I’ll never get some people. Just the other day I was talking with someone I work with and she told me that she didn’t go on vacation this year because her bonus is coming in late this year and she can’t afford it yet. I asked her whether the bonus is a done deal and she said yes. But when I suggested she take a loan out, go on the trip and pay it off when she gets her bonus she wouldn’t even consider it claiming she doesn’t take loans.
When I asked her whether she ever defers payment on her credit card she said she does. Well, hello? That is a loan! But she just has this psychological fixation about not taking a loan. The truth is that she would actually save money by taking advantage of the homeowner loans banks are offering today since the interest rates on secured loans is much lower than what credit cards charge. But go tell her that…
