Avoid Being In-DEBTed This Ramadhan

We’re finally in the month of July and for Muslims all over the world, the fasting month of Ramadhan is fast approaching, it being at the end of the month whereby Muslims will be required to fast for the next one month.

In the lead up to the joyous festivities, Aidilfitri, which is the celebration of the end of Ramadhan, it also entails Muslims around the world buying new clothes and for some, furniture and household equipment to spruce up the home – in short, a complete makeover to celebrate Aidilfitri.

During the period now to Aidilfitri, most Muslims in Singapore are also coincidentally Malays will be motivated to make new purchases that they may or may not require. This motivation is further accentuated by popular local faces who front the advertisement campaigns and endorse companies and/or product and services who entice the ever-popular and easily-deceived Malay community into making unnecessary purchases which will eventually put them into a situation of debt.

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Mounting Debt

My opinion may not be supported by many or may be incorrect for that matter but the possibility of such a situation whereby a family is heavily mired in debt  is REAL and not merely REEL as depicted in the many drama serials shown on local television.

Malays are not the only ones who are susceptible to such a situation but in light of the next big celebration to hit the Singapore community, Hari Raya Aidilfitri in August, the targeted demographics at the moment would be the Malay-Muslim community as the advertisements are often repeated and shown on prime time slots on the local Malay television channel, Suria.

It is not the fault of the television channel or the broadcasting company, MediaCorp as it is their sole purpose to generate income through sales of advertising slots nor is it the fault of the companies who offer such discounts and promotions because they are mere opportunists nor is it the fault of the popular faces who endorse or appear on such campaigns because they are trying to earn a living through such endorsements/advertisements.

So who’s fault is it then?

This is indeed a sticky situation but definitely one that wouldn’t leave a good taste in your mouth especially if you end up in debt after making such unnecessary purchases but if you did indeed end up in debt, you’d probably blame the popular faces who act out convincingly that you could own the items first before making any immediate payments (Pakai Dulu, Bayar Kemudian) or the ability for you to buy 1 item and receive 3 free through a system called Flexi Finance or that you’re able to pawn your valuable gold and/or other valuable items for fast cash at good values, FIRST.

Once you’re done hating the popular faces and you come to a point of realisation, you’d then blame the companies that you purchased from because through your own misdeeds and enthusiasm, you failed to read the fine print that weren’t clearly explained to you by the sales staff who were eager to get you to pen your coveted signature which will earn them the commission they’ve been dying to get.

But even after that, you’d realise that it’s not enough because you can’t be angry with the popular faces nor can you be angry with the companies you made your purchases from because they are for-profit companies. Henceforth, you turn your anger towards your last few option(s) left – the one who convinced you to make the purchase in which case, would either usually be your spouse if you are easily taken in or yourself if you’ve really come to realization.

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Love Debt

For most people who probably have an ego too big to swallow, you’d blame the one who convinced you to make the purchases – YOUR SPOUSE. Your arguments would go late into the night as you mull over how you’re going to use your next salary to tide over the month with the many 0% interest installments that you now have to pay and you contemplate either selling some items to Cash Converter or to some other retail outlet which will give you fast cash at the best price!

You then use the money to pay off the installments and when you’re done with the payments, you notice that you are poorer and you still never owned the item that you purchased in the first place.

However, if you had come to the point of blaming yourself for failing to recognise the impending struggle and challenge that you will face, then you jolly well deserve it because you were blinded from noticing what you can afford. You will, hopefully, grow out of the situation wiser.

To conclude, if you are really tempted by the many promotions and offers, do consider your ability to afford such purchases and this requires some mathematical calculations. Emotional purchases have always caused more regret than joy and if you are a spouse to someone, do consider your current financial health and avoid lucrative spending.

If you feel like you need it, then you don’t buy.

If you feel like you want it, then you don’t buy.

If you feel it, then walk away or be prepared to say good bye (to your money and item, probably).

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Be Debt Free

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