When the economic situation is severe, more people are short of money. As many people are short of money, all kinds of pits will follow. For example, "the loan is 65,438+10,000 yuan, and the monthly interest rate is three thousandths". Is such news a pit? How to judge whether it is a pit, how to avoid the economic pit in the dark, make rational use of the opportunities encountered, protect your hard-earned money in severe times, and make yourself and your family live better?
The answer is: you need to have some common sense in economics. Compared with those who search Baidu and Tik Tok when encountering problems, if you have systematically studied some basic economic concepts and have basic economic knowledge, then our ability to avoid pits will exceed 99%. I recommend an economics book today and think like an economist. This book is definitely the "small key" for economists to open the door to economics. There are no complicated charts and models, obscure terms and mathematical formulas in this book, but there are 24 interesting and grounded economic problems, such as "Why can't I find a job", "How to tell whether a country is rich or poor" and "Why do some countries spend money to let farmers lie fallow", which are deeply attracted. Reading this book may not be enough to make us become experts in economics, but it is more than enough to help us avoid many economic pits.
For example, the above-mentioned "loan of 65,438+10,000 yuan, with a monthly interest rate of three thousandths" is really a pit. There is a passage in the book that reminds us:
Buy it, it's very cheap!
We often see advertisements claiming that goods are cheaper than competitors' products. In many markets, you will think this is a convincing argument. After all, a can of tomatoes with the same weight is almost the same as another can of tomatoes, especially if they are from the same brand in different stores. But this statement is also questionable. If retailers point out that one product is cheaper than another, customers may suspect that the cheaper product is not so good. They began to feel that they might have been cheated or forced, and they didn't like either. They may buy more expensive products to avoid being cheated, because buying cheaper products will make them look stingy or stingy.
If people think something is more valuable, that is, cheaper than its true value, they will buy it. If a commodity is advertised for special price or price reduction, the cautious attitude in the previous paragraph will disappear. A study by MIT and the University of Chicago shows that? If a product drops from $48 to $40, people are more likely to buy it than the price of $39.
As shoppers, we have little basis when trying to determine the value of a thing; Because of information asymmetry, sellers know far more about their products than we do.
(p 1 17- 1 18)
Now let's analyze the sentence "the loan is 654.38+ten thousand yuan, and the monthly interest rate is three thousandths" according to this passage. In this case, it will generally appear in the loan advertisements of banks or other financial institutions. If everyone is not short of money, this advertisement should have nothing to do with us, but if you are short of money to buy a house or decorate it, you may stop and think, "Is the interest rate so low that it is a good deal?" Or you may think, "Will there be a pit at such a low price? Forget it, don't touch it ... but ... why don't you try it first? "
It is mentioned in the article that if a commodity is quoted directly to 38 yuan, you may not buy it, but if you know that its original price is 48, and now the price is reduced to 40, you will feel that you have picked up 8 yuan, which greatly increases your possibility of buying it. By the same token, we will think so when we see the loan advertisement. If the monthly interest rate is 3‰, the converted annual interest rate is only 3.6%. Compared with the current commercial loan interest (about 5%-6% per year) and provident fund interest (about 3%-4% per year), it is super cost-effective, and your cautious attitude may disappear because of this contrast. If you add that you are in a hurry to use money, plus the endorsement of a lender with official background, then the transaction rate will be high.
At this time, the salesperson may add fuel to the fire: "If the loan is 65,438+10,000 yuan, it will be repaid in five years, that is, 60 installments, and 300 yuan interest will be repaid in each installment, plus the principal 1.667 yuan, you only need to repay 1.967 yuan every month."
How about a loan of 654.38 million yuan, a monthly loan of less than 2,000 yuan and an annual interest rate of only 3.6%? Isn't it exciting? If you sign the IOU, congratulations and welcome into the pit!
In fact, this routine is the same as the recommended advertisements of various credit card installment repayment launched by banks in recent years. Here, you only need to understand two concepts, and it is easy to find the strange place: equal principal and interest and average capital.
When you borrow money from a bank, for example, to repay a mortgage, the bank will ask you how to repay it. Generally, there are two ways: equal principal and interest method (equal monthly repayment) and average capital method (decreasing monthly repayment). Use two pictures to illustrate the difference between these two concepts:
Caption: In the repayment method of equal principal and interest, the total repayment amount of each installment is the same, which is N yuan, but the proportion of principal and interest in each installment is inconsistent. Early interest (dark part) accounts for a high proportion, while principal accounts for a low proportion (white part). Later, with the reduction of the remaining outstanding loans, the interest will be less and less, and the proportion of principal will be higher and higher.
Caption: The repayment method in "Average Capital" is that the principal repaid in each period is the same and fixed at N yuan. Then, because the total amount of outstanding loans in the early stage is relatively high and the interest in the early stage is high, the loan interest will also decrease with the decrease of the principal to be repaid, so the total amount to be repaid will gradually decrease in the future.
After understanding these two concepts, let's look back at "the loan is 654.38+ 10,000 yuan, which will be repaid in 60 installments over five years, with interest of 300 yuan in each installment, and the principal is 654.38+0667 yuan, * * 654.38+0967 yuan". At first glance, this repayment method looks like equal principal and interest repayment, but after careful observation, you will find that this repayment method is different from equal principal and interest. ! However, as time goes on, the unpaid principal of the repayment person will be less and less, and the interest payable should be less and less. If the outstanding principal before the last installment is less than 1700, and the interest of 300 yuan continues to be paid, the interest of this month will be as high as 18%! ! !
I'm afraid after careful consideration. If you still don't believe it, you can use the loan calculator (this calculator can be found casually in Baidu) to calculate it again. When you set the loan interest rate at 6.5%, the matching principal and interest will be paid back to 1956.6 1 yuan every month, which is less than your 1967 yuan/month by more than ten yuan. Oh, my God, isn't it? ! ! See the first line in the picture below? The latest commercial loan interest rate this year is only 4.9%!
Therefore, there are many ways to avoid falling into the pit. Instead of relying on friends and relatives around you or Baidu Tik Tok, it is better to read more popular science books about economic common sense.
Next, do an exercise to see if your ability to avoid pits has improved.
? You took a fancy to a mobile phone at a price of 10000 yuan, and now you plan to repay it by credit card. The bank offers two repayment methods.
? Option 1: 12 months+one-time repayment of principal after handling fee.
Method 2:1February repayment, monthly repayment10000/12+handling fee.
? Assuming that the handling fee is 0.53%, which method would you choose to repay? Please give your answers and reasons in the comments section.