Photos courtesy of and copyright Free Range Stock, www.freerangestock.com and Chance Agrella
Flipping through the papers, it’s common to see ads offering low interest loans which promise that borrowers will get the cash in hand easily and quickly. It seems like all interested parties need to do, according to the copy in the ad, is to call the number stated.
Not just that, I realised that I’ve been getting telemarketing calls from banks quite frequently. Instead of pushing yet-another-damn-awesome-credit-card-with-unbelievable benefits, their focus seemed to have diverted to promoting easy money loans at “extremely favourable interest rates”. Even when turned down, they continue to persist and suggest that their audience can take up this “irresistible offer” to repay some other loans that he/she may be currently servicing.
Honestly, I’m quite appalled at this. For the wiser crowd, this may just prove to be merely abit of a nuisance to have to constantly refuse and turn down these “great deals”.
But what kind of message are we sending to the younger, more impressionable people?
That money’s easy to come by?
That it’s acceptable to enjoy and spend frivolously now by using borrowed money?
That all they need to do is to just dial that number in the ad and, viola, cash in hand!
This is a worrying trend.
Already more kids are now growing up in increasingly privileged environments, even becoming dubbed as the strawberry generation. Would they be able to withstand the pressure and stress, should we face turbulent economic times?
I’m not all that old, and sometimes, I do question myself – for me and my generation, are we really much better as compared to this “strawberry generation”? It’s really time to do a little soul-searching and reflection.
Going back to the easy money topic, it would be easy to try and address this problem by culling such open money loan ads or cold calls. This, however, would be a really superficial solution. Getting to the root of the problem, it may just be worthwhile to try to educate kids about the value of money right from the start – maybe in school or at home, and impart relevant knowledge and skills in helping them learn to manage their money wisely. Sometimes, I really wished that we had that incorporated into our education early on. It’s an essential skill, ain’t it?