How you buy things and what you buy as a young man determines a great deal of what you will achieve in life. Have you thought about buying anything on credit? Do you still want to do so? If that's the case, take a deep breath and read on.
These are the six things you should never purchase on credit.
1. Gifts for your girlfriend: You don't have to go to the extent of buying presents for your girlfriend on credit if you're in a relationship. Even if you want to impress her, do so in accordance with your income and spending ability. When you want to buy something for her but can't afford it, please don't buy it on credit; instead, look for an alternative.
2. Car: Anyone who studied economics in school would agree with me that the words "needs" and "wants" are not interchangeable. "Car" is merely a "want" and nothing more. It's insane that you'd go so far as to buy a car on credit. What are you thinking? Do you want to spend the rest of your life paying off a 4 million naira car you bought? If you can't afford a car right now, don't take out a loan; instead, learn to buy just what you can afford.
3. Clothes and shoes: Fashion and "show-off" will not support you in any way in the future. If there are things you really want and can't wait to get, don't buy them on credit. Buying clothes on credit will only exacerbate the financial difficulties. Learn to buy just what you can pay for right now, not what you can pay for tomorrow, otherwise you will end up paying off debts for the rest of your life.
4. Expensive wedding : Those planning a wedding in the near future should prepare ahead of time. Just buy what you absolutely need. Using a “Toyota Camry” if you can't afford a “Rolls Royce” for your wedding! You will not be killed. Avoid using credit to purchase all of your wedding necessities; note, you will be the one to pay for it after the wedding. Let me tell you something. You'll be working hard to provide for your family by then. Will you be able to juggle all tasks at the same time?
5. Mobile phone:Buy the one you can afford, or save up to purchase the ones you want. Don't buy a phone on credit with the intention of paying it off later. My Brother, it doesn't matter what kind of phone you have; what matters is how much money you have in your bank account.
6. Drinks: Let one bottle of Heineken suffice if you only have enough money to buy one. Don't even consider purchasing an additional five bottles on credit; that's a no-no. Stay away!
The trick to making money is to be happy. Purchase just what you can afford and discard the rest. You may be able to afford a car tomorrow if you can't afford one today. Avoid taking out credit and remember to spend your money wisely.
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