Re:The Cost of Being Poor: Why It Costs So Much to Be Poor i...
by gloryjulio on Wednesday December 21, 2022 @04:36AM
(#34078515)
If u treat ur credit card just like debit card u will never need to be end up in the situation in the first place. Don't spend what u didn't earn. And I use autopsy when I got my first credit card with autopay when I was still in school by just asking the bank for this service. I got plenty of discount and never needed paid interest once.
If u didn't earn it, it's not ur money. Don't spend what's not urs. I don't think that's hard to understand
Re:The Cost of Being Poor: Why It Costs So Much to Be Poor i...
by RyanHamilton on Wednesday December 21, 2022 @04:38AM
(#34078527)
I would suggest it's not the ease of access to data nor the ability to understand it. It's the constant bombardment of advertising.
42% of Americanas are overweight, do you think it's because we don't have the data or it's not available? No, it's that within this capitilistic society its more profitable for companies to sell sugar with a high markup and copyright protection, than a piece of fruit. If a banana was the most profitable food item to sell, there would be less obesity. At what % obesity or taking out loans or addiction do we shift from blaming individuals to blaming the scenario and the players creating that scenario often for profit?
But difficult to find. Do you know how to get out of paying interest on credit cards if you happen to be late for a payment once? Unless you've researched it, probably not. And it's unintuitive to have to research it because you'd think the answer is obvious (just pay it off) but it's not. Credit card companies count on people not noticing and then keep paying interest forever.
I know plenty smart people who just pay their credit card bill on autopay and don't examine every line item of the monthly statement. That seems crazy to me but it happens.