Friday - let's talk making payments!

Minimum payments rob you of your income.

If you take the time to look at what your minimum payments actually do - namely how much principal they service, it provides an enlightening commentary.

Whether it's for a credit card, a loan, a car payment, a credit line or a mortgage, the minimum payment does one thing.

Nothing.

It gives you the impression of progress and gives the bank the opportunity to make it look like you can afford the debt product they sold you.

You can't.