I see how my mother spent $350 on a $200 jacket because she always paid the minimum credit card fee every month and accrued interest. It seemed so dumb to me. She fell into the is trap over and over. Another trap is when you buy stuff you can’t afford and the government takes your house or assets as collateral.

This is so scary to me. A whole lot of people would suffer if we lived like that here.

Now I realize there are ways to play and win though. If you have a steady income and lots of savings or investments, you can leverage those and use credit to live in order to take advantage of inflating currency. There are loans that are low interest, I don’t know much about them but there are games to play where you can win, but basically you have to have money to play them.

It's only favourable to the mid and rich people then. It's just a huge debt trap for the lesser privileged.

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