Borrowing, Credit & DebtDebt
Borrowing Is Renting Money
Interest is the rent you pay to use someone else's money
Borrow $1,000 on a card and keep it five years. You'll pay more than $1,000 just to hold it.
You'll find out
- Why interest works like rent
- What doubles the rent
- Who rents your money back to you
Why it matters
Every balance you carry is a lease. Knowing the rent tells you what a thing really costs.
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