Thank God For The Credit Card Companies, Pawnshop Operators and Loan Sharks

Too much negativity have been said about the credit card companies, pawnshops operators, loan sharks and all kinds of money lenders all because of their practice of imposing huge interest rates giving the impression that they were taking undue advantage of the vulnerability of those who were financially desperate to avail of their services. 

While it is true that they charge huge interest rates, nobody is being forced to take out loan from them. They have been maligned as deviously preying on those who are in tight financial need. To be honest, I,  for one, have no ill will against these entities. As a matter of fact, I am grateful to have been able to avail of their services numerous times in the past. I came to understand that the reason why I found myself in a tight financial spot is due to my  past decisions and actions which I am fully responsible of. 

People readily avail of the services offered to them, after which they blast them with complaints and negative comments when they realize that they cannot or have difficulty paying back the loan. The manner by which these companies use to seek repayment of the loan may be abhorrent or unjustified but that is beside the point. 

Looking back, the loans I availed via these lending entities have tide me over and helped my family cross over what could have been a disastrous situation due to lack of cash and have kept us afloat until such time that cash started to flow in. 

Some credit card loans we made have caused us anxiety and depression. While some of the loans were used to fund investments and financial endeavors that turned out to be failures, most of them were used to pay for our food and bills. No luxurious or whimsical vice purchases were made which contributed to the good feeling that the loans were well-spent.

The most important effect of my proclivity of taking out loan is that it awakened me to the realization that I was financially ill. It forced me to find ways and means on how to change my money scarcity mentality. It created a burning desire in me to experience the joy of being financially abundant and independent by seeking financial wisdom and formulating definitive action plan for the attainment of my financial goals. Everything is all good now. 

So I say:   Thank God For The Credit Card Companies, Pawnshop Operators and Loan Sharks. I may no longer need your services but I hope that you will help a lot of people the way you have helped me get off my feet towards financial abundance. 

The Illusion Of Money

In the beginning of human economics was the practice of barter system. Goods for goods. Then came the currency or money which actually differ from the coins and bills we use today but it started with commodities  like cowry shells, precious metals, beads, corn, barley, and other things  that were valued and desired by the human population. Next came the coins and bills. Now, credit cards and other form of electronic or digital cash were added into the mix of acceptable currency or medium of exchange.

Did you know that the value we put on any currency is just a pigment of human imagination? Why is it that a 20 US dollar bill has buying power of 40x than that of a 20 Filipino Peso when in truth they may have been manufactured using similar paper and ink materials? Of course, we take into consideration a lot of economic factors which again are based on human standards. Or to make it more simple, why is it that a $20 is more valuable than $10 despite the fact that both are from the same currency made out of similar paper and ink materials that differ only in the design and number printed on them? This is so because we were made to believe that since the one bill was stamped with a higher number, its follows that its value must be higher as well. In other words, we are no longer concern about what material the bill was made out of but on the number printed on it.