Posts Tagged ‘finance’

Spending So Much To Find Love Later In Life

Saturday, July 26th, 2014 by

I was reading an interesting story today about a person named Dr. Emil Chynn who apparently went with the life route of making sure your career is all good first so that you will be financially ready for love and to start a family. Apparently he hasn’t had much luck and even went to extremes such as offering to give away cash in the five figure range if someone introduces him to a match.

That’s kind of interesting to think about in terms of how much money one would potentially spend to find a mate later in life versus how much simpler it probably is when you are at a young age. Then again, maybe this is simply the case of someone working too much continuously and not taking the time to meet people. I was thinking too, is it inappropriate to think of this kind of stuff from a financial point of view?

Example, the other way to think about it is you take the priority in finding your match first and then build your wealth together. This is as opposed to two people trying to make it on their own and then hoping later down the road they meet someone of an equal level. Money and finance isn’t so straight forward when it comes to life direction huh?

Seeing People Spend Money Like Water

Thursday, July 24th, 2014 by

I saw this interesting video today of a proposed reality show to be shot here that revolved around “Ultra Rich Asian Girls” of Vancouver. I guess you can say it seems to be going in the direction of all of those “Real Housewives of” shows where people get to view the drama revolving around rich people. This was the trailer I saw:

For the most part it seems like they are trying to find people who essentially inherited a lot of money and as a result are pretty carefree with the way they spend it. What caught my attention are the comments that people made such as how showing stuff like this will simply encourage people to be irresponsible for money. That got me thinking, does seeing things like this actually influence you to spend less or more in your life?

I know for myself, seeing things like this ironically makes me not want to be irresponsible with money. Am I the only one that thinks it’s silly for example to see someone buy such expensive things where they don’t seem to even think about the future or what would happen if they lost all their money one day? In that sense, it’s almost like it’s a free life lesson and in some ways is no different than reading stories of people who are say addicted to a certain substance. Like there, no matter how much you try to glamorize it I would think seeing it would discourage you from following that path.

It Takes Facts About Interest Payments To Change People

Tuesday, July 22nd, 2014 by

I saw this interesting clip today of a couple who was essentially getting financial advice to help them get out of debt. The story itself wasn’t anything new as it was simply a case over spending and buying high luxury items. When the financial adviser went over their spending habits the funny thing was they seemed kind of contempt with it as if it was normal. Speaking for myself, putting like $15,000 on your credit card that you can’t pay off is alarming by itself.

It wasn’t until they dived into the topic of how much credit card interest they are paying each month where it finally dawned to the couple that things need to change. Isn’t that kind of crazy that it takes that little detail to get people to change their financial habits? It almost comes back to the general point on how many people don’t like to see other’s benefit where in this case it made them realize how the credit card companies got money from them. Before hand, I guess it is safe to say that they saw the situation as they were the one’s getting the better deal out of the credit card company.

I am almost interested in trying that technique to see if it works on others too for everyone that has an outstanding credit card balance each month. It’s like you don’t even need to go into detail to get people to think about their future. Instead, just show them how companies are making money off of them and it will be an instant change in mindset.

Still Waiting For Sales In A Membership Based Store

Monday, July 21st, 2014 by

I was with another person doing some shopping and price comparison today where they happened to have a membership card to a store which supposedly gives you better prices for items compared to traditional retail stores. Upon our little journey though, that definitely wasn’t the case in many instances the regular stores often offered cheaper prices and at the same time you don’t have to buy the items in bulk.

Interestingly enough, it seemed like the sale items at the membership store was consistently cheaper than the regular stores. So the simple conclusion out of this test is that even if you pay an annual fee to get exclusive discounts from a business you generally still need to wait for a sale of some sort as the regular prices can be just as expensive as non-membership based stores.

I think many people often assume that if you have to pay to shop at a place then the prices must truly be lower. Therefore, people usually throw away their shopping savviness and start throwing things into the cart. That just isn’t the case whenever I compare prices personally. While granted you may get some valuable spiffs and discounts at places that require a fee based membership, you still need to keep an eye out on what is actually on sale and is a good value I think.

Better To Not Pay Interest Rates At All

Friday, July 11th, 2014 by

So I got this offer for a credit card today and by the sounds of it I was pre-approved for a $10,000 credit limit. What I found that was kind of amusing was the sales pitch as you can see here to justify the annual fee of the credit card:

interstcardoffer

As stated here “The money saved on the interest charges easily covers the $29 annual fee.” I think the answer to stuff like this should be “no” and “no” some more as in my view if you don’t actually have enough cash to buy the item then you shouldn’t be using a credit card. I suppose this is what people are taught to do with credit cards though where somehow paying interest fees on them is okay and normal.

It did made me wonder why I got this offer though as I don’t think I am a very profitable customer for the banks in this regards since I always pay my credit card statements in full. If anything, I use it to try and get all the benefits out of it that I can with money that I was going to spend anyways. Paying interest rates is not a good idea to use one.