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Originally Posted by flstf
I am also one of those who pays off my credit card every month. However we shouldn't be surprised that so many people run up so much dept that they can't keep up with it. After all that's the way the government works.
Someone said that if you can talk the bank into loaning you enough money then you will soon own the bank. Maybe our goal should be to run up a tremendous amount of debt and live the good life before we die. Works for Uncle Sam.
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ya know...i have a friend that is single, making $50K a year in an area where FAMILIES average $35K a year, does not have to worry about rent or associated bills...and is in debt up to her ass bc of credit and credit cards...her reasoning is that she makes minimum payments on everything every month...the debt always stays roughly the same bc the interest adds up to about the minimum payment, so really, she is just giving money out every month to pay for the interest....
that scares me...she says she pays about $300-550 a month in interest alone...and that's not including whatever she pays for her car payment (about $350 total for the car payment), but the 300-550 is just interest on credit cards or store credit...