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Credit-borrowing money now, in return for a promise to pay later
Pros
-you get what you want
-you can get rewards


cons
-you will get into lots of debt
-if you dont have the money they can charge you a lot more

Interest-money paid regularly to delay the full payment of a debt, almost always a percentage

Mortgage-a long term loan (credit) always for houses

Student loans-loans (credit) given to help pay for education

Keys to wealth:
1. It costs money to borrow money
2. rewards or incentives to use the credit card-cash back, or airline miles
3.
     
 
what is notes.io
 

Notes.io is a web-based application for taking notes. You can take your notes and share with others people. If you like taking long notes, notes.io is designed for you. To date, over 8,000,000,000 notes created and continuing...

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