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Americans now $1 Trillion in credit card debt.........
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<blockquote data-quote="backhoeboogie" data-source="post: 1477497" data-attributes="member: 3162"><p>I had everything on a spread sheet back in the 70's and 80's. A manual spread sheet. Interest rates were much higher back then. Balance, principle, and interest in columns month to month. Totals were on the bottom. Highest interest debts were paid off first. I climbed out for everything except the house and trucks by the late 80's. Extra job income and any other extra income went toward debts. I climbed completely out of debt. Then I bought equipment on credit. Bought another farm on credit. Credit debts for business was making money for me and I didn't mind that. If it doesn't earn money, I don't borrow. All equipment was paid for and then sold the farm for huge profit. </p><p></p><p>Debt is not bad if it makes you money.</p></blockquote><p></p>
[QUOTE="backhoeboogie, post: 1477497, member: 3162"] I had everything on a spread sheet back in the 70's and 80's. A manual spread sheet. Interest rates were much higher back then. Balance, principle, and interest in columns month to month. Totals were on the bottom. Highest interest debts were paid off first. I climbed out for everything except the house and trucks by the late 80's. Extra job income and any other extra income went toward debts. I climbed completely out of debt. Then I bought equipment on credit. Bought another farm on credit. Credit debts for business was making money for me and I didn't mind that. If it doesn't earn money, I don't borrow. All equipment was paid for and then sold the farm for huge profit. Debt is not bad if it makes you money. [/QUOTE]
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Americans now $1 Trillion in credit card debt.........
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