ilmscore | Prediction Details
"For example, if you have $1,000 of credit card debt at 22% interest, that is costing you $220 in interest over a year. Now, say instead of paying that off, you decide to save. You save that $1,000 in a high interest account, paying 3%. Then you're earning $30 in interest over the year. So, you're essentially $190 worse off."
By Nischa | March 19, 2023 | Pending
From video
ACCOUNTANT EXPLAINS: 10 ways you should be saving in 2023 00:03:46 - 00:04:02
Interpreted Prediction
A $1,000 debt at 22% interest costs $220 annually, while saving the same amount at 3% yields $30, resulting in a net loss of $190 compared to paying off the debt.

Prediction Details

Topic
Debt vs. Savings

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