Credit for luxury goods
Not everyone can afford an expensive luxury watch, the latest consumer electronics or the sun shining on the Maldives with the available money. With the help of financing. And so the question arises: is it ok to have luxury on your feet?
Of course, everyone has their own answer to the question. Many will consider it to be in order, while others will claim that you should not buy anything that you cannot afford unless it is urgently necessary. But there should be a little bit of thought behind every opinion.
So we take the luxury vacation mentioned above on a dream island. The cost: several thousand euros per person. An average earner in Germany can rarely afford it without savings. The one who thinks about a loan for such a trip cannot be criticized, especially if it is a special trip. For example, a honeymoon. But what about those who simply dream of it for a long time and then ultimately decide on a loan to finance the dream? Is a single woman, maybe a simple saleswoman at a discounter, judging when she takes a vacation like this, although she otherwise lives very economically? Definitely not. Dreams should be fulfilled. Above all, financing an expensive luxury vacation on credit is perfectly fine if you can pay off the loan until the next vacation, so that the costs do not pile up and you do not fall into debt. For the critics who would say: a sea in Croatia is also a sea, it doesn’t always have to be Maldives – they should swim in the two seas and recognize the differences.
Speaking of debt trap – so as not to get caught in it, you should think twice before deciding on a loan for luxury. As the statistics below show, the number of personal bankruptcies in Germany is high. The majority of the enemies in it simply overestimated themselves when borrowing money and could not repay it. So you don’t have to give up dreams and luxury on pumps, but it is always better to think twice before borrowing money.
Conclusion: Opinions about luxury on pump differ, there are enough people who would never do it in life, and enough those who would be for it. If it is a long-awaited dream and you have no other way but to have it financed by someone else, it should be calculated precisely so as not to come into the situation that you get caught in a debt trap – then the dream could become a nightmare become…