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Just Keep Buying with Nick Maggiulli #499

How to Money

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Why Credit Card Debt Isn't an Awful Thing

Nick Gillespie says credit card debt isn't necessarily an awful thing. He argues that it might be a loquidity issue, where people borrow money but have cash they can use to pay off the debt. If you're paying 20% or 30% per year on your debts, he says, why not just get rid of them and save for something else? It's probably optimal mathematically from a risk perspective, according to Gillespie: "It's like firingo"

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