Cathy Classics by Cathy Guisewite for October 26, 1997
Transcript:
Cathy: It's on sale, Mom! Mom: It's on sale now, but as soon as you take it home, the price will go up. Cathy: It's 30% off! Mom: It's 30% off here. It won't be 30% off when it hits your 18% interest credit card. According to this clipping, if you have credit card with 18% interest and $40 annual fee..and pay the monthly 2% minimum..it will take you 24 years to pay it off! And you will have paid $4,396.50 in interest on top of the $2,000 charge! Cathy: It's a $19 sweater! Mom: It's $19 today...but who know how much you'll have paid for it by the year 2021! $45 ?? $150?? $780?? Cathy: Aaack!! Saleswoman: May I help you find something? Perhaps a little room on the other side of the store that your mother could go sit in??
Mom is making a lot of sense for once. People need only pay for things with money they have and save credit cards for emergencies