Sometimes I wonder why I got into debt. Is it me or is it the banks? I used to get lots of phonecalls asking me if I wanted to take out a loan for a car, holiday or whatever I wanted. They talked a good line about how there were special rate interest loans available. It just sounded so great. Doh! Stupid me!

Of course, banks have all their staff specially trained to sell products. Of course, credit cards, car loan, mortgages and payday loans are all products. Once for my birthday I even got sent a birthday card from my bank once. I thought that was quite nice. On the front is said “this birthday have your cake and eat it”. Inside the card said “with a special rate birthday loan”.

It’s important to learn the differnce between good and bad debt as you’ll learn in this video.