Relationship Chronicles: Letter to the Sidechick

To you my dearest sidechick

I know you’ll smirk when you see this

But let’s see after reading its full contents

If that smile will remain on your face b*tch

 

Thank you for capitalising on my relationship problems

And convincing my partner into thinking you’re the solution

But just like our problems, you too shall pass

And your plans to become the wife is really a delusion

 

Your 5 seconds of fame will never measure up

To the several years of history between us

And though your bedroom acrobatics grants you day and night passes with him

You remain a circus attraction, nothing more than lust

 

You must have struggled significantly to find someone of your own

And had we met under different circumstances, I would have helped if I had known

So I understand that the best you could do was to share a man already promised to another

But you made a terrible mistake to tangle with me who’s not only his wife but to his kids – a mother

 

You forget that you remain relevant so long as we have conflict

That you are the ready outlet for all the pent-up frustration and anger expressed through his dick

That your days are numbered, your allocated time – few in the role you play as his lover

Because the day we get through this rough patch, you’ll be lucky if he even bothers

 

I go through this trouble of setting the record straight

Because he’s a good man and you’re his first (and last) indiscretion

I did not invest my time and energy into this man

So you could benefit simply because it’s your intention

 

I need not fight and get physical with you

Because I know your place is temporary

You are the ‘bad times’ they spoke of when I took my vows

Though you believe you’re living the good times on the contrary

 

Because of you I’m constantly reminded of one thing

Despite the fact that you believe yourself to be better

You will forever remain the runner up p*&sy

As long as this ring remains on my finger

 

*Stay tuned for the side-chick’s response to the wife*

 



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The System Was Built To Keep Us In Debt – Part 3

Consumerism

Now many people are under the false impression that being able to indulge in retail therapy or have an endless variety of shopping options represents the hallmark of freedom of choice and modernization. However, this is far from the truth. Many have succumbed to the weight of peer pressure, celebrity life culture or sheer vanity and as a result, have landed themselves in huge debt, all in the name of living in comfort. We are constantly bombarded with advertisements in our public transport, on the streets, through the radios and television and through our phones. Ultimately, these advertising companies hope to linger in the subconscious of the consumer long enough such that the minute they are ready to purchase something, the brand(s) will be the first among many that they will recall to mind. To add to the debilitating problem of living beyond one’s means, we have also seen an upsurge in reality TV shows which celebrate glamour, fashion and expensive tastes as much as they do scandal, sensationalism and conflict. With the likes of Keeping Up With The Kardashians, America’s Next Top Model and Real Housewives, many viewers are not only enjoying the volatility and madness that they see on screen but also subconsciously taking note of what is trendy, in style and high fashion, with the aim of also following suit. Furthermore, our family and festive occasions have been turned into a shopping orgy. Thanksgiving, Christmas, Valentines Day etc. have had all their inherent sentimental value stripped back so significantly that it is commonplace to expect gifts, presents or some tangible award on these occasions. Nowadays, it is tantamount to blasphemy to have Christmas without gifts and the notion of Santa Claus delivering presents to children not only reinforces this concept but also does nothing to remove the strain of spending borne by families.

Low Self-Esteem Is Big Business

Furthermore, isn’t it interesting how businesses not only capitalise on our vanity and/or laziness but also our low self-esteem? The proliferation of products to mask our unattractive bulges, uneven skin tones, brittle and thin hair or improve on what society has convinced us to be very ordinary and unappealing appearances have seen many consumers dig even deeper into their pockets for temporary fixes. In fact, the more insecure an individual in their looks and how they feel about themselves, the more likely they are to swell the pockets of these big business tycoons. However, none of this would be made possible if there wasn’t an equally steady proliferation of loans and credit cards. In this interesting article titled ‘Why There Is So Much Debt’ (http://positivemoney.org/issues/debt/), the following was highlighted:

Most of money in the UK is created by banks when they make loans. The only way to get extra money into the economy is to borrow it from banks, leaving us all trapped under a mountain of personal debt and mortgages.

