At present, many debtors are mired in the quagmire and unable to repay their debts. In fact, I have been paying back the money, but when I look back, I find more and more, and I have never thought about why. Then let's use the simplest example to calculate.

Take credit cards as an example. The average installment rate of credit cards is 5? That is to say, if you borrow 10000 yuan, the interest for one day is 5 yuan. If the principal is 12000 yuan, it will be divided into 12 installments, and each installment will be repaid at 1000 yuan.

Simply look at the loan 12000 yuan, pay interest of 2 160 yuan, and the annual interest rate is 18%, which is less than the folk saying of 2 points. But in fact, your monthly principal is decreasing. When you are still in 12, your principal is only 1000 yuan, but you bear the interest of 180 yuan. Some professionals have calculated that the highest comprehensive annual interest rate is close to 60%, which is often referred to as six points.

Is this borrowing cost scary? I really don't know, but I'm shocked. So how many commercial services in the real world have a net profit of 60%? When your positive income balance is not enough to pay the total interest, then you will never be able to pay off these loans.

Most debtors like to steal from the East to make up for the West. Please remember one sentence: "All cash flow from financing with costs will never solve your debt".