00:00I had a woman come to see me here not long ago and she'd come on some money not very much but
00:05it was a lot to her and she said what should I do with it and I said well what do you own your
00:10credit card she said well I own X I said well what you should do I I don't know what interest
00:14rate she was paying she was something like 18 percent I said I don't know how to make 18 percent
00:18if I owed any money at 18 percent the first thing I do with any money I had would be to pay it off
00:23it's going to be way better than any investment idea I've got and then later on in the conversation
00:27she talked about her daughter and her daughter had a thousand dollars or two thousand dollars
00:31or something and she said well what should I do with girls money and I said have her lend it to
00:36you I mean if you're willing to pay 18 percent she's not going to find a better deal I'll lend
00:41you money it doesn't make sense you you can't go through life borrowing money at those rates the
00:46world is in love with credit cards but I would suggest to anybody that the first thing they do
00:50in life is don't be paying even 12 percent to anybody pay that off if they're really a good
00:55credit and they don't want to do it come and see me personally I'll lend you to my
00:58yeah that's right
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