Spend Now, Pay Later
I see so many awesome and fun gadgets out there that I too need to have. My life is not complete without a tablet, smartphone, and laptop. Not just that, but if I have forked out the dough for a monthly data plan hefty enough to stream music or movies continuously, I might as well have a car that can also connect with all these devices.
I need to stay connected. You might think I just have FOMO. No, I don’t have any fear of missing out…I just need to be available in the event that last minute invite does come up…even if it’s during dinner. All that connectivity comes at a price, which I know I can just pay later.
You might think this is a poor life strategy. Interest rates have been low for…well…damn near forever it seems. Every time there seems to be an imminent interest rate hike…the Feds decide to cut that overnight rate again. The effect for us regular folk is yet even lower credit line interest rates.
I can borrow 100,000 dollars for about $300 per month. That is crazy cheap money, and if it means I too can have a cottage at the lake…why not! We aren’t our parents who had to work hard for minor luxuries. Every company and organization seems to have a payment plan or low credit offering that makes acquisition of goods to make our lives easier…all within reach.
Not just goods…but memories. Credit is a great way to fund those far away trips to exotic lands. If you’re taking four flights to get to some remote paradise with crystal blue water and uber white sand that squeaks under your toes, you don’t want to spend your time sleeping in a tent. Four stars, afternoon massages with cocktail in hand. Maybe even a personal photographer to capture your memories, since your time is better spent just enjoying rather than documenting.
You can always pay for it when you’re back home working. What else were you going to do with those paycheques? Plus, doesn’t money get cheaper with time?