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It is Better to Pay Cash!

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Avatar for cooldude
Written by   25
11 months ago

I entered the gadgets store and was rounded by three guys. One pulled my arm, one pulled my leg and another my neck. They we're leading me to the section"Easy Buy". ( You would be given goods and pay percentage of the cost every month). How did I get there?

I am cooldude and this is my first article on readcash. I have always been passionate about cryptocurrency in general, learning new ideas and communicating mine. Hence, I believe this platform is just for me. I am a writer/blogger for a couple of forums which I have been using to acquire many coins, and I'm excited to take it on here as well.

A friend who goes by Happyboy introduced me to the platform after giving me detailed explanations of how it works. I made a determination to start my journey on readcash. Then I thought, what if I got a new phone for this journey? Well not exactly for that reason. I was going to buy a new phone regardless.

I entered the gadget hub and experienced what was stated in the opening scenario. They wanted me to buy a smartphone and pay in a duration of 6 months. Why would anyone beg for others to purchase their goods on credit? You might ask. Well they make a gain of over 30 percent extra, and you can't really run with their money since they have all your banking information.

Some might think this is a great idea for the masses. But is it really? No matter how sugar coated getting in debts might be presented, it is always better and cheaper to pay cash. And for good reasons.

The idea of buying now and paying later just means going into debt. People buy things they can't afford at the moment and it is paid from the future earnings of the individual, money he does not have but expects to earn. That is why there is always a problem if workers earn lesser than expected of lose their jobs altogether. They will be unable to pay and this will lead to the creditors repossessing the things they purchased. Hence, bankruptcy starts smiling at the debtors.

Not only do people buy what they don't need but they also lose money. Of course, they have to pay more for the product because of interest charges.

Money lending is a lucrative business. In fact, companies do not want customers to pay cash, because of the huge profit they make on the interest on debt payments. Some even make more profit on the interest than they would on the item itself! Let us consider an example.

The gadget I wanted to buy was $100, but if I go with easy buy it would be $125 for a duration of 6 months. Imagine what I could do with $25? If I purchased on credit, that means I teared $25 and threw away the pieces.

The best decision

Have a balanced view of material things and don't purchase what you can't afford. If you need anything that is costs a lot, plan ahead by saving for it.

Never let a seller pressure you into debt by telling you about ‘easy credit.’ There is no such thing. All credit is hard. Meet anyone who is now unable to meet payments or who is having to declare bankruptcy and ask them about it. Indeed, it is cheaper to pay cash.

That is why I didn't listen to those guys I mentioned at the onset of this article. I told them I have my money in cash, not in the least interested in going into debt. I also want to dedicate the new gadget to readcash, since the platform inspired me to purchase it.

You guys don't have to thank me, it nothing really. 😊 I hope I can do more than this subsequently.

Thanks for going through my first article. I hope I will enjoy it here.

16/10/2021

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Avatar for cooldude
Written by   25
11 months ago
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Comments

Yeah I got my phone through easybuy duration of three months, it was cool using the app, but everyday message keeps entering my phone that my phone is oweing debt that needs to be paid... everybody that collects my phone, will know that is easybuy...mmmm wahala thank God I have finished paying on the 16 of these month...I quickly deleted the app.. Don't come and stress me

$ 0.00
3 months ago

This article is cool as you are cool dude, thanks for the financial advice

$ 0.00
11 months ago

i once went with a friend to get a phone. immediately we entered they rushed us same way they did to you. i was shocked until i heard they wanted to know if we are buying on installment basis. it was a funny scene because immediately we said "No" , they all left us as if we no longer exist.

$ 0.00
11 months ago

Yes it was surprising. It pays them to sell all their goods on installment. Very funny scenario

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11 months ago