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Debt is the worst(1)

Debt can come in many forms and not all debt is created equal. When used in a financially responsible way (like buying a home or using leverage to make investments) debt can be used to create wealth, but when used indiscriminately, it can literally destroy lives. 

(1) Credit card Companies are the worst

Credit cards, if used improperly, are literally the worst, and credit card companies only exist to make money off of you. 

And... they want you to go into debt, as fast as possible, and as much as possible. Yes, there are real life companies out there with the business model of convincing innocent people to go into debt, and the quicker the better, which can quickly lead to life crippling ramifications. WTF. But it's ok, at least the c-suite can fly private and their kids will never need to get jobs.

How could someone do this? Well, companies in general are in business to make money off of you. Though, most actually sell you a good or provide a service. Credit card companies... not so much. They give you money you don't need at unreasonable and unethical prices. 

Let's break it down

The average APR on a credit card is ~15%, and that can go as high as ~30%, and every time you have a running balance on your credit card, the credit card company is charging you that APR % on whatever that running tab may be. 

What does this mean? This means that if you purchase a chair for $100 on your credit card and you don't pay it off in full (like with a balance of $0, not the "amount due" or "minimum payment") at the end of the month, then you are actually buying that same chair for as much as $130. Heart breaking. Now try buying a whole furniture set for $10,000 and not paying off your cc. That same furniture set in 1 month now costs you (and only you) $13,000. Whoa, that's serious. And unfortunately this happens all the time, hence the private planes.  


And the credit card companies get all that money. 

The cc companies pay the chair company the $100 for you (because you used the cc to purchase it) but in return they charge you $30 for using the credit card. Sounds like easy money to me, well it is. And it's getting easier. Now, credit card companies charge consumers an annual fee to even have the credit card itself, regardless if you use it! And more importantly, and we live in such a consumer focused society where the "keeping up with the Jone's" and "what would the neighbors think" mentality dictates our every move. We are constantly being told to buy buy buy even when we don't have the money. 


Enter: credit card companies. They have made it easy to purchase things with money that we don't have. And what consumers don't fully know or understand is that these credit card companies are charging you out the a** for the privilege of using them. And better yet, they've created this concept of a "minimum payment", which is a arbitrary fixed dollar amount that they are telling you to pay each month to not incur an additional late fee. Fees on fees. But don't be fooled, they are still charging you interest, even if you are doing everything *right*.  They are giving you false information about what you need to do each month in order to be financially responsible all the while charging you insane amounts because of the lack of understanding and education surrounding credit cards. Again WTF. 


It's almost criminal. Dare it say it, it is. Bring it on Visa.

If you don't have the money, don't buy it.

Live and die by this. If you don't have the money first, don't buy it. Only the credit card company benefits, not you, not the chair, certainly not your family, and in reality you could be putting yourself in a terrifying financial situation that could take years and money to rectify.  

Debt management is one thing, but not getting yourself into debt is a whole other concept.


Let's try to prevent disease, not treat it. 

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