Thursday, August 14, 2008

Pay Now or Pay More Later

Posted by Tracy Wainwright at 3:26 PM
We live in a society of having the option to pay now or pay later for most things. Generally, we are encouraged to pay later – use your credit card, it’s so much easier; buy now, pay nothing until 2020 (okay, may not that far away), etc, etc, etc. Although the concept of getting what we want and not paying for it until later sounds great, what many people don’t realize is that when you eventually do pay, you will pay much more than the original cost of whatever it was you just couldn’t have to wait. At an interest rate of 18% or 36% it doesn’t take long for $300 to become $1000. And the larger the purchase, the greater the interest you’ll end up paying. But because we pay just a little at a time, it doesn’t seem that bad. Or, we’ve already made that choice, so we just have to suck it up and deal with it.

It’s usually taking the easy route that gets us into a big mess. It makes us feel good or makes things a little bit easier for us. This philosophy of pay now or pay later also works in many other areas of our lives. The cost, however, is often much higher than we want to pay. If we pay attention to the small print up front, we would never take the easy route. But like the small print on a contract or a credit agreement, we often choose to ignore it. That’s how we get ourselves into unhealthy, unbearable, and ungodly situations. In finances, in parenting, in health, in relationships and in spiritual growth we will pay now or we will pay later.

0 comments on "Pay Now or Pay More Later"

Thursday, August 14, 2008

Pay Now or Pay More Later

We live in a society of having the option to pay now or pay later for most things. Generally, we are encouraged to pay later – use your credit card, it’s so much easier; buy now, pay nothing until 2020 (okay, may not that far away), etc, etc, etc. Although the concept of getting what we want and not paying for it until later sounds great, what many people don’t realize is that when you eventually do pay, you will pay much more than the original cost of whatever it was you just couldn’t have to wait. At an interest rate of 18% or 36% it doesn’t take long for $300 to become $1000. And the larger the purchase, the greater the interest you’ll end up paying. But because we pay just a little at a time, it doesn’t seem that bad. Or, we’ve already made that choice, so we just have to suck it up and deal with it.

It’s usually taking the easy route that gets us into a big mess. It makes us feel good or makes things a little bit easier for us. This philosophy of pay now or pay later also works in many other areas of our lives. The cost, however, is often much higher than we want to pay. If we pay attention to the small print up front, we would never take the easy route. But like the small print on a contract or a credit agreement, we often choose to ignore it. That’s how we get ourselves into unhealthy, unbearable, and ungodly situations. In finances, in parenting, in health, in relationships and in spiritual growth we will pay now or we will pay later.

0 comments:

 

themommyanswer Copyright © 2009 Paper Girl is Designed by Ipietoon Sponsored by Online Business Journal