Finance Rule #11
Debt Destroys Wealth
Consumer debt at 18-24% interest destroys wealth faster than any investment can build it.
"Paying off a credit card at 24% interest is a guaranteed 24% return."
No investment consistently returns 24% annually. That is exactly what you earn by eliminating credit card debt. Personal loans and credit card balances should be treated as financial emergencies — not normal parts of life.
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