Pay It Off!
Let's say you have $1,000 in savings and are making 6
percent interest. That means that you make $60 a month
in interest. Let's also say that you have $500 you need to
pay off on your credit card. By not paying it off, they charge
you 18 percent interest a month. That means you owe an
extra $90 a month! It's just foolish to keep putting money
in a savings account when you have credit cards to pay off.
You'll save money if you pay off the credit cards and then
start saving
Save It!
I don't know why people don't try to save more. Now, it's
smart to go ahead and work on paying off any debt you
currently have on credit cards. But, it's even better to stop
using your credit cards! Instead of constantly buying
things on credit cards, put your money in a savings
account and wait until you have the cash to buy what you
want. That way you won't end up losing all your money to
credit card debt! Try to stop spending and start saving.
What is a common main idea from both of these texts?
A. It's important to pay off debt.
O B. You should never pay off debt.
C. It's a good idea to open a savings account.
D. You should always save.