Evidence
The $100 a month that buys back 28 months
FactArithmetic: a $3,000 card balance at 24% a year, paid at $100 a month, takes about 47 months and costs about $1,630 in interest.
FactPaid at $200 a month, the same balance takes about 19 months and costs about $600.
InterpretationThe extra $100 a month is the sacrifice. About $1,000 kept and 28 months of freedom is the survival. Sacrifice to Survive, in numbers anyone can check.
Ask whyWho earns the interest you pay, and what would you do with it instead?
What we know
Paying more each month cuts both time and total interest; this is plain arithmetic.What we don't know
Your own rate and balance; put yours into the Choice Compass to see your numbers.What it means for me: three seeds
- Find the interest rate on your highest-rate card.
- Pick one small expense to redirect to that card this month.
- This is arithmetic, not financial advice; ask a counselor for your full situation.
Source: plain arithmetic you can check yourself.