When you take out a loan, new money is created. As people borrow more, more new money comes into the economy. All the extra spending this newly created money funds gives people the impression the economy is doing well, which encourages them to borrow even more. As the debt goes up, so does the amount of money.

It’s A Trap

Many people and families have been lured into this false sense of financial security because they have credit readily available at their fingertips. Therefore, they assume that they have an added touch of freedom to live as they please. Whilst this may be true in some respects, it only takes a bout of serious illness, the birth of a child, another wave of recession, a car accident etc. to convert an initially picturesque life into a life plagued with financial difficulties. In addition to this, the joy from retail therapy is often short-lived and we are ultimately left with the glaring reality that we will have to suffer for some months (or even years) just because of some momentary indulgence. These are the circumstances which benefit credit card companies, loan companies and banks the most. It isn’t normal to have to work several jobs to pay back debts and it is unacceptable when credit cards and loans have to be used so that an individual can break even. People are unknowingly becoming slaves to capitalism and are being hoodwinked by the glitz, glamour and appeal of living frivolously. Whilst we envy each other for possessions, social standing and appearances, we lose sight of the fact that we are digging ourselves into considerable debt in order to chase fleeting moments of satisfaction. We think we are doing well when we can get that designer bag or luxury car, not realising that the debt we’ve created for ourselves has financed another villa for a millionaire further up on the financial food chain.

I could go on to talk about mortgages and even pensions. However, I trust that with this and all the previous articles, you’ll believe me when I say, this ‘system’ was built to keep us in debt.



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When You’re In Good Company

There is a marked difference between when you spend time with people that you can’t wait to get away from and when you spend time with people who you can’t get enough of. Those people who you tend to have endless conversations with, the ones you wish time would stand still for so you could have more fun, the ones you can easily laugh, talk, play around and joke with – these people are what you class as good company. What is incredible about good company is that there is no expiry date on the fun-factor that accompanies your interactions with them, from one moment to the next. You can go weeks or even months without speaking, yet when you do finally get together again, the jokes are just as hilarious, the conversations are just as enthralling and the interaction is just as lively and vibrant as the last time. It’s just what happens when people manage to ‘click’ with each other on an emotional, mental (and dare I say) spiritual level. So how do you know if you’re in good company? Here are some clues:

You Can Relate To What They’re Saying

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People often underestimate the fact that we usually bond through sheer virtue of having similar experiences. This transcends any differences in social standing, income, culture or religion. Once you establish that you have an experience or two in common, that is already fertile ground for a lively or interesting conversation. You can swap ideas, share the outcomes of your personal dilemmas, laugh about the crazy stuff in-between and feel at ease that you are not the only one in this world experiencing similarly crazy issues. Whilst we all recognise each other to be fellow human beings, there is something special about finding someone who has also been through what you’ve been through or just simply have the same hobbies and interests. It’s almost like you can see a glimpse of yourself in the other individual and that is a very lovely thing.

You Don’t Need To Drink To Have A Good Time

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If you need to drink around the individual(s) in your company to experience anything remotely close to fun, that isn’t good company. In fact, that is frankly really sad. It’s almost as if the alcohol is being used as a sedative so that your senses can be dulled enough to experience the buzz that you’ve otherwise failed to get from the company you’re in. Now that should not be the case. As a matter of fact, the alcohol (in moderation, of course) should be an added bonus to an already comfortable gathering rather than a crutch for small talk and conversation. I have had some of the most interesting and intriguing encounters with other people, in small and large gatherings, without once having alcohol grace my lips. However, whenever alcohol was involved, it added to the already enchanting ambience which was all thanks to good conversation and an easy-going atmosphere. A drunk or drug-induced state doesn’t have to be the objective when you’re in good company.

