A $4 daily coffee habit can balloon to $40 or more when you are only making minimum credit card payments each month. James has been there himself, staring at that bill and thinking a small payment is no big deal. This episode is about why that thinking costs you more than you realize.
This podcast uses the following third-party services for analysis:
Podcorn - https://podcorn.com/privacy
Transcripts
Speaker A:
This is the Daily Note.
Speaker A:
I'm James A.
Speaker A:
Brown.
Speaker A:
Ever notice how your credit card bill gives you an ouch?
Speaker A:
Just pay the minimum.
Speaker A:
10 Bucks, maybe 20?
Speaker A:
Seems merciful.
Speaker A:
Maybe, but stretch it out and that $4 coffee becomes 40.
Speaker A:
The minimum is really the maximum.
Speaker A:
Maximum profit for them and a maximum drag for the rest of us.
Speaker A:
It's a quiet trap.
Speaker A:
One month feels manageable, and 10 years later you're still paying for sneakers that are long gone and din you barely remember it's minimum payments but long, long costs.
Speaker A:
So here's my question.
Speaker A:
Do you see the minimum payment as a cushion or a leash?
Speaker A:
Let me know in the comments and check out [email protected] or call me.
