PAYING THE MINIMUM BALANCE ON YOUR CREDIT CARD | Financially Fabulous

Here I explain impact of only making the minimum payment on your credit card.

While it can be tempting to only pay the minimum balance on your credit card, you can end up paying far more than you expect because on the interest you’ll be paying.
The video provides a challenge with a FREE downloadable worksheet to help you determine how long it will take you to pay off your credit card if you pay only the minimum balance.

You should also watch my video about How Many Credit Cards You Need:    • HOW MANY CREDIT CARDS DO YOU NEED | Financ...  


http://limor.money/2016/05/paying-jus...


Here is a recap of the video: https://goo.gl/y64Mxg

00:30 Introduction of minimum balance

01:00 Paying the minimum balance is the anti sale

01:15 Example #1 showcasing the impact of paying just the minimum balance

02:30 Example #2 showcasing the impact of paying just the minimum balance

03:40 Minimum balance payment challenge

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Limor Markman
Real Estate Investor & Money Expert
http://Limor.Money
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Disclaimer:
Just a reminder, that I’m not a Certified Financial Planner, the content is my opinion only. I’ve made every effort to ensure that the information in my videos has been accurately represented. I do not warrant or represent that the information is accurate, up-to-date, comprehensive, verified or complete. The content has been developed for educational and informational purposes only and is made available to you as self-help tools for your own use; it is not a substitute for professional advice. I shall not be liable for any investment decisions or any other actions taken by you based on information contained in this site.
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Paying Just The Minimum Balance on Your Credit Card
   • PAYING THE MINIMUM BALANCE ON YOUR CREDIT ...