You Have Good Listeners

Listening
We’ve all been there where you’re surrounded by people who don’t care to hear anything or anyone but themselves. Even if the content of their conversation is waffle, nonsensical or purely grand-standing, they are determined to draw attention to themselves at all cost. On the less extreme side of the spectrum, you also have those who will ask questions and pretend to be receptive to your answers only to ask the same question 10 minutes later. Needless to say, uninterested, disengaged, narcissistic and indifferent people are not typically good company. To be honest, when surrounded by such people, it is understandable why some rely on alcohol to get them through the whole ordeal (especially if it’s meant to last a couple hours). However, if you manage to find one good listener within such a crowd, you’d be surprised at how much difference this makes. Being a good listener yourself also opens up the opportunity for learning new things and connecting with new people. Who would have thought that such a simple thing as listening could make a massive difference in the quality of your interaction?

You Look Forward To Seeing Them Again

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This is a no-brainer. Nobody eagerly anticipates reuniting with people that are as bad as a hangover and as familiar as a headache. On the other hand, when you’ve truly enjoyed the company of a group of people, you don’t need any prompting to make arrangements to see them again. That’s just the natural course of things when you connect or truly have fun with someone. To this day I still keep in touch with people that I met in China because we bonded so well that it would be a crime if I did anything but!



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Signs That Your Relationship Is Going Nowhere

Ladies, we all see and know the tell-tale signs that our relationship will only go so far and no more. I agree that we are flawed individuals so it would be highly disingenuous for us to expect our ideal man to be perfect. However, the issue isn’t being unrealistic in love. The issue is recognising what you can actually live with and there are just some flaws, emotional baggages and character traits that you can’t (and shouldn’t) tolerate. If more women were honest about this and didn’t try to justify their glaring incompatibility with their partner through their need to have companionship, a lot of us would be spared the hurt and pain which inevitably occurs. I will use the scenario between my ex-boyfriend and myself as a guide:

  • No Drive and Ambition

No Ambition

My ex-boyfriend was around 25 yet he still lived with his grandmother, kept company with shady, disrespectful and far from constructive personalities and his level of literacy was questionable but he did well to cover this up with a lot of bravado and macho behaviour. In summary, he was an idiot but I was attracted to his bad-boy persona and it didn’t help that he reminded me a lot of Tu-Pac (which thinking back now, is an insult to the man’s memory). Now as much as I was younger than him and he was the first relationship that I ever had, I was far from naive. I knew from very early that it would be a mistake to have children for this man. Why should I? He wasn’t forward thinking, was both ignorant and arrogant at the same time, had friends that were just as good as enemies and would rather blame his poorly status in life on his childhood rather than make an effort to chart a new destiny. Now there is a difference between holding down the fort for a man that is constantly trying but has hit a rough patch and holding down the fort while your man happily wallows in mediocrity and excuses. That’s where drive and ambition becomes a deal-breaker. I respect a brother who will do what it takes to ensure that his future is not as obscure as his past and that his kids won’t experience what he had to live with. That takes guts and a considerable level of inner strength. The point is, we women need to see a situation for what it truly is. As much as I sound extremely harsh recounting my experience with my ex-boyfriend, unfortunately he did nothing to prove my suspicions wrong.

 

  • He Had A Lot To Say And Nothing To Back It

 Bullshit

Now I know that many women can definitely relate to this. The man has all the talk in the world but nothing to show for it. In my case, my ex not only did better to say the part than do it, he was also notorious for saying he abstained from a particular thing, only to turn around and indulge in it. For instance, in keeping with his bad boy persona, he would often talk (or behave) as if he was fearless and unafraid. However, put against the right person and he would think twice about running his mouth. Also, without prompting, he would say things like he didn’t eat a particular food or he wasn’t keen on a particular drink. Yet, you only had to turn your back for a few seconds and half the thing would be down his gullet. Now, I am not a fan of unnecessary talk. As a matter of fact, I loathe it. I lay more faith in someone’s actions and how this matches up with their words. As far as I’m concerned, if you can’t be reliable (or truthful) with the small things, you certainly won’t be reliable (or truthful) with the stuff that really matters. I’m allergic to idle talk and bullshit and it took being with him for me to realise that that was another character trait I would make sure to avoid in future relationships.

