As consumers, I want to constantly buy things. Shopping makes most of us happy. Anyway I come across this article which make me think before I buy.
"If you're looking to get the most value for your dollar, it would do your wallet good to check out secondhand options. Many used goods still have plenty of life left in them even years after the original purchase, and they're usually resold at a fraction of the retail price, to boot. Here's a list of 21 things that make for a better deal when you buy them used."......Read More
Paying credit card with minimum amount monthly
Many card holders is financing the issuers. Extend their debts by doing what the card companies love, PAY MINIMUM. By paying the minimum you lets issuers generate lots of interest before that principal is finally paid off.Eg,
Owe: $2,500
Card interest: 18%
Minimum payment: 3%
When will you settle it? In 180 months
Principle paid: $2,500
Interest: $2,298.98
So, think twice before getting into this trap!
The Review
If you on a plan and targets, set your own periodic reviews. Every 6 months or yearly.
In my simplified plan, I review it yearly while ensuring I stick to the plan on the monthly basis.
Review will give you a snapshot at that particular timeframe. Again, this will serve as a guiding path towards your final goal.
After a while doing this review, fine tuning is easy and you will find it comes naturally.
Whether you believe you can, or whether you believe you can't, you're absolutely right. --Henry Ford
In my simplified plan, I review it yearly while ensuring I stick to the plan on the monthly basis.
Review will give you a snapshot at that particular timeframe. Again, this will serve as a guiding path towards your final goal.
After a while doing this review, fine tuning is easy and you will find it comes naturally.
Whether you believe you can, or whether you believe you can't, you're absolutely right. --Henry Ford
Gotta to have fund
Every thing else that you want falls under this category. A car, household electrical, electronic items, etc.
Exception is for the house as this falls under necessity.
I took the approach of running a company for these items. They have a lifetime and the funds readiness is directly tied to their useful lifetime. This is because I want an easy life. It is not worth it to clutter your life with problems created by these items.
Eg. A refrigerator in my home should run without any problem for 7 straight years. After the equipment hit its lifetime, I will consider to change it for a new one well before it create any problem. The item works for me instead of creating a problem for me. Easy life....
Exception is for the house as this falls under necessity.
I took the approach of running a company for these items. They have a lifetime and the funds readiness is directly tied to their useful lifetime. This is because I want an easy life. It is not worth it to clutter your life with problems created by these items.
Eg. A refrigerator in my home should run without any problem for 7 straight years. After the equipment hit its lifetime, I will consider to change it for a new one well before it create any problem. The item works for me instead of creating a problem for me. Easy life....
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