Who Are You Trying To Impress?

Do you know you can actually rent out name-brand handbags for a week? These bags normally cost $1,000 or higher in the stores. But you too can look rich just by hiring one out by the hour. JUDGMENT: GUILTY OF TEETH BLACKENING.

Banks over the last thirty years have become extremely fast and loose with who they'll lend money to for a home loan. Back in the 1970s you practically had to beg to get approval and you needed a huge deposit. But what's scary is how much they will lend you versus how much you earn. In fact in our studies, banks will lend you up to 65% of your weekly pay. This means your minimum payment to the bank each week is 65 cents in every dollar you earn, allowing you to purchase a house in a great suburb, with four bedrooms and all the mod cons. But living inside the house you are eating two minute noodles for breakfast, lunch and dinner because this is all you can afford after your home loan is paid for each week. Once again, looking rich to the people who walk by the house, but no real money in your bank account. JUDGMENT: GUILTY OF TEETH BLACKENING.

Loaning a luxury car might be cheaper each week than purchasing, but anyone with a calculator can easily work out it is not good long term. Both BMW and Mercedes offer loaning options for these types of cars. It allows someone who can't afford the car outright or via a car loan to have access to a new car for three years. Our advice is if you can't afford it outright then you are living above your means. And loaning the car is only trying to impress people who don't really care that much anyway. JUDGMENT: GUILTY OF TEETH BLACKENING.

Back when credit cards first came out the gold cards were reserved only for the truly well-off people. However as time has gone by, gold card restrictions have relaxed. Now, people earning under $40,000 can get one. While this might look good to the person serving you behind the counter, gold cards generally come with a much higher yearly fee. And in some cases they even come with a higher interest rate compared to regular cards. To add insult to injury, they offer you a higher credit limit, allowing you more temptation on purchasing items. If a bank offers you a gold card, and your first thought is "wow I didn't think I would be able to get a gold card", then stop! This is a great indication that you probably shouldn't have one. People who get them are just trying to look rich to outsiders. JUDGMENT: GUILTY OF TEETH BLACKENING.

So to sum up, why not think about the items you own? Are you trying to look rich and in turn, doing damage to your bank account? Most people who try to look rich ultimately only achieve the opposite to this goal.