 

  • He Was A Social Retard

 thesocialretard_logo

Too many women forget that their man is in many ways a reflection on them. When you bring someone into your life, they not only become your significant other but they also become a part of your wider connection of friends and family. Now my ex-boyfriend was so accustomed to the rough, crude and noisy lot he called friends that he was completely out of his element when around quieter, slightly more refined and decent people. Now it wasn’t that he was unable to get along, he just didn’t care to. His idea of engagement with my friends was to stay glued to his mobile phone and he couldn’t contribute to any conversation meaningfully because he wasn’t accustomed to talking about anything other than sex, fights or neighbourhood scandals. Now don’t get me wrong, you can have a partner that isn’t a people person but he is able to blend in and get along for so long as the interaction lasts. I can appreciate that. However, to be shackled to a man that isn’t even remotely adaptable is quite worrying. Needless to say, I was embarrassed. This could have easily been forgiven but not when this obvious faux pas was also accompanied by a considerable level of arrogance. As if that wasn’t bad enough, one day he also made the mistake to speak ill about a member of my family. Now judging from the tone of this article, you can only imagine the level of dysfunction he had in his family. The point is, all these things are warning signs. It shows a lack of adaptability, a lack of accountability in your own personal development and also a severe lack of humility.  So he quickly graduated from being an unreliable hothead to a complete embarrassment.

 

  • I Didn’t Respect Him

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With all these factors working against him, let’s just say that I lost respect for him rather quickly. It wasn’t the fact that he was dealt a raw deal in life and was faced with working twice as hard to really accomplish something. It was the fact that he was more comfortable with excuses rather than results. Never once did it occur to him to branch out on his own and live outside of his grandmother’s house. Never once did it occur to him that the friends he was determined to impress weren’t even half as important in the bigger scheme of things. Never once did he attempt to do something worthwhile and valuable for himself. What made it worse was that whilst he had very little to offer, he had a very good idea of what he deserved and what he was entitled to. That was both in regards to what society seemingly ‘owed’ him and what was expected of a woman in a relationship. These were fairly rigid expectations and standards which he very loosely applied (if at all) to himself. So yes, I lost respect for him. The problem is, when you lose respect for a man, it is impossible for this not to manifest itself in the way you speak and behave towards him. I found myself frowning at his feeble attempts at advice. I began to give little regard to what he claimed or said and I was also noticeably very unforgiving every time he would disappoint. In effect, I just grew tired of him. Now, as much as one can sympathise with my attitude, it’s not worth staying in a relationship when you’ve lost respect for your partner. That causes you to sink to a new level of low and vindictiveness and it also slowly replaces whatever pleasantness there may have been with bitterness and resentment. As a matter of fact, lack of respect often provides fertile ground for verbal and physical abuse to develop. I do not subscribe to that simply because I wouldn’t want that for myself. Therefore it was only a matter of time before I eventually ended the relationship altogether.

 

He Cheated

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The interesting thing about this whole situation was that I was relieved when he confessed to doing this. My ex-boyfriend was a complicated individual. I suspect that he was aware of his shortcomings and that it was only a matter of time before our relationship ran its course but he was the type that refused to let go emotionally and physically once he grew attached. Therefore, I knew that even if I was to highlight the previous points as reasons why the relationship was no longer tenable, in his mind it would not be sufficient grounds to call it quits. This would mean being constantly hounded, bothered and even possibly stalked. So my first break came when I migrated to another country. Even then, out of some sordid sense of loyalty, I kept in touch and didn’t even consider finding someone else. Yet, he slowly started to annoy the hell out of me because even our telephone conversations lacked depth and substance and constantly saw his insecurities come to the surface through his sustained probing about whether or not I found another man. So when I went back home to visit him for the first time since migrating, the minute he confessed to cheating, he was not only shocked by my complete indifference but also by the fact that I found the whole thing hilarious. Thinking back on it, I believe I laughed out of sheer relief. I wanted to break up and he gave me the perfect reason.  Needless to say, by the time the visit was over and I was clear across the border, I politely told him ‘deuces’ and gladly continued with my life. Even after several years of breaking up, he still contacts me at least once a year and a few times managed to track me down on Facebook and Whatsapp. Now, there could be a myriad of reasons why men (and women) cheat and while I can appreciate that at times one or both parties are at fault, I will never accept that this is to be expected from men. All men have a choice and the same sense of duty and loyalty that keeps me faithful are the same things he should bear in mind in order to override his baser instincts. If a man cheats but he is generally a very good man and not a chronic womaniser, then it’s worth really exploring the underlying reasons why he became unfaithful. However, if your man is happy to be the local ‘ram’ in the neighbourhood, sharing his bed with anything in a skirt, please don’t delude yourself into thinking that you can change him. Leave while your pride is still intact and before he robs you of the better part of your life.

