I am planning on buying a two wheeler. Is it better to go for a loan or to use cash?
Hi,I have listed down few pros and cons to know before buying a 2wheeler on cash or loan. Pros:No Interest Rates: The biggest pro of paying cash foryour bike is that you won’t have to pay any interest rates Pay the Exact Price: When you pay cash for your bikeyou know exactly how much you’re paying. In contrast, when some individualsborrow money to pay for a bike they’ll focus on the monthly payment they’reobligated to pay and whether that monthly amount is affordable, rather thanlooking at the total amount they’ll pay over the life of the loanFlexibility on Insurance Coverage: When you borrowmoney to buy your bike, the loan provider that you got your loan from will havea lien on the bike. As such, you’ll be obligated to maintain a certain level ofinsurance on the bike for as long as you have a loan balance outstanding. Incontrast, if you own your bike outright you’ll be able to choose exactly howmuch coverage to and potentially save money by choosing a lesser amount ofcoverageCons:High Interest Rates. Depending on what’s being offeredby auto manufacturers and local dealers, you may be able to borrow money atvery low rates when purchasing a bike. Even though you’ll be responsible forpaying that interest, being able to make payments over time provides you withgreater financial opportunities because you can put the cash you would haveused to purchase the bike to other uses instead.Using Your Cash Towards Other Priorities: If you payfor your bike over the course of few years, you’ll have more money available –money that you would have to buy cash for the bike – to build upyour emergency savings fund or to pay down any higher interest debtyou may have.Greater Selection: If you decide that you wantto pay cash for your new automobile, you might find yourself limitedin your choices. Depending on your budget, you might only be able to afford topay cash for a bike that doesn’t quite meet your needs or which will requiregreater maintenance costs over time. Taking out a bike loan shouldn’t be usedas an excuse to buy the most expensive bike possible, of course, but it willgive you greater options. I personally feel getting a car loan would be a better idea.Also, there are not only banks but NBFC also nowadays give your great offersand good interest rates. You can check with Mahindra Financethey offer bike loans at fancy interest rates with minimum documentation. Mostof all homework is a must before getting any loan. Cheers until next time!!!
What happens if a gambler wins more than a casino can afford to pay?
This has happened several times - most notably, to the Thunderbird Casino in Las Vegas. On its opening night in 1948, two craps players won something in the region of $350,000. When they went to cash out, the casino couldn’t cover it. They emptied every cash register, every slot machine and the wallets of the two owners, Marion Hicks and (Nevada Lieutenant Governor) Clifford Jones, and still came up short by tens of thousands. So they called a friend - mobster Meyer Lansky, whom they knew because Lansky had helped them out with a $160,000 construction loan. Within a few days, Hicks and Jones were able to pay off their debt, but they gave up the casino in exchange. In 1950 Jones testified to a congressional commission that he only held 11% of the stock, not 50%, and had made no money from it since the day it opened.Nowadays, regulations require that a casino always has enough liquidity to cover any potential payout. If it can’t demonstrate that it has enough funds put aside, it loses its license.
Why do people go out to eat at restaurants alone? If you do, do you feel uncomfortable?
“Do you feel uncomfortable?”Absolutely not."A thief believes everybody steals” is a great quote that demonstrates how people tend to project their internal character and motives onto other people. You see the person sitting alone at a restaurant as a “loser” and “loner”. You think other customers share your same opinion which makes the thought of eating at a restaurant alone incredibly uncomfortable for you- they’ll all see what a loser you must be, right?Stop caring so much what strangers think.Stop assuming that everyone else thinks exactly like you do.Stop being so judgmental.“Why do people go out to eat at restaurants alone?”Because they want the convenience or taste of a cooked meal. For me personally, it’s often times simply a matter of getting out of the house. Working from home all day can get pretty claustrophobic feeling by the end of 8–10 hours. When you’re an introvert, going out with friends is not how one chooses to destress, even if you adore said friends to death. The gym, a long drive, walking in the park, or other various solo activities are great ways for me to decompress- to shake off feeling “like butter scraped over too much bread.”. Going out to a restaurant alone is great! I can stay self-absorbed in my book or phone yet still fulfill the evolutionary, primate-desire to be around similar creatures in the tribe. Not to mention eating a great meal that I didn't have to cook :)