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2023-01-28 Economy

Dave Ramsey Says This Is the Key Difference Between Rich and Broke People. Is He Right?

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Posted by Besoeker 2023-01-28 02:13|| || Front Page|| [5 views ] Top

#1 That’s the next pivotal choice after graduate from high school, get married before having children, and get a job. Also, is total spending more than one’s income — even slightly — or less?

Posted by trailing wife 2023-01-28 11:22|| 2023-01-28 11:22|| Front Page Top

#2 Debt, like credit, is a wonderful thing for a person who understands its management. No credit or debt and the world is a catastrophically more impoverished place.

Of course, managing credit and debt entails math, so it's inherently rayciss.

Posted by M. Murcek 2023-01-28 11:30|| 2023-01-28 11:30|| Front Page Top

#3 Credit card debt in the U.S. hits all-time high of $930 billion

Many people just have little discipline. The Elizabeth Warrens of the world blame it all on the ~~Democrat donors~~ big banks. If you don't want to pay a 21% APR, then either go without, pay off the balance in full, or just suck it up.

I have to wonder with online shopping (especially with Amazon Prime) that impulsive people with just a few mouse clicks will buy something. Multiply that by numerous times, et voila, there's almost a trillion dollars of credit card debt.

And get this: there are accounts of people getting letters from their banks/CC companies offering to increase their charge limits. Almost macabre. But why should the banks care? The government will just bail them out again.

Student loans are another trillion, too, but that's another story.

Posted by DooDahMan 2023-01-28 12:05|| 2023-01-28 12:05|| Front Page Top

#4 Many people just have little discipline.

You mean like Congress?

Posted by Abu Uluque 2023-01-28 12:48|| 2023-01-28 12:48|| Front Page Top

#5 And get this: there are accounts of people getting letters from their banks/CC companies offering to increase their charge limits.

The banks get their profits from interest. They really don't care about the principal. They want you to be an interest paying slave for your entire life and the way they accomplish that is to entice you into more debt.

Posted by Abu Uluque 2023-01-28 12:51|| 2023-01-28 12:51|| Front Page Top

You can have anything you seek
For a dollar down and a dollar a week.

Posted by Gromble Dribble4342 2023-01-28 16:09|| 2023-01-28 16:09|| Front Page Top

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