There are alot of things I don’t seem to understand about life and maybe Singapore. Graduated from NUS in 2016. Working since. Many things that happen as a norm in our lives has made me think. First, insurance. The moment you start working, agent friends and even roadshow agents approach you for policies. There are countless policies out there. While insurance is an absolute necessity, the whole aim of insurance is to cover large expenses (esp hosp) and what I don’t understand is, not every insurance is affordable. So if I’m very rich and i already have the ability to afford large payments when the incur and yet I still load myself with all the damn policies out there, I don’t see logic in this. Because there are people out there who can’t afford such policies and when the bills come, they still can’t pay.
The same principle seems to be applied across various other areas. You walk in to a electronics retailer to get an aircon or a large appliance for instalment. Who is getting it for loan? The rich? No, it’s those who can’t afford to pay in full. But it’s these people who have to pay the interests. While the rich, who are already rich, have credit cards etc and are happily using them to claim more points and earn more rewards.
I went to pump petrol for my family car few days back. Previously, for every $60 petrol you pump, you can use a $5 offset voucher. Now they increased it to for every $70, you get to use the same $5 voucher. While my full tank cost me $120 and previously I could use $10 voucher to offset now I can’t.​ I was wondering. Anyone whose full tank costs more than $120 probably drives a more than average cc car and in that context, why would he/she need that $5-$10? While for me, car is super expensive. I have it for my family, older parents and kid.
I’ve got no idea which geniuses came up with this ideas. But if their aim was to help ppl save money, then it shud aim at those who need it the most.