card. Calculate for how long you would be paying off your current debt, compared to a consolidated loan.

If you’ve decided a consolidated loan is for you, then read on.

Take the time out to find rates that suit you. Weigh up how much you’re comfortable paying off each month, with how long you want to take to get out of debt. Don’t simply go for the lowest repayment options. Remember, with the more you pay each month, not only will you get out of debt faster, but you’ll be less tempted to spend the extra cash unnecessarily, potentially getting back in to debt.

However, don’t be over eager in paying back as much as you can. There are unexpected occasions where you’ll need some extra cash, such as medical bills or car troubles, and then you don’t want to be in a situation where you’d have to spend on credit again.

However, if there aren’t unexpected expenses, don’t think you can just spend extra money on a cruise or a new sound system you don’t need. This is your chance to change your financial habits. Get debt counseling if you need to. Draw up a practical budget and stick to it.

Whatever you do, don’t miss repayments. Also, be sure to make your payments on time. Many don’t realize that even being late by one or two days can have a serious adverse effect on your credit ranking. 

If managed correctly, a consolidation loan can be a lifeline in a sea of debt. Just be sure to be careful and responsible. Think of it as an opportunity to readdress your approach to your finances.

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Company Overview

Art of Legend India has the distinction of being one of the best in the Indian Handicraft Industry. We are about 75 years old handicrafts manufacturer & exporter. We are having team of more than 500 craftsman.

We are having our business offices in India, USA & Germany to ensure our best services.