Guest Big H Posted October 7, 2008 Posted October 7, 2008 Bank and insurance companies.....two of the greatest evils of the modern world That is the truth. Theft with a licence!! Bad experience?Mmm....they claim to have my best interest(pun not intended) at heart but encourage me to extend the term of my bond from 15 to 25 years because that will save me several hundred rands a month in repayments.How many suckers fall for this' date=' not realizing that at the end of the term they'll have paid several hundred thousand rands extra in interest...?[/quote'] EM always says that the banks hand out umbrellas when the sun is shining but take them back when it starts raining!!!!!!!! Insurance companies I will not even talk about ....... took a RA from Sanlam in 1993 with some pension money when I switched jobs. "Oom Otto" (his childeren now inherited all the munny he made from me) and Sanlam promised me R1,23 million when I retire at 65. The latest statement from Sanlam shows that it will be less than R250 000-00. Today I can have the money paid out...... and I will, and spend it on all things nice..... new RC helicopter (and lots of spares), new wheelset for the tandem and other bling.
Evan Andreou Posted October 7, 2008 Posted October 7, 2008 Bank and insurance companies.....two of the greatest evils of the modern world That is the truth. Theft with a licence!! Bad experience?Mmm....they claim to have my best interest(pun not intended) at heart but encourage me to extend the term of my bond from 15 to 25 years because that will save me several hundred rands a month in repayments.How many suckers fall for this' date=' not realizing that at the end of the term they'll have paid several hundred thousand rands extra in interest...?[/quote'] It is all about affordability and wants:We wants but we cant afford, we then take long repayments which boost our monthly cashflow and allow us the wants. The future seems so far away at the time. Similar concept to people who buy cars with hefty residuals
bruce Posted October 7, 2008 Posted October 7, 2008 Synchronised rate cuts - sounds like price fixing to me' date=' I think we should complain!!![/quote'] Beofre we complain lets hear what Fritz Pienaar has to say 1st.... Nah, that's not the way we do things here on the hub.. Ready, fire, aim... Since when did the Hub Aim?? I was under the impression they just fired at free will?? Yeah, scratch that, let's change it to... Ready, Fire, Fire, Fire, Fire, Fire, Fire, click, click, click.....
NotSoBigBen Posted October 7, 2008 Posted October 7, 2008 Scoundrels and rip off's. Biting the hand that feeds there perhaps my friend
VincentBikes Posted October 7, 2008 Posted October 7, 2008 Hypothetically when you are 40 and you want to work until you are 60 , give or take a few years - you only have 240 paychecks left. Makes you think twice about the wants and the affords.....
Canaris Posted October 7, 2008 Posted October 7, 2008 Synchronised rate cuts - sounds like price fixing to me' date=' I think we should complain!!![/quote'] Beofre we complain lets hear what Fritz Pienaar has to say 1st.... Nah, that's not the way we do things here on the hub.. Ready, fire, aim... Since when did the Hub Aim?? I was under the impression they just fired at free will?? Yeah, scratch that, let's change it to... Ready, Fire, Fire, Fire, Fire, Fire, Fire, click, click, click..... change that to fire, fire, fire, umh ready, oh forget it......
scotty Posted October 7, 2008 Posted October 7, 2008 Scoundrels and rip off's. i'm sure i've seen you in standard bank kit Nothing like misbehaving on the bike while wearing someone elses kit
Evan Andreou Posted October 7, 2008 Posted October 7, 2008 Scoundrels and rip off's. i'm sure i've seen you in standard bank kit Nothing like misbehaving on the bike while wearing someone elses kit Yeah, we all know you work for ABSA
Canaris Posted October 7, 2008 Posted October 7, 2008 Bank and insurance companies.....two of the greatest evils of the modern world That is the truth. Theft with a licence!! Bad experience?Mmm....they claim to have my best interest(pun not intended) at heart but encourage me to extend the term of my bond from 15 to 25 years because that will save me several hundred rands a month in repayments.How many suckers fall for this' date=' not realizing that at the end of the term they'll have paid several hundred thousand rands extra in interest...?[/quote'] It is all about affordability and wants:We wants but we cant afford, we then take long repayments which boost our monthly cashflow and allow us the wants. The future seems so far away at the time. Similar concept to people who buy cars with hefty residuals so now would be a good time to invest in property? (or campagnola groupsets?)
scotty Posted October 7, 2008 Posted October 7, 2008 [ Yeah' date= we all know you work for ABSA[/quote]
Evan Andreou Posted October 7, 2008 Posted October 7, 2008 Bank and insurance companies.....two of the greatest evils of the modern world That is the truth. Theft with a licence!! Bad experience?Mmm....they claim to have my best interest(pun not intended) at heart but encourage me to extend the term of my bond from 15 to 25 years because that will save me several hundred rands a month in repayments.How many suckers fall for this' date=' not realizing that at the end of the term they'll have paid several hundred thousand rands extra in interest...?[/quote'] It is all about affordability and wants:We wants but we cant afford, we then take long repayments which boost our monthly cashflow and allow us the wants. The future seems so far away at the time. Similar concept to people who buy cars with hefty residuals so now would be a good time to invest in property? (or campagnola groupsets?) When there's blood in the streets, you need to be out shopping
Evan Andreou Posted October 7, 2008 Posted October 7, 2008 Property is likely to be slightly more resilient, so a slightly longer time frame may be advisable. If you're looking at something like a property unit trust, go for it now, forget about it for 5 years and you will be smiling
Canaris Posted October 7, 2008 Posted October 7, 2008 wolfie, when are you doing Klapperkop again? (While I have your attention)
Evan Andreou Posted October 7, 2008 Posted October 7, 2008 Probably this afternoon, definitely tomorrow
Canaris Posted October 7, 2008 Posted October 7, 2008 must get my crater cruise numbers today, Sport parade tomorrow (mtb ride). Next week maybe?
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