You bet, banks and any financial institutions will always stabbed you in the back when you needed help the most. We, the consumers, always presumed that the bankers are on our side but the opposite is true. The bankers are always do the best to earn our money, from RM0.50 ATM withdrawal charges to withdrawing your loan facilities and auction off your properties, etc, it is always about earning.
So, what will the bankers do on the tough time? Go figure out yourself but you can imaging that you monthly installment payments will raised and you may have to sell off your car to cut down on overall installment payments. Also, you may have to declared bankruptcy because unable to meet the credit card 5% minimum payment.
But the DPM just announced that he have told the bank not to withdraw those facilities. Yeah right, they will not withdraw those facilities for the businesses that connected to the government, potential good earning and good fundamental companies. The small unless pricks like you and me are the first one to be cut.
The question is what can you do? I can give you 2 standard answer:
1. Cut down expense
2. Increase Income
Sound like bull sh*t but this is a time to be creative in creating new source of income and also cut back the unnecessary expense.
Soon, I will release list great saving tips and new business ideas.
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