I used to have a childhood friend whose family loves to take things on credit. For some reason, I feel envious that his house always have more things than I have.
But now that I am wiser on buying things on installments, I realise that most of the time you pay much much more at the end of the day for that convenience.
You will get a lot of promotions that passes you a credit line or enables you to rent as you use. Are they really good deal? Probably some are some are not.
Here is an infographic that lets you understand some of the evil downsides of predatory lending:
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.
Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.