For years the banks have enticed us to fall into the shit hole of debt by offering 0% Installment Plans and 0% Balance Transfer with credit cards.

Most of the 0% installment plans are for non-durable expenses which means it encourage one to go into debt because they keh khiang thinking it is FREE Money (0% Loan) but they don’t realize that it is a debt. These people will start of with a 0% installment plan (say iPhone), and once they get “Shiok sendiri” sensations from the non-durable item, there are hooked! They will then use again the 0% Installment Plans and/or 0% Balance Transfer Pan for many more shiok sendiri sensations (e.g. TV, holiday and the really stupid ones handbags for gf who most probably be someone else’s wife and etc) and eventually can’t dig themselves out of the shit hole, where most of their disposable income will be used to pay the 0% Installment plans leaving them nothing to save for retirement or when shit happens (e.g. flood).

Continue reading →