![\"credit](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/credit-35165_640.png\")
<\/a><\/div>\n<\/p>\n
Is It Me?<\/span><\/h2>\nIs it me, or are the\u00a0TV adverts\u00a0full of\u00a0promotions for this car, and that car, and the other car… or the WeSellAnyCarAtAnyPrice<\/em> car-sales-type companies.<\/span><\/span><\/p>\n <\/p>\n![\"Car](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/woman-160342_640.jpg\")
<\/a>“Buy a nice new car… with borrowed money.”<\/figcaption><\/figure>\n\u00a0<\/span><\/div>\n…each one encouraging you to take out a loan!<\/span><\/div>\n\u00a0<\/span><\/div>\nA LOAN for goodness sake!<\/span><\/div>\n\u00a0<\/span><\/div>\nFor a product\u00a0that will depreciate faster than you can drive it off the forecourt.<\/span><\/div>\n\u00a0<\/span><\/div>\nLoans Versus Loans<\/span><\/h2>\n\nA scheduled TV programme ran an article on car sales.<\/span><\/p>\n\nIt compared the cost of taking out a particular car company’s loan with a bank loan.<\/span><\/p>\nCompared one sort of loan… with another loan.<\/span><\/p>\nIt’s like comparing a potato… with a potato!<\/span><\/p>\n![\"Comparing](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/scale-2247161_640.png\")
<\/a>It doesn’t really compare<\/figcaption><\/figure>\nInside I was fuming.<\/span><\/p>\n“Isn’t that the reason the country’s in\u00a0a mess!”, I shouted at the TV …not really expecting a reply …and certainly not ready if it had replied!<\/span><\/p>\nYou see… Call me old-fashioned.<\/span><\/p>\nBut what’s wrong with saving up for something?<\/span><\/p>\n<\/div>\n\n <\/p>\n![\"Saving](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/coins-1015125_640.jpg\")
<\/a>What’s wrong with saving up for something?<\/figcaption><\/figure>\n<\/div>\n\u00a0<\/span><\/div>\nWe seem to have become accustomed to instant gratification.<\/span><\/div>\n\u00a0<\/span><\/div>\n“I need to eat now!” we say as we drive by the\u00a0fast food restaurant.<\/span><\/div>\n\u00a0<\/span><\/div>\n“I want it immediately!” …as we download the Kindle version of the highly anticipated book.<\/span><\/div>\n\u00a0<\/span><\/div>\n“I must have that car right now!” …as we arrange the 22% APR, 5-year loan.<\/span><\/div>\n\u00a0<\/span><\/div>\nBut what’s wrong with waiting<\/em> until we can afford it?\u00a0<\/span><\/div>\n\u00a0<\/span><\/div>\n\n…with saving up<\/em> for it?<\/span><\/p>\n![\"Saving](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/money-2724238_640.jpg\")
<\/a>Watch your savings grow!<\/figcaption><\/figure>\n<\/div>\nThe Wonderful 5 Year Wait<\/span>\u00a0<\/span><\/h2>\nI suppose I was fortunate to get more than 5 years notice when my wife told me she wanted a “posh cruise” for our 25th wedding anniversary.<\/span><\/div>\n\u00a0<\/span><\/div>\nSo after wiping away the sweat, I opened a simple savings account.<\/span><\/div>\n\u00a0<\/span><\/div>\nAnd I drip fed into it every month (by standing order so it didn’t have to rely on my sieve of a memory!).<\/span><\/div>\n\u00a0<\/span><\/div>\nAlthough we had to adjust a little, we got used to the money going\u00a0out of\u00a0the current account each month – and eventually we totally forgot about it.<\/span><\/div>\n <\/p>\n
Until it came time to book our cruise.<\/span><\/div>\n <\/p>\n![\"We](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/Azura-1.jpg\")
<\/a>We saved up and enjoyed a cruise<\/figcaption><\/figure>\n<\/div>\n\n\u00a0<\/span><\/div>\nAnd guess what.<\/span><\/div>\n\u00a0<\/span><\/div>\nThe bank manager had topped it up.\u00a0 We’d gained some extra money for free …some interest on our savings.<\/span><\/div>\n\u00a0<\/span><\/div>\nA nice bit of spending money\u00a0for the holiday!\u00a0 All for free!<\/span><\/div>\n\u00a0<\/span><\/div>\nNow that’s much better than taking out a loan, with\u00a0us having to pay lots of interest to the bank!<\/span><\/div>\n\u00a0<\/span><\/div>\nThe bank paid\u00a0us instead!<\/span><\/div>\n <\/p>\n![\"The](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/vault-154023_640.png\")
<\/a>The bank paid us<\/em>!<\/figcaption><\/figure>\n<\/div>\n\n\u00a0<\/span><\/div>\nAnd there’s another sobering thought which has just dawned on me…<\/span><\/div>\n <\/p>\n
It’s this…<\/span><\/div>\n\u00a0<\/span><\/div>\nIf we’d gone for this instant gratification thing and had taken out a loan for the cruise<\/span><\/div>\n\u00a0<\/span><\/div>\n…or even worse, if we’d put it on the credit card<\/span><\/div>\n\u00a0<\/span><\/div>\n…we’d still be paying it off now!<\/span><\/div>\n\u00a0<\/span><\/div>\n\n![\"paying](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/no-money-2070384_640.jpg\")
