Insurance & Credit Cards

Nowadays, regardless of shopping center or bus interchange, we can see a lot of personals approaching potential customers to encourage them to sign up. They will always dressed decently arming with a stack of survey cum contact forms with a company name card hanging around their necks. It leads me to remember one occasion on this.

I remember the day before I was enlisted, I was approach by one similar personnel. At that time I was idling in the White Sands Shopping Mall with my Mom just hours before my enlistment. These personnel mentioned that she wish to do a short survey on financial management and hence I decided to do it since I still got some time. I didn't think much about listing down my particulars at that time, as it seems nothing more than just a normal survey.

Days before I pass out from BMT, I received a call from a lady from AIA. She asked me whether I am free to meet out so that she can speak to me more on financial management. At that time I already have interest in insurance and investments but my parents were still against it coz I have yet to start work officially.

So I met up with my agent and she shared with me all the policy AIA had. I took up the lifetime saving plan policy since it was good to start early. Luckily she calculated the premiums based on my recruit pay which at that time was $350 per month. So I am paying the minimum of all minimum. It had been 2 years since I took up the policy and I feel it was good coz if I put all the money in the bank, I will tend to spent more.

Nowadays, they approach anyone from housewife to professional coz it is no longer use to be a luxury item used to target the rich. It is more like protecting yourself as well as planning for the future. But taking up credit card would be a bit more risky than insurance coz many banks offer different benefits and customers use to sign up a lot so that they can enjoy different benefits offered by banks.

I not against signing up credit card coz I don't mind having one in the future but signing up to many will tend to led to overspending as you don't really see the cash till you receive your bills chasing you for the payment. By then some already realize that they have spent out of their salary. Some sign up even more so that they can cover the payments for the other credit cards. This will lead to bankrupt as they are forever on credit. Interest for late payment can be very high and their friendliness image will change when they ask them for payments. Nearly everyone can have a credit card as the requirement are more relaxed than those days, a minimum sum of money in the bank and a decent job will allow you to have one.

Careful planning on your financial is very important. All the temptation out there can make you a winner or loser depending how you use it. If you have been constantly ignoring them, it is time to spend some time to listen to them regardless of insurance or credit card. It doesn't mean that you need to sign up but instead you understand how insurance and credit card actually work and it is a knowledge gain indeed. Once you signed up any policy, it is always good to follow up so that you remember the policy terms and condition as well as the payments that you have make.

Well, for me, I have already start planning for the future, it is always not too late to plan for the future. Why wait, start now.

P.S. I am not a financial agent or helping my friend sell insurance. My passion is still in the computer world. Haha.