Or why low monthly repayments of loans are determinant to our financial well-being.
Paying $100 a month for 24 months costs a lot more than paying $150 a month for 12 months. And minimum monthly payments on credit card bills and such can have you paying interest on a take-out pizza for decades! So don't base your borrowing decisions on low-monthly-payments alone. Low monthly payments are great for the debt pushers. They're practically pure interest and they can stretch your payments out endlessly.