Thursday 6 February 2020

Life lessons

I work in a job where I deal with the public. I see a lot of stupid stuff.

I used to get worked up about it. I used to try and give people advice or point out a few things that I think would help them out. Now I no longer bother.

For example, one of my clients is leasing a used vehicle and thinks he is getting a good deal. He showed me the paperwork. He is paying twenty-four percent interest. There is a reason why there are ads that state anyone can get financed. It is because there are companies that will lend to people that are poor credit risks and charge a high interest rate. This is not a young person either.

I ran across another one who is financing a motorcycle that is six years old. He is in his fifties and financing it at fifteen and one half percent interest.

I used to try to say something to people like this however I gave up long ago. People like this I find keep making the same dumb mistakes over and over and never learn. I could never sell a vehicle to people where I would set up financing like this. It would keep me awake at night. I like to think I have a conscience.

What makes it worse is these people vote.

10 comments:

  1. ...I'd loan money at those rates!

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  2. I am always amazed that some people who seem reasonably intelligent and make reasonable wages but haven't got two cents to rub together or next months mortgage payment or rent set aside. Absolutely no money management skills whatsoever.

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  3. The problem is that logical actions usually require a certain amount of self control, something sorely lacking in most folks these days.

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  4. We live in an instant gratification consumer society. Buy, buy, BUY!

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  5. Re your second example: When he saw it was 15.5%, he probably thought, "I haven't been able to get 15% since 1981!

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    1. I do remember very high interest rates from those days.

      I do see a lot of dumb financial decisions. I really do not know why it bothers me. It is not my money and it is not my problem.

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  6. People seem to think that those who work in financial institutions are looking out for their best interest - not so much. We're driving a 2011 Rav4 and plan to drive it into the ground. Having no car payments is such a wonderful thing!

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  7. I did that a few times for people who deliberately arrange for a big tax refund, by understating their deductions, or the like. I've also shown people why paying down their mortgage a few bucks in the beginning would save them big coin in the longer run.

    Meh. Now I just smile and wave.

    https://www.youtube.com/watch?v=MANF9kLUPWg

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