Johnny completed by a local private university with a Bachelor degree. Over 4 years of university life, which has a study with the World Bank loan borrowed to pay tuition fees. He spent every extra dollar that a party with friends, to purchase up to electronic devices, videogames date and leisure travel. He closed with a total of 80 thousand dollars in debt.
Immediately after the first job interview successfully, Johnny was happy for his first store new car. His father would have paid20% down, with the understanding that his son would need the car for work and his father thought that a good idea to get him started walking. Johnny visits to Japan cost model up to 70 thousand dollars. He only needs to pay up to $ 1000 per month salary from his new job of $ 2500. Finally, he paid his father from U.S. $ 14,000.
Since Johnny was working away from home, had to rent a place to stay. He rented a small unit of 2 apartments for $ 600. Privacy is very important to him so that he neverexpected to share the apartment with others.
Working life is busy for Johnny. He worked 8 to 10 hours a day 9-6, 7 or 8 times after work, he would eat with his friend for a long time, chatting for an hour or two. Most of the time went with his friend a happy hour until midnight.
Johnny had to force a couple of credit cards when you merge your work. Banks love to give credit to graduate. For the first time Johnny felt his life as he could be saved for the purchasewhatever he wanted. He was only required to pay the minimum. So he went to every big and small sale. He especially liked those UK/US imported clothes and shoes brands that cost a few times more than the other local brands. Besides, he felt it's time to buy himself a real gift as he has been working hard for his life. So he bought the 42-inches plasma TV and PS3 set. He felt very grateful as there is a thing call installment so now he only needs to pay $200 per month for next 24 months. Thanks to his financial intelligent, he didn't need to max out his credit card limit yet.
Johnny did great job in his company and his manager gave him pay raise almost every year. Two years down the road, he earned more than double from what he used to earn in the beginning. Then he thought it was time for him to invest in his first house. So he got himself a nice 3-bedroom, big balcony condominium unit near the rich area, he put his entire bonus money earned as down payment. He was officially a Homeowners now.
When he arrived for the first time his house key, he excitedly contacted some companies and interior designers to discuss renovation of houses. Borrowed personal loan for the renovation to be done, so there is no need to touch, for their salvation. He would only buy the furniture for the store in his house, recently renovated. IKEA furniture would be ideal, because it is too expensive, but tastefully decorated. He spent his savings on the acquisition of furniture, such as sofas, beds, lighting, wardrobe,Full range of kitchen furniture and equipment. He has never cooked. Well, I would get his friends and have drinks and meet once in a while 'because it has a very comfortable home.
Most residents and Johnny trained professionals, doctors, architects, accountants and engineers. He felt the place with his 6-year-old car park Toyota Vios in the past between the Europeans and luxury models. He exchanged the latest HondaAccord.
From its perceived status, accepted only the banks and offered him the privileges of Platinum credit card. Has some cards of the same color in his portfolio. He paid up to thousands in annual dues per year. Ate in expensive restaurants, he thought it would be superior to its status and taste, the restaurant where he proposed to his friends. He uses only the more expensive products from the shelves of food, as he believed that the price reflects the quality of the product, which was also theRecognized the value of things. He paid for the entries received in the gym, even if he has found time for his job every day, and he to work only twice a month. He also pays a few thousand dollars a year for membership to a golf club held. He loves to bring his friends to the area once every two weeks.
Johnny apart from a few thousand dollars for a hot investment, of his friend, who convinced as agents of investment. MutualFunds later became cold like being under water. Johnny never cared more about him. Up and down, burned some 'money from trading on the Stock Exchange, as he informed his friend with him, by some so called hot tips from insiders. Gave them to invest, he discovered that it is too risky, or thought it was just unlucky enough to invest. When one of his friends, has always wanted to talk, to invest, to buy a bag.
Johnny said to keep working hard, had to pay the debts, itsHome loans, personal loans, student loans, credit cards, bank fees, annual insurance, club membership, invoices and other payments. Certainly save a few thousand dollars in the bank for emergency purposes. He began to notice that he can not get into a position for its current high-consumption lifestyles continue with its current revenues, which has fought hard for the promotion, hoping that one day could become debt free and rich.
- The End --
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