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Exactly. Many of these people may have twice that amount in credit card debt. And while it's great to pay that down, it won't change much immediately.
by mabbo 4y ago
Exactly. Many of these people may have twice that amount in credit card debt. And while it's great to pay that down, it won't change much immediately.
- dahfizz 4y agoI would expect that halving their monthly payments on that debt would have a significant effect on their monthly budget. Why wouldn't that be the case?
- ceejayoz 4y agoThey know they’re just gonna have to max out the credit card again for that thing (one of many!) they’ve been putting off for months. The poor always have another bill lurking to wipe out a small windfall like this. Like their cancer treatment. https://www.nbcnews.com/health/health-news/cost-cancer-drugs-patients-dont-fill-cancer-drug-prescriptions-high-co-rcna36793 https://www.nbcnews.com/health/health-news/cost-cancer-drugs...
- phkahler 4y agoMonthly interest on $2000 is about $50. The difference will be hard to notice.