Interest Rate Awareness
Many consumers lack a framework for evaluating interest rates, often paying exorbitant rates without realizing better options exist. Reasonable rates typically fall below 6%, with car loans around 1-3% and mortgages between 3-5%. Anything over 10% is considered a financial emergency, especially for passive consumer debt, highlighting the importance of understanding interest rates to inform better financial decisions.In this clip
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115R | How to Get Out of Debt
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