Credit Card Debt Explained With a Glass of Water
http://www.totaldebtrelief.net uses a pitcher and a glass of water demonstrate the effects of minimum credit card payments. This video uses a simple analogy to describe how the average American is throwing away their money to the credit card companies. Visit totaldebtrelief.net for more information on credit card debt relief.
Duration : 0:3:25
2 Responses to “Credit Card Debt Explained With a Glass of Water”
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Overall, nice … Overall, nice presentation, but why was the debt dropping $1 per month at first, then slows to $5 per year? That skews the numbers higher, but the debt is still catastrophic.
Good Illustration. … Good Illustration. I don't think debtors dispute this knowledge, rather they fall victim to the psychological trap of deferred pain. Paying $20 for something at a later time seems less painful than paying $10 for it today. The problem is compounded when they don't have the $10 in the first place.