Here’s another interesting article about the risks of credit card debt. I particularly liked this snippet because it succintly sums up the issue most of us have with credit card debt:
But debt is, in effect, spending tomorrow’s income today. Therefore, as long as the going is good, there’s no issue.
The article goes on to list three things that are completely out of your control that could happen to you. Should any of those calamaties strike (or any other of countless others), you’re left in quite a bind.
And that, my friend, is the big risk of credit card debt.
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