 

So there you have it. This list has certainly not been exhausted but any one of these factors is enough to convert a relationship into an ordeal. See your partner for who he/she truly is and be honest with yourself as to whether or not you are able to live with their shortcomings. Do not compromise on your own personal values and do not waste your time trying to change anyone. However, most importantly, make sure that whoever comes into your life is a help and not a hindrance, a blessing and not a curse.



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The System Was Built To Keep Us In Debt – Part 2

Student Loans

Student loan.jpg

It wasn’t too long ago that I graduated from university and whilst I appreciate the excellent work that most lecturers do and that my alma mater was stellar in what it provided to its students, the fact still remains that going to university doesn’t guarantee a bright future.  As a matter of fact, it is criminal how so many jobs demand that you have the minimum of a Bachelor’s degree when that is never enough for you to find an entry level job in your field. Therefore, you are faced with the prospect of either racking up even more debt in order to secure your Masters or working in jobs that could be acquired with a high school diploma. It is also unfair that after 3 – 4 years of arduous studying (for those that even bothered to study hard), in exchange for the piece of paper that validates that we are degree-holders, we are awarded with a debt so big that it’s enough to initiate a start-up business. However, the most cruel joke of all is the fact that many before and after us have proven that you don’t need a degree to be extremely successful. All you need is a dream, what you nurture is your talent and combine that with the tenacity to fight through failures, the will to not concede defeat and some business acumen and you can actually earn thousands in income rather than generate the same in student debt. People may read this and think that only prodigies or the obviously talented are the ones that have such success stories. This is not the case. The problem is that very few care to discover their true potential, let alone be brave enough to tap into it to the extent that it becomes an avenue for income. In this article: http://www.dailymail.co.uk/home/you/article-1301921/Weve-gone-degree-Why-university-longer-passport-success.html there is a celebrity journalist who started to earn £18k only four months after taking a ten-week course in Journalism. There is also a 20-year old mentioned who is currently earning £22k although he only has a diploma in business and an A level in English. These and all the other stories appear to be modest cases of success in comparison to the likes of Steve Jobs and Mark Zuckerberg who are currently earning billions despite being university/college drop-outs. However, what both stories have in common are that NONE of these individuals have student debt.

Is University A Con?

