Escape the Debt Trap

di Pierre André Beaumont (Autore)

Cobbo Publishing LLC, 2025

This audiobook is narrated by a digital voice. The modern financial landscape has created a perfect storm of circumstances that can trap even the most well-intentioned individuals in cycles of debt that seem impossible to escape. What begins as a simple credit card purchase or a necessary loan can quickly spiral into a complex web of obligations that consume increasing portions of our income and peace of mind. Understanding how these traps work is the first step toward freedom. The debt trap operates on a deceptively simple principle: it makes borrowing money seem easy and convenient while making repayment difficult and expensive. Credit card companies market their products as tools of financial freedom, promising instant gratification and flexible payment options. What they don't emphasize is how minimum payments are carefully calculated to maximize interest charges while minimizing principal reduction. A typical credit card charging eighteen percent annual interest requires decades to pay off when making only minimum payments, and that assumes no additional charges. The psychology behind debt accumulation is equally important to understand. Modern marketing has conditioned us to view debt as normal, even desirable. We're told that good debt builds credit scores, that leveraging other people's money is smart financial strategy, and that we deserve to have what we want now rather than saving for it later. This messaging creates cognitive dissonance between our financial reality and our spending desires, leading to rationalization of purchases we cannot truly afford.

• Autore: Pierre André Beaumont
• Anno edizione: 2025
• Editore: Cobbo Publishing LLC
• Lingua: Inglese
• EAN: 9798318138959