Credit Card Woes

I have had my credit card for less than a month..and oh BOY they really do a great job of trying to trap you to spend more than you earn. :(. I think I have spent more money in the last month than I have in this year so far…that’s terrible :(. But I guess, I try to reason with myself, these things are necessary…but are they really?

Did I really need to splurge on the newest iphone model, or could I have gotten a cheaper but older model? Did I really need to get that fancy epilator with 5 different ways to use? Did I really need to get my car serviced at TOYOTA when I could have done it way cheaper anywhere else?!!? As I think of my spending habits and question whether I am wasting money…I think it has made me rethink my choices. I understand why some people can max out their credit cards…it’s just so easy..Just pay wave this, pay wave that. You don’t see the money come out of your account straight away, so you think you can spend a bit more. It’s ADDICTIVE and you tell yourself, it’s okay…I can get points for every dollar I spend! You think about the long run about what you are saving up for. But are you really?!?! IF YOU ARE SPENDING MORE THAN YOU SAVE?

So many questions. But anyways, I have got my first statement from my credit card and I am pleased to say I have paid it off. But, this month’s bill is gonna be huge 😦 eeks.

Be careful guys, staying at home makes it so much easier to buy things online that we might not need!  Just rethink if you will regret the decision later.. >.<

Brand Loyalty

So today, I did a dumb thing. I accidentally dropped my non-water proof iphone 6 into the toilet…It was my first and hopefully  last time to do that. I freaked out..!! All the germs that must be on my phone! So I did the stupidest thing possible, I ran it under the tap to wash it. Then I tried to dry it with a towel, then I disinfected it with an antibacterial wipe. Yes, it’s probably clean, but also I have unknowingly (?) caused water damage to my phone. The screen is like all messed up, the touch ID finger print sensor doesn’t work anymore, and it permanently says I have headphone plugged in when I certainly do not. So basically I have a phone that you cannot hear from, cannot use touch ID, and has this white glow in the middle of the screen. Fingers crossed no one will call me in the next few days until I get my new phone.

So I bought a new iphone outright on a whim. THIS IS THE PROBLEM WITH HAVING A CREDIT CARD!!! I will write a separate post for that. Extra time to pay off my large purchases? Yes Please. 😦 . I have decided to upgrade to a iphone 11. Currently I have a SIX. Which is basically ancient and was dying before I dropped it in the water…So it was sort of good timing I GUESS. Why did I get a new iphone? I can’t explain it. I am not interested in other phones anymore…4 years ago I got my first iphone and have fallen deeply in love with it, then it spiraled out of control from there. After my first iphone, I got a second iphone 2 years later…then I splurged on a MAC BOOK AIR..and this year I got Apple airpods. What’s next?!?! Probably Apple Smart Watch when if and only IF my fitbit ever dies or I lose it again. It just makes sense to get another Apple product to complete my collection. I just love all my Apple products.. HECK if there was an Apple car … TAKE MY MONEY? Did I tell you I have the Apple sticker on my car, in my poor attempt to make it an apple car? Lame. I know. But this my friend, is BRAND LOYALTY.

It can start off subtle, when someone you know takes out their iphone and it’s SO SHINY and apparently the battery life is great! You compare it with your shitty android phone with bad battery, and think to yourself…Let’s try getting an iphone next time! THEN you are hooked. Probably hooked for life. It’s not just phones as well, it’s cars, vacuum cleaners, hair straighteners, clothes, skin products.  I think we as humans have just made brand loyalty as part of our DNA…and addiction, a habit…and it starts with those around us like our parents influencing us. I have a Toyota because my parents usually bought toyotas. My sister bought a GHD hair straightner, so I also bought one. I bought an iphone, then my mum and brother followed suit. Heck, we even make habits of even where we choose to cut our hair and hence because of Covid I haven’t had a hair cut in almost 10 months because my hairdresser isn’t open :(.

My point in all this is (if there is a point) to raise an awareness of our brand loyalty. Why are we so loyal to that brand? It most likely would be because of the product’s reliability and how durable or how well it functions. I trust Apple to always make a good quality, long lasting, and sleek looking devices. I know it may seem over-priced, but I rather spend a bit more on something I will really love using and look after, than something cheaper which I don’t love.

What brands are you addicted to?

Got my first Credit Card

I finally got a credit card. Not because I need it for anything at the moment, just mainly to get points and to see what it’s like. I feel like this is another step towards adulthood or maybe not?…I am hoping to be able to personally get enough points to fly to London when Covid-19 blows over..!

 

Credit Cards have become a norm in the society that we live in today. With the lucrative offers of bonus frequent flyer points, free travel insurance, VIP lounge entries, and other incentives, it is almost like another form of gambling. If you pay off your debts in time, you are fine, but the temptation to spend more than you earn is always there and you pay a hefty price if you don’t pay your debt in time. This post will look into the benefits and cons of having a CREDIT CARD!

 

For those who have suddenly hit an unexpected emergency and are in needs of funds urgently, credit cards are a life-saver. It allows you to pay that debt or bill immediately and buys you some time before you have to pay it off. If you are good with money, you can use it a way to increase your cashflow as well as reap the many benefits of having the card. Other benefits including earning points on normal everyday purchases and which then can be exchanged for things like plane tickets or gift cards at supermarkets. Other lucrative benefits also include things like complimentary travel insurance, free lounge entries at airports, and other deals depending on the card you have. It basically enables people to purchase expensive items and pay it off over a longer period of time. For those who are struggling to make ends meet towards the end of a pay cycle, this is life saver to enable them to still be able to pay for rent, food, and other necessities before they get paid from their employers.

 

In saying that, the temptation to spend more than you earn has leads to many Australians into debt. By living beyond your means, you pay the hefty price of interest rates up to 20% for the amount that is owed. You could potentially end up losing a lot more money than you could save from having those points. This could lead to people turning instead to things like crime or theft in order to make a living. Financial crisis can also a very stressful thing to be in and is one of the causes for mental health breakdowns.

 

While credit cards may be great for some people who know how to manage their money, for others who do not have good self-control, it is a trap that is best avoided. Despite the huge number of tempting benefits of having a credit card, it is something that needs to be thought of carefully and not for those faint – hearted.

 

Keen to know your thoughts and do YOU have a credit card?!