In India, the banking system is still traditional. Yes there is the occasional Lakshmi chit fund and Vini Vic scheme. We all take housing loans, student loans etc. After getting to the US however, I see some of the “advance” (pun intended ) ways in which people can get hold on money. Its about the “right here right now” out here. Its mainstream. Plus, its not even the banks that do this.
1) Title loans – There are tons of ads. Smiley couple needs cash. Sad. Walk into a “title loan” shop and walk out with money, beaming. Anyone can get cash. Instantly. What they omit to tell: They just kept your car as security for a 500 buck loan.
2) Cash into gold – Got broken chains and unwanted gold jewellery at home? (Yeah really they believe jewellery is unwanted). Just send it in an envelope to the automated processing center and they will send cash. Instantly. Almost like its free.
3) Turn a structured settlement or annuity into cash now – Its just simple cash flow discounting to present value with obviously a tidy profit involved. The ads encourage people to get their cash flows (usually from lawsuit settlements) discounted so they can buy their dream home!
4) Cheque discounting – Even Walmart does it. Take a check and get cash immediately for a small fee. Encourages people to not even wait for 2 days that it takes for a cheque to clear.
5) Most shops offer EMI schemes and many many people buy expensive stuff only because of those schemes. Cars, houses? Fine. What about TV, furniture, holidays. Yup all of this.
Financial advancement is great. Deception is not cool. Some of this is taking place in India. Its just not mainstream yet. I really hope it remains that way.
Wednesday, July 8, 2009
I like, I dont like.
I have been tagged by Maanasi to do this. She wonders if I’m alive and breathing these days, seeing that this blog has no updates. So, this is to show her up.
1) I like driving – Even in Bangalore. Especially in Bangalore maybe. I know the traffic sucks yada yada, but secretly, I liked all that alone time I used to get.
2) I like things natural - It may make me look like I just got out of bed, but I’m not cheating anyone. Plus, I’ll never figure what to do with make-up. Its effort I don’t know how to make. Anyway, I NEVER look like I just got out of bed unless I just did or I’m lazy. That happens sometimes.
3) I hate exercising in the gym - I still do it but I hate it. Its boring.
4) I love traveling – That’s all I ever want to do. Go to as many different places as possible. I never get a travelogue done though. Much as I try. It’s the laziness again. I won’t even include that as a separate point.
5) I like to read in the loo. Some may find it disgusting. I like it. In Bangalore it was the daily newspaper. Here, it is Time magazine.
Hmm so far, 4 “I like” and 1 “I hate”. I have to change the equation
6) I hate “girl talk” other than with girls I share a wave length with. Its sooo boring to hear women talk about their daily lives. Unless they want to use humour or say something interesting, I don’t care for it.
7) I like studying. I complain and complain about it when I have to study for exams, but the nerd deep inside loves it best when studying.
8) My latest passion is America bashing and also some “Indians in Amrica” bashing. Got nothing against the country. Noticing a few things and making fun of it makes me feel good. It also makes me mean. But I don’t say anything to anyone’s face. So I’m good right?
9) I love watching programs like CSI and also Medical Detectives and such like. In fact, in my CA exam studying days, I used to allow myself 1 hour everyday to enjoy watching grisly murder stories re-enacted while having lunch. But horror movies? No siree bob. No can do. Hate them and don’t feel silly to say - I get really scared.
10) I love clothes but hate shopping. I will never buy stuff at some discount stores, not because I’m a snob but because I hate sifting through stuff that’s in a heap. If its all nicely put up on a rail, I’m all for looking. I cannot tolerate shopping trips that last more than say 3 hours. Not even at these fancy American outlet malls.
Lets see, now I’ve reached the same number of points as on Maanasi’s list. Just need one more to top her effort. If not content, sheer numbers talk baby!
11) I’m really bad at keeping awake for late nights. I used to be called "8 ‘o clock news" in my childhood for my penchant to quickly drift off to sleep soon as the anchor came on. No much has changed today. Ok, its not 8 pm anymore. But its certainly not all night or even close.
1) I like driving – Even in Bangalore. Especially in Bangalore maybe. I know the traffic sucks yada yada, but secretly, I liked all that alone time I used to get.
2) I like things natural - It may make me look like I just got out of bed, but I’m not cheating anyone. Plus, I’ll never figure what to do with make-up. Its effort I don’t know how to make. Anyway, I NEVER look like I just got out of bed unless I just did or I’m lazy. That happens sometimes.
3) I hate exercising in the gym - I still do it but I hate it. Its boring.
4) I love traveling – That’s all I ever want to do. Go to as many different places as possible. I never get a travelogue done though. Much as I try. It’s the laziness again. I won’t even include that as a separate point.
5) I like to read in the loo. Some may find it disgusting. I like it. In Bangalore it was the daily newspaper. Here, it is Time magazine.
Hmm so far, 4 “I like” and 1 “I hate”. I have to change the equation
6) I hate “girl talk” other than with girls I share a wave length with. Its sooo boring to hear women talk about their daily lives. Unless they want to use humour or say something interesting, I don’t care for it.
7) I like studying. I complain and complain about it when I have to study for exams, but the nerd deep inside loves it best when studying.
8) My latest passion is America bashing and also some “Indians in Amrica” bashing. Got nothing against the country. Noticing a few things and making fun of it makes me feel good. It also makes me mean. But I don’t say anything to anyone’s face. So I’m good right?
9) I love watching programs like CSI and also Medical Detectives and such like. In fact, in my CA exam studying days, I used to allow myself 1 hour everyday to enjoy watching grisly murder stories re-enacted while having lunch. But horror movies? No siree bob. No can do. Hate them and don’t feel silly to say - I get really scared.
10) I love clothes but hate shopping. I will never buy stuff at some discount stores, not because I’m a snob but because I hate sifting through stuff that’s in a heap. If its all nicely put up on a rail, I’m all for looking. I cannot tolerate shopping trips that last more than say 3 hours. Not even at these fancy American outlet malls.
Lets see, now I’ve reached the same number of points as on Maanasi’s list. Just need one more to top her effort. If not content, sheer numbers talk baby!
11) I’m really bad at keeping awake for late nights. I used to be called "8 ‘o clock news" in my childhood for my penchant to quickly drift off to sleep soon as the anchor came on. No much has changed today. Ok, its not 8 pm anymore. But its certainly not all night or even close.
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