Buying something which you cannot aford.

**CVT** · July 27th, 2013 03:16 PM

Originally Posted by yebo

I lived in the US for 3 years. Halos lahat ng pinoy na na-meet ko ang unang advice sa akin nung bago pa ako dun e "establish ka ng credit history kasi dito wala ka kung wala kang credit". Kahit daw utangin ko yung sinusweldo ko (credit card linked to bank account, so kahit may cash ka utangin mo para may history ng credit). Kaya lahat sila pag dating ng sweldo ubos din agad kasi pambayad lang ng mortgage, car loan saka credit card. Di pa nila kinikita na-gastos na.

Worse, such becomes a vicious cycle that they can't get out from.

A few people who I know borrow money to pay for their debt from another person.. Some people are bound to be left unpaid or partially paid.....

**jick.cejoco** · July 27th, 2013 03:20 PM

any where in a modern world you can not rent a car without a credit card. they prefer card. the cars are returned at drop parking lots at the airports and any damage is charge to your credit card. if it was paid in cash basis, there would be no more rent-a-car businesses

each member of the u.s. military is issued one, the money authorized is deposited into the account electronically. these are the monies used for lodging, billeting, hotels, rent a car, food, transportation and spending money or per diem which varies from assignment to assignment. anything that is not authorized will not be honored by the branch of service finance and comes with disciplinary action

**EQAddict** · July 27th, 2013 03:24 PM

Is the topic of the thread 'buying something you cant afford to pay for in full in cash' OR ' buying something you cant afford the monthly payments for ' ? Big difference...

Sent from my iPad using Tapatalk HD

**uls** · July 27th, 2013 03:40 PM

buying something thru installment coz you can't buy it in cash...

but you can't even make the monthly payments screams YOU REALLY CAN"T AFFORD IT

**renzo_d10** · July 27th, 2013 03:54 PM

i don't have a credit card so i pay in cash

i put in the bank whatever i can save then just spend what's left on things that i need/want

i make it to the point to never spend my reserve money on the bank

i just live within the money i left for use

hirap pag may cc. swipe lang ng swipe then pagdating ng bills, sakit ulo

same with monthly car installments

first few weeks masaya... then the bills start to pile up

amort., insurance., gas., maintenance etc

nevermind

**jick.cejoco** · July 27th, 2013 04:12 PM

the old adage:
don't bite off more than you could chew

[ame=http://www.youtube.com/watch?v=GCrz3qzgH40]I Bit Off More Than I Could Chew - YouTube[/ame]

**Ry_Tower** · July 27th, 2013 04:20 PM

Originally Posted by uls

how Americans live

soon that chart will apply to pinoys

Keeping up with joneses kasi yan. Dami na rin ganyan dito sa amin, bibili nanag car pero utang. Sabi ko sa wife ko tignan mo after three years. Yun nga, dami na "for sale" na tsikot. Sad to say hindi nga nila sinsama kasi fuel and maintenance costs when making the decision to buy. Another this na comonly binibili kahit hirap bayara, smartphone. hehe

Unang 2-3 years ko working sagad-sagad din talaga, pinagbigyan ko lang sarili ko. Kaya looking back to those times, nako-kontrol ko na sarili ko ngayon. Sabi ko tama na yung pagwawaldas noon. Ipon naman ngayon.

Sa CC, discipline na lag nang tao yan. Kung wala ka niyan or tingin mo hindi ka pa ready, eh 'di huwag muna. If you think you have the capacity to control your urgse, why not. It is indeed very convenient.

**A121** · July 27th, 2013 04:50 PM

I don't think it's becoming SC or something. Ang nature kasi ng tao is to have something now than later. Dyan papasok ang interest rates. Banks are willing to lend you money now. Most people are willing to pay the additional cost to have something now than later. Interest rates are so low right now dito sa Pinas. So everyone would rather get a loan and spend the money as opposed to saving it. Magkano ba time deposit ngayon? Less than 1% per year ata. Kung bumili ka ng bonds, masyado matagal bago naman makuha.

**uls** · July 27th, 2013 05:43 PM

i gets borrowing to invest

but borrowing to spend on end-user consumption is sooo wrong

**[archie]** · July 27th, 2013 06:41 PM

I have a friend that works for the loans department. selling point nila lagi is kapag nagiipon ka for a car or house parang never makakabili dahil sa inflation. Every year taas price Lalo ng car so mahihirapan is Juan Dela Cruz. kunin mo na Oto ngayon pay for 5 years sayo na. parang nagtutulungan lang daw sila ng bank.

Para sakin parang Mali eh. hehe... commute ka na lang kung hindi kaya. well that's just how I see it.