mastermind@lemm.ee to Asklemmy@lemmy.mlEnglish · 11 months agoWhat's a scam that's so normalized that we don't even realize it's a scam anymore?message-squaremessage-square796fedilinkarrow-up1635arrow-down123
arrow-up1612arrow-down1message-squareWhat's a scam that's so normalized that we don't even realize it's a scam anymore?mastermind@lemm.ee to Asklemmy@lemmy.mlEnglish · 11 months agomessage-square796fedilink
minus-squareDeltaTangoLima@reddrefuge.comlinkfedilinkEnglisharrow-up3arrow-down1·edit-211 months agoSpecifically, compounding interest. I have no problem paying something extra back if I need to borrow a sum of money, but it should be a flat, fixed fee calculated as a percentage of the amount borrowed, up front. Compounding interest is bullshit.
minus-squareThorny_Thicketlinkfedilinkarrow-up3·11 months agoI quite like compounding interests but the difference is that I’m on the receiving end (index funds)
minus-squareMichal@discuss.tchncs.delinkfedilinkarrow-up1·11 months agoIf it’s a flat fee then it’d likely be higher. If it’s compounding interest, it will automatically include any late fees if you pay on time.
Loan interest.
Specifically, compounding interest. I have no problem paying something extra back if I need to borrow a sum of money, but it should be a flat, fixed fee calculated as a percentage of the amount borrowed, up front.
Compounding interest is bullshit.
I quite like compounding interests but the difference is that I’m on the receiving end (index funds)
If it’s a flat fee then it’d likely be higher. If it’s compounding interest, it will automatically include any late fees if you pay on time.