THE FINANCIAL DEMON: INTEREST
THE FINANCIAL DEMON: INTEREST
Interest is that small thing that can often go with the saying “The straw that broke the camel back”. When it comes to finances, interest could be considered the straw that actually breaks the camel back. The camel back could be looked at as a figure of speech for individuals’ finances/bank accounts. I would suggest to you that interest is that silent financial killer whose impact isn’t felt until it is time to begin repayment. Yes, you could say interest is an undisclosed punishment for getting those things in advance that you really can’t pay for.
Examples
1. Car payments
2. Loans (Banks & Pay-Day Loans)
3. Credit Cards
Sadly to say the amount of interest you pay is predicated on your credit worthiness which is based on your credit score. Interest is a small thing that matters a lot. You need to look at interest as a penalty. Penalty is defined as something that is forfeited as a sum of money. Penalty is also defined as a loss, forfeiture, suffering, or the like, to which one subjects oneself by non-fulfillment of some obligation. From looking at those definitions of penalty, interest is a penalty because you are willing to pay for something in advance you can’t even afford. Ask yourself how bad are you being penalized?
Jerome Cooper, MSL
Consultant-PT
****If you are getting high interest rate offers or know someone getting high interest rate offers, please reach out to me at: [email protected] and put “INTEREST” in the subject line. I can help you get your credit restored so you can maximize on the low interest rates. I can also show you how to get your credit restored for “FREE”. You can also reach out to me on Facebook and LinkedIn.
Check out the following link: https://chromacreditrestoration.com/L695668