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Considering the number of people who find jobs that are completely unrelated to their degree or find themselves in odd, random jobs after university, it begs the question as to whether or not going to university is just an over-rehearsed rhetoric? If you ask a child what they’d like to be in the future, the answer will most likely be ‘lawyer’ or ‘doctor’. This way of thinking is not only unimaginative but it also ignores the fact that everyone is NOT academically inclined and there are other ways of being a success without having half the emotional and work-related grief of lawyers and doctors. Studying at university is a very expensive undertaking. The debt acquired afterwards doesn’t justify the often humiliating experience of scrambling for jobs which are always in short supply. Furthermore, it is too expensive a gamble to go to university in the hopes that you will eventually discover what you really want to do career-wise. It would be cheaper to go to a palm reader. However, with that being said, the system has been rigged to feed this vicious cycle of debt. Too many jobs are insisting that they want candidates with degrees which feeds into the whole idea that a degree is essential. There are many ways to acquire the relevant skills and experience in your field and since the constant slap in the face for recent graduates is that experience is required for the jobs they seek, then why isn’t the emphasis on this instead? Why isn’t the educational system programmed that if you want to learn a language, instead of labouring for hours in the classroom, you just spend all your semesters in the host country? Why aren’t there more apprenticeships, internships and vocational qualifications that are not only on par with university degrees but can substitute them in every career field? Why should you acquire so much debt from a government who ultimately expects you to reinvest your skills, talents and knowledge back into your country? A degree isn’t proof that a graduate has the common sense, intuitiveness or resourcefulness to do the job. At the very least, all it proves is that they can read and regurgitate what they’ve been taught. Therefore, for university students not engaged in technical fields, why don’t they have the option of doing all the relevant reading from home, each semester, and just show up to the exams on campus when required? Going to university works out brilliantly for those who can actually put their degree to good use. However, for those who don’t?

Big Business For The Government

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Regardless of what happens, one thing remains certain and that’s the fact that the government will always stand to benefit. Here is a very interesting and comprehensive article about the ins and outs of the student loans scheme in the UK (http://www.lrb.co.uk/v37/n05/andrew-mcgettigan/cash-today). In effect, students will bear the brunt of the financial catastrophe caused by greedy bankers through their liability to pay back student loans with interest. The government will attempt to repackage and sell these loans to third parties in exchange for ready cash (so that they can cover their current national debt) while the third parties will profit from the interest students pay. Have a look at the extracts below:

After the election, the coalition awarded the contract for the feasibility study to Rothschild. The higher education White Paper published in summer 2011 stated that the ‘full range of options’ would be considered, ‘including retaining the loans on the government’s books, selling them outright to financial investors, or selling loans to one or more regulated companies set up to manage the loans.’……. The main aims of a sale, from the government’s perspective, were to reduce its exposure to the risk of non-repayment, and to lower national debt.

We were told that the value for money of a sale would depend on a comparison of how much purchasers are willing to pay against an estimate of what the loans are worth……..

Higher education is devolved in the UK. The Department of Business, Innovation and Skills is responsible only for English universities and colleges. The administrations of Scotland, Wales and Northern Ireland have different policies on tuition fees. Scotland, for example, charges no fees to Scottish or EU students: those from the rest of the UK are charged £9000.

The figure put on the national debt is obtained by adding up the nation’s liabilities – money owed – and subtracting the value of the assets owned. The net amount is ‘public sector net debt’. The government borrows to create student loans, but the loan is an asset…….

Here is another article which speaks to the effects of student loans on American students (http://www.cnbc.com/2015/06/15/the-high-economic-and-social-costs-of-student-loan-debt.html) with the following extracts:

Men and women laboring under student debt “are postponing marriage, childbearing and home purchases, and…pretty evidently limiting the percentage of young people who start a business or try to do something entrepreneurial,” said Mitch Daniels, president of Purdue University and the former Republican governor of Indiana. “Every citizen and taxpayer should be concerned about it.

You wind up disadvantaged just as you begin. It has reduced the ability of our educational system to be a force for upward mobility, and for an equitable chance at upward mobility,” said Melinda Lewis, associate professor of the practice at the University of Kansas School of Social Welfare. “It is still true that you are better positioned if you go to college, but you are not as much better positioned if you have to go to college with debt.

There is also the matter of “credentialism,” the trend in many professions to screen for ever higher qualifications for jobs that may not require them. A 2014 study by Burning Glass, a labor analytics firm, found that 42 percent of management job holders had bachelor’s degrees, but 68 percent of job postings required them. In computer and mathematical jobs, 39 percent of employees had bachelor’s degrees, but 60 percent of job listings called for them.

Studying at university has become a commodity. While we rack up debt under the notion that our studies will somehow create a brighter future, the powers that be use our debt for either financial leverage or profit.

 Look out for the third and final part of this discussion. Don’t forget to share your views, give feedback or leave a comment.



