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Topic: Paying interest on a product when you have cash in your pocket. Have you found yourself going into a mall, clothing store, or even a grocery store, and find something that catches your eye? You think to yourself; “Hmm should I purchase this now on credit or buy out cash”. Paying interest on a product when I have cash in my pocket should be my first thought. My credit interest is 9%, and the outfit I want to buy is about $80.00 clearance item. If I were to place the outfit on my credit card and pay it off before the billing cycle, then I will not accumulate the interest rate. I have to think this through, what happens if something comes up and I am not able to pay for the purchase next month. What am I thinking, why give someone else extra money when I have the money in my pocket. I will go ahead and purchase the outfit with the cash I already have. I should only use my credit card if there were an emergency that came around. I am glad that I have thought this threw, because I would have made a wrong decision on thinking that I had got a good deal, when all reality paying interest it would have came out to be the same amount.

Topic: The interest rates on credit cards are what allow people to go into debt, and can’t get themselves out of it. There are millions of people in this world whom own several credit cards. Some who actually watch what they spend, and others who are very careless. The interest rates on credit cards are what allow people to go into debt, and can’t get themselves out of it. People do not realize that the interest rate on the credit card keeps on going higher the more you purchase. Instead of individuals understanding that when you make a purchase that is truly needed and acknowledge that your interest rate is 25%, then do not make anymore purchases until you have paid off that item. The creditors are making a lot of money off of us consumers just in interest rate, and again this is what is leading us to debt. When making the...
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