Monday, February 26, 2007
Money Matters 2
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We were at Taka this evening to take a look at Coach and Gucci. She was planning to reward herself with a bag or a pair of earrings she saw yesterday priced over $2k.
It would be good if our accounts never run dry. But as what Sharon said, majority who fail to repay their credit card payments belong to 20 to 30ish years old group.
I am currently attached to her for training and one of the things she taught me is to calculate finance charges. It's really frightening to see how the charges accumulate if you fail to make a 100% repayment.
I was looking through msn.com and saw this featured article: Your 30s: Now's the time to get ahead. It tells of how you have gain career advancement by the time you hit your 30s, but it is also one of your darkest period, in terms of debts.
That would be the time when you would be burdened with auto loans, home loans, personal loans, credit loans and renovation loans. There would be some of us who are still repaying our education loans. Of course, there would be income taxes, property taxes, insurances, maintenance and repairs. We could also never foresee when we would need to get that laptop.
Never forget you may have maid allowances to pay, your children's expenditures and parents' allowances to give.
Worrying, isn't it?
I guess that Beemer can continue to stay in the garage. It's time to build that Emergency fund, retirement fund, home fund, auto fund...
So fun, isn't it?
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Time to do my assignment.