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The System Was Built to Keep You In Debt

Debt Concept

I believe that this ‘system’ was built to keep us in debt and it patiently but intuitively waits to capitalise on either our insane vanity for things, our belief that the system will play fair or those personal plights that will land us in some financial predicament. Take a look at the following insights:

Credit Cards

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There was a time when the only bill I worried about was my rent and monthly food expense. Everything else was pretty much my disposable income. This meant that I could travel multiple times a year, save a lot, partake in the occasional healthy dose of retail therapy and still not worry about going into my overdraft. I was living ‘la vida loca’. One day I was offered to take out a store credit card after spending a whopping £500. The store attendant was giddy with excitement and I was flattered. The relevant checks were run by the credit card company which ultimately declined my application on grounds that were never really made clear to me. I was naturally shocked since I’ve never been declared bankrupt or defaulted on any loans (I stayed clear of these) and have always paid for every single item I’ve bought, up-front and in full. Then someone told me – the fact that I didn’t have a credit history was just as bad as having a history of missed payments or bad debts because the companies were unable to determine how reliable I would be with their money. That’s when I considered ‘But why do I need a credit card to prove that I’m trustworthy with money?’ ‘Why do I need to acquire a debt just to prove that I can pay my way out of it?’ As a result, I shrugged off the notion of getting a credit card, saying it was all a well-devised trap. However, I thought seriously about it again, late last year, once I discovered that you would need some form of credit history to even be considered for a mortgage. Now here are some things you should know about credit cards:

It’s About Making Profit

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The companies providing credit cards don’t do it out of the goodness of their hearts. Like everything else, the ultimate goal is to make money. Credit card companies are counting on the fact that you will never have enough disposable income to cover all your expenses or that you have a tendency to live above your means or that you will some day run into financial difficulty. That way, you will be liable to pay the interest on the amount borrowed which is how they make their profit. Even from the very popular website – Money Saving Expert – the following was acknowledged:

Credit card companies may reject you for always repaying cards in full.

You might feel like a dream punter, but for credit card companies you’re a nightmare. If they spot this trend, you could be rejected. The most profitable customers are those perpetually in debt, never defaulting, but always meeting the minimum repayment.

Pay off in full every month, don’t use your cards enough, or always shift debt to 0% cards, and if they can spot you (it isn’t always that easy), a few may reject you.

(http://www.moneysavingexpert.com/loans/credit-rating-credit-score)

 

 

Furthermore, there are several ways that credit card companies lure you into the trap of overspending. It usually provides you with a credit limit that is often greater than your actual debit account balance and some come loaded with certain incentives which can only be accessed through more spending. However, most importantly, have you ever noticed how the minimum payment is always automatically set at an amount that usually doesn’t allow you to pay off the balance owing within the interest free period granted? I have seen someone put £2000 worth of expenditure on their card, be automatically assigned the minimum payment of £45 each month while being granted an interest free period of up to two years. Two years seems like a long time and £45 is a drop in the bucket. However, with £45 per month, it will take more than 3 years to pay off this debt. This means, after two years, you will be paying the remainder of this debt plus the interest (and that doesn’t include any other additional expenditure on the card since then). As a result the credit card companies capitalise on our complacency and ignorance and reap significant rewards in the process (http://www.investinganswers.com/personal-finance/debt-bankruptcy/ugly-truth-about-credit-card-debt-4039).

 

Note also how credit card companies have taken an active interest in students. When I did an online search on student credit cards, there were endless pages of options to choose from. Now on the surface, it would seem decent that these companies are extending credit to students given the fact that they are most likely to run out of funds before the semester is through. Therefore, a little credit to keep them afloat is only fair, right? However, the more financially astute among us know that students through their naive, carefree and generally irresponsible nature represent the perfect market for profit generation since they are more likely to just make minimum payments and rack up ongoing, high interests. This leads me to my next point….

 

Look out for the second part of this discussion. Share your views, leave some feedback and don’t be afraid to share!



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