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North of London | Will read article later but couple thoughts on general public.
1) some people may be somewhat 'literate' about the numbers but do not have the willpower to manage their money, especially when it is cash in hand or the Credit card that does not have to be paid until 'later'
2) some really are illiterate and do not understand the relation of 'interest rate' and time.
I have been totally surprised by conversations with people about what it costs them to not pay off credit card balance and realize they have no idea about that.
i guess they do not read the part that tells them how long it will take to pay off the balance if only making minimum payment | |
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