Expenses with Instalment Plan?


There was a period of time where retail businesses were popular in promoting instalment plan for electrical appliances and homewares. And this plan attracted hot sales among many businesses because it made purchases of large homeware items possible to many lower income families. Families were able to pay up large and luxurious household expenditures, such as large freezer, latest model of large television set, Couches, or even cars etc. Because purchaser would only need to pay back as little as a small few hundred ringgits each month over a long period of time.

Initially many consumers were gladly attracted with this kind of arrangement and involved with many such plans. However, over a longer period of time, customers began to realize that the items they bought were much more expensive than initial price without installment plan. It came with a built in interest cost. All the interest added together at the end was as high as the sky. Currently, these instalment schemes no longer enjoy its attractiveness as before. 

However, both businessmen and consumers came to aware this unworkable trick. Businessmen were willing to take one more step back in order to make sale possible. They began to offer sale tactic with no interest instalment plan in order to make business deal. Even with this kind of plan, people who are good with money management will not have a second look into the purchase. The simple reason is that with or without monthly instalment, large personal expenses will still be drained out eventually even though it looks affordable to pay little by little on a monthly basis.

With or Without Instalment

Two years ago, I had two of my right molars on lower jaw extracted out of decay. My dentist advised me to replace them with dental implant. It will look perfectly well like original teeth and able to function for a life time.  But it came with an astronomical cost of five figures. It almost fainted me to the floor.  So I did not do anything about it.

Demonstration of extruded molars due to emptiness from corresponding pairs

After more than a year, I discovered that something unusual happened to my upper jaw of those adjacent teeth left alone. Because they were alone, couldn’t match with any corresponding pressure with them, they have lengthened and became extruded. I was wondering what would happen eventually if I continue to leave it untreated. My dentist warned it has the possibility of affecting the shape of my jaw bone structure or even facial tone. And I also discovered that my left molars were over worked too.  

So I have decided reluctantly to have dental implant. Thank God that my dentist provided me with free interest instalment plan to settle the cost. Initially I shrugged off such good offer because with or without such monthly instalment, I would have to emptied my pocket too.

It is not that I don’t have the money but reluctant to spend such a large amount. Onetime payment or paying over a long period of time with instalment makes no difference to me as someone who always manages expenditure carefully. Being a frugal person, I always see to it that I would save enough for investment.

Instalment Plan

Large expenditure has never crossed my expenditure list until my late experience of sending my son overseas to study.  With that astonishing experience which I have shared in my previous blog Right Expenses will Make You a Better Person, my view on expenditure has changed or matured drastically. Because of health maintenance, nothing is unworthy to spend on. As a result, I have decided to take up such treatment with installment plan to cover the cost.          

Finally I came to realize that my burden of such high cost has lowered down substantially with interest free instalment plan. And I could envision myself having a better physical healthy future with better nutrition intake.

Furthermore, with Fundsupermart platform of having RHB Cash Management Fund 2 facility, I can park my available fund into such facility and earn interest for myself too. Just like what I shared before in the blog How to Use Other People’s Money to Earn Extra Income for Yourself, I am now putting it into another practice of proper money management. Don’t you think you can do the same, or even better than this too?

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