Sunday, 27 December 2015

Rule #11: Credit and borrowing



Credit cards can be a convenient and economical way to handle daily funds. Used wisely you never have to worry about carrying cash and most cards offer incentives that will get you free shit. But be careful, young ones… take heed. The #1 rule is don’t carry a balance long enough to incur interest. Even before you start using a card for day to day purchases, create a back up plan such as a line of credit so if you ever do run into trouble, you can carry that loan on a low interest LOC as opposed to a 30% credit card. Don’t borrow money from high interest credit card companies for shit you don’t need or things the credit card companies tell you that you can have. People get divorced and commit suicide over debt.

Loans should be for emergency funds only; a shelter in which to live, transportation to get to work… that sort of thing. Not a new 5,000 inch big screen or a giant pool with a swim up bar. If you want that stuff, save up and buy it when you’ve accumulated the necessary funds. Because if you run into trouble, your debtors are not going to become sympathetic to your cause and broker a deal between the pool company to forgive some of that debt. No sir! As a matter of fact, the money hungry banks that hold that debt start seeing dollar signs. If you can’t pay, it means a giant payday for the banks and credit companies in the form of interest. Tons and tons of interest and if things get bad enough it becomes interest on interest.

Massive debt destroys lives the same as alcoholism and drugs. If you advertise debt the way credit cards do in their campaigns, you are no different than a drug dealer. I have no sympathy for a credit card company that losses money because someone declares bankruptcy due to debt accumulated on a card that was sold through an advertising campaign. If you loaned money to someone who was not in a position to handle your card, you should have done better research instead of advertising without discretion, thriving on the American dream. Advertising for debt should be illegal. Just because there’s a big bank name attached to it, don’t trust them. They are just the offspring of that two-headed whore mother, Greed and Avarice.


In the new world, lenders will make loans for necessities only and will not be allowed to advertise!

AND SO IT SHALL BE WRITTEN!

4 comments:

  1. I will have to disagree with you on this one being in the industry and all. A bank is a business and should be allowed to advertise their products...how about we abolish the Tv companies from advertising those big expensive 52 inchers! Maybe a good rule to implement in the New World would be that banks must cap the limit at 5k and there will be no more advertising of the big screen!

    ReplyDelete
    Replies
    1. You're not wrong, you're just an asshole! Just kidding, you're wrong too. A smart business is supposed to advertise to a target audience. So is a bank smart when it mails out adverts to sell money to people without a job? You can advertise big screens to everyone you want. If you don't have the money, you don't buy. If a bank gives money to someone who cannot afford a product, they should be on the hook for it when the loser who bought it runs out of money to pay for it. Being in the industry, I would think that you would know that this type of tactic lead to the financial crash of 2009! Hot shot bankers like you will need to change your ways if you want a piece of the new world!

      Delete
  2. Hmmmmm....maybe we have a misunderstanding? I don't want to keep trying to blame the wrong culprit here but it seems to me that when people come to "the. Bank" for help to get them out of financial difficulties...it is us to help them that's right...we are the heroes it's the financing companies working with the electronics store that should be at blame for the financial ruin and let's not forget about where it all stems from...irresponsible people that take no ownership for their own debt!

    ReplyDelete
    Replies
    1. Culprit? Oh I'm sorry, I didn't know we were writing a script for a 1930's gangster flick. but now that I'm aware of the rules, I'll read the rest, you dirty rat. I'll agree that people need to be financially responsible for themselves, but unfortunately, that won't happen until the unveiling of the new world. Until then, we must stop enabling the financially weak by giving them money they can't afford.

      Delete

Agree? Disagree? Lay it on me!