Brother, can you spare a dime?
Behold, joes and jills ... the next great way to waste money and time. A new thing has been set up on the Internet, where you can borrow money from total strangers. People put up their own cash for others to borrow, and they get paid back with interest. Well, for my money, the only interest I've got is for getting suckers out of debt.
Just like Dave talks about on The Dave Ramsey Show, if you borrow money from one place to pay another, you're just moving the debt. You're treating the symptom, not the problem, jack. You want to deep-six debt, not move it from A to B. Create a budget and pay off debt; that's the key to wealth-building. Do that, and you won't have to worry about getting stiffed by someone you don't even know, or haven't even seen their mug. Simple, simon.
Just like Dave talks about on The Dave Ramsey Show, if you borrow money from one place to pay another, you're just moving the debt. You're treating the symptom, not the problem, jack. You want to deep-six debt, not move it from A to B. Create a budget and pay off debt; that's the key to wealth-building. Do that, and you won't have to worry about getting stiffed by someone you don't even know, or haven't even seen their mug. Simple, simon.
1 Comments:
I don't know how long the service you referenced will last. It seems to me the idea is doomed. As you said, people in debt who move their debt to a new creditor haven't really gained anything. Their habits haven't changed, and their financial discipline is just as loose. I suspect many loans will default, leaving lenders out money while the service reaps the various fees.
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