The Debt Treadmill Is Really A Conspiracy You Know!
At the checkout counter your about to make your purchase. What does the cheery, pimply faced clerk ask you? “would you like to open a charge account with us. You can save 10 percent on this purchase”? They advertise on television so you “don’t leave home without it”! They send offers for loans with no payments “until next year”. Act now and get a 3% introductory rate. Cash this check, and just make “low monthly payments!
It goes on and on and on.
Its the biggest conspiracy in history. And its designed professionally and brilliantly to make sure that you remain in debt, and continue to pay bills that never go away, EVER.
If you pay the minimum balance on your credit card, there is nothing you can buy on sale that will remain a “good deal”. You will simply end up paying the credit card company for several years on the purchase.
Do you know anyone who doesn’t carry some debt? Its ruining our financial lives, and in some cases our personal and professional relationships. Its got to end. I’m sorry if I sound like I’m preaching, but deep down inside, you know I’m right.
Dunn & Bradstreet noted this by saying - “Many consumers fall into a debt trap not entirely of their own making. They are lured by over-eager sellers, easy credit, plastic money, the attraction of small monthly payments and the buy now, pay later syndrome”.
Some of these companies don’t earn nearly as much on the items they sell as they do on the interest paid for providing credit!
Tomorrow, we will talk about the different types of debt. Once we have laid the foundation for types of debt, we can begin a discussion about what do do about it.
See you tomorrow,
Ted Batron
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