As investors, we know that businesses that take cash from customers and enjoy credit terms from their suppliers are in a very good place.
Get paid now but pay vendors much later? Wow! This is one reason why Walmart is a good business, right?
When we go to a supermarket, we don't get to leave the place with the stuff we want unless we pay for it. Of course, we can pay with a credit card to enjoy some shopping benefits but it is essentially a case of "no pay, no take".
When we see a very good deal on something that we consume often, we could buy a lot more to save money. Instead of buying one, we buy more. That makes many of us happy!
If the supermarket told you that you could buy more of a special deal item but you could only collect one now and the rest on a monthly basis in future, would you bite?
Then, what about this?
|I shared this on my FB wall 2 days ago.|
It happened earlier this year.
I actually told the California Fitness salesman that I didn't mind paying on a monthly basis but a lump sum payment for a 3 years membership?
Sorry, not interested.
Saving money with good deals is common sense? I must be stupid not to take up the offer.
I was adamant.
I could tell that the salesman was disgusted.
AK was such a disgusting customer.
Disgusting and heng ah!
Remember, saving money with good deals is common sense but paying in advance and in full to get good deals is not as sensible.
California Fitness is not the first example and it won't be the last one either.
1. 6 points in response to an expensive lesson.
2. Nobody cares more about our money...