Your Hair Is On Fire! AKA Debt

MMM says we should treat debt as if your hair is on fire. He’s written about it and now you can hear him say so in this really cool video starring the MMM family being interviewed by Farnoosh for FinFit.

According to this Dutch article only one in ten fellow Dutch(wo)men know that banks charge 12 to 15 percent when overspending. Most think it is about 6% and some even less than 3%!!!

How is it possible that so many people are so financially illiterate?

Love,

Mrs EconoWiser

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2 thoughts on “Your Hair Is On Fire! AKA Debt

  1. donebyforty

    I think tracking one’s expenses is a habit — fairly easy once you get going, but a lot of people have never really kept tabs on all they spend. Once the really take a look at it, I think the outrageous costs of credit card interest or bank overdraft charges become pretty apparent.

    Reply

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