<\/a>We’d still be paying off the loan<\/figcaption><\/figure>\n<\/div>\nHang on a minute!<\/span><\/h2>\n\u00a0<\/span><\/div>\nActually… No, we’d probably still be paying off only the interest<\/em> at this stage.<\/span><\/div>\n\u00a0<\/span><\/div>\nWhat an anti-climax!<\/span><\/div>\n\u00a0<\/span><\/div>\n2 weeks of fun…<\/span><\/div>\n\u00a0<\/span><\/div>\nIn exchange for a lifetime of debt.<\/span><\/div>\n\u00a0<\/span><\/div>\nSo I think you can understand why I get a little cross when we’re bombarded from behind our TV screens with the instant gratification messages…<\/span><\/div>\n\u00a0<\/span><\/div>\nMaking the loan companies rich, and throwing people’s hard-earned money at the wasteful banks.<\/span><\/div>\n\u00a0<\/span><\/div>\nSad, eh?<\/span><\/div>\n<\/p>\n
But…<\/span><\/h2>\n\n\u00a0<\/span><\/div>\nBut on the other hand, perhaps I should keep it a secret.<\/span><\/div>\n\u00a0<\/span><\/div>\nAfter all, who would have\u00a0given us the free spending money\u00a0– if the banks hadn’t had all that money pouring in from those massive loan interest payments?<\/span><\/div>\n\u00a0<\/span><\/div>\nHmmm… <\/span><\/div>\n<\/p>\n
On second thoughts ….shhh!<\/span><\/div>\n\u00a0<\/span><\/div>\nPretend I never mentioned it!<\/span><\/div>\n<\/div>\n![\"Top](\"http:\/\/davidwithington.com\/wp-content\/uploads\/2017\/09\/top-secret-2054429_640.png\")
<\/a><\/div>\nOver To You<\/span><\/h2>\n <\/p>\n
So what’s your financial secret? <\/span><\/div>\n <\/p>\n
Go on… you can share it. <\/span><\/div>\n <\/p>\n
Pop it into the comment box below and let’s keep the conversation going…<\/span><\/div>\n <\/p>\n
P.S.<\/strong> Here<\/a><\/span> you can see lots more about our that very first cruise we saved up for<\/a>.\u00a0<\/span><\/div>\n <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
\u00a0 I’ve got a bee in my bonnet! \u00a0 A bit of indignation… that sort of thing. \u00a0 “Why?\u00a0 What’s up David?” \u00a0 It’s the TV Ads. \u00a0 “What?”\u00a0 I hear you asking\u00a0with an\u00a0incredulous gasp! \u00a0 Let me explain…\u00a0 Is It Me? Is it me, or are the\u00a0TV adverts\u00a0full of\u00a0promotions for this car, […]<\/p>\n","protected":false},"author":1,"featured_media":1919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[194,99,3],"tags":[38,29,26,27,43,31,261],"class_list":{"0":"post-1918","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-comparisons","8":"category-how-to","9":"category-real-life","10":"tag-car-loan","11":"tag-cruise","12":"tag-loan","13":"tag-loans","14":"tag-money","15":"tag-saving","16":"tag-savings","17":"entry"},"yoast_head":"\n
Why I Hate Loan Companies - But Secretly Love Them - David Withington<\/title>\n<meta name=\"description\" content=\"How not to get caught up in the constant push to get a loan. How you can beat the banks at their own game and make money from them instead. Simply do...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/davidwithington.com\/hate-loan-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why I Hate Loan Companies - But Secretly Love Them - David Withington\" \/>\n<meta property=\"og:description\" content=\"How not to get caught up in the constant push to get a loan. How you can beat the banks at their own game and make money from them instead. 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<\/p>\n A scheduled TV programme ran an article on car sales.<\/span><\/p>\n It compared the cost of taking out a particular car company’s loan with a bank loan.<\/span><\/p>\n Compared one sort of loan… with another loan.<\/span><\/p>\n It’s like comparing a potato… with a potato!<\/span><\/p>\n Inside I was fuming.<\/span><\/p>\n “Isn’t that the reason the country’s in\u00a0a mess!”, I shouted at the TV …not really expecting a reply …and certainly not ready if it had replied!<\/span><\/p>\n You see… Call me old-fashioned.<\/span><\/p>\n But what’s wrong with saving up for something?<\/span><\/p>\n<\/div>\n <\/p>\n …with saving up<\/em> for it?<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" \u00a0 I’ve got a bee in my bonnet! \u00a0 A bit of indignation… that sort of thing. \u00a0 “Why?\u00a0 What’s up David?” \u00a0 It’s the TV Ads. \u00a0 “What?”\u00a0 I hear you asking\u00a0with an\u00a0incredulous gasp! \u00a0 Let me explain…\u00a0 Is It Me? Is it me, or are the\u00a0TV adverts\u00a0full of\u00a0promotions for this car, […]<\/p>\n","protected":false},"author":1,"featured_media":1919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[194,99,3],"tags":[38,29,26,27,43,31,261],"class_list":{"0":"post-1918","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-comparisons","8":"category-how-to","9":"category-real-life","10":"tag-car-loan","11":"tag-cruise","12":"tag-loan","13":"tag-loans","14":"tag-money","15":"tag-saving","16":"tag-savings","17":"entry"},"yoast_head":"\n<\/a>Loans Versus Loans<\/span><\/h2>\n
<\/a><\/a><\/a>The Wonderful 5 Year Wait<\/span>\u00a0<\/span><\/h2>\n
<\/a><\/a><\/a>Hang on a minute!<\/span><\/h2>\n
But…<\/span><\/h2>\n
<\/a><\/div>\nOver To You<\/span><\/h2>\n