Pay More than the Minimum (or Enslave your Heirs.)
February 21st, 2010
If you have any chance at all of getting out of debt you need to realize that paying just the minimum balance on your credit cards is a recipe for eternal debt servitude.
Don’t believe me (debt guru that I am?) then maybe you’ll trust the folks at the humor site Cracked.com, who have put together the following graphic that shows just how long it takes to pay off credit cards at a 2% rate.
Posted in One Response to “Pay More than the Minimum (or Enslave your Heirs.)”
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I love the illustration. Crazy! But true (almost)!
Keep up the good work,
Eric
P.S. I would love to expose your thoughts to my readers on alliance.beatingdebt.org. Look me up, so we can work together.