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Understanding Good And Bad Debt | Money Month Day 5

Cheques and Balances

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How to Clear Debt at a Young Age

Mike's first purchase on a credit card was $120 worth of Hell's Pizza ribs. He paid the, I don't know, $60. 49 interest or whatever. The entire time he was at university, he had got his first job at the bank when he paid that off. Mike: Bad debts are not helping you get ahead. They're just all about immediate gratification.

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