Deeper Dive in The Rule of 72 Part III

In the first two parts of the deeper dive the positive side of the rule was explored. Now I’m going to do a quick look at the dark side of the rule of 72…

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Credit Card Debt – Pay Maximum

Why be minimum be Maximum. Max out your life not your debt. Debt is a tool but, like a knife it cuts both ways. You can get a house with debt or you can get a boat with debt. You can live in a house and having debt to acquire one may be a good deal (you have to live somewhere). Acquire debt to buy a boat seems to me to be a bad deal (unless you live in your boat). Using a debt card to buy a want rather then a need is a bad deal. I’d buy a text book for school over a comic book but, I would prefer not to buy with debt  in the first place.

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