Rent it or sell if for cheap?

[bigmo]

Wow Steve,

That is quite a cut! Were there no political repercussion or mass protest? A frugal person with savings would take a 120% hit on their savings... OUCH!

That's not nice!

Peace

[Steve_A]

Hi bigmo,

Beleive it or not my American Express credit card % rate is 12.99%..... per month! My Visa and mastercard are both 11.5%. There are even smaller cards (Hipercard) which is 15% per month!

Frugal people don't have bank accounts, they don't have enough money.

Even so, it is a lot better now with inflation at around 6% per year. There is a lot of complaints about the parity between inflation and interest rates on loans which can go between 7% and 12% per month, but in a corrupt political system the best way is to make a deal with shop owners to buy larger items or buy special offers when they appear.

It's like another world down here, but it is enjoyable once you understand the stupid system. The secret? Don't get in debt!

Best regards,

Steve

Originally Posted by bigmo

Wow Steve,

That is quite a cut! Were there no political repercussion or mass protest? A frugal person with savings would take a 120% hit on their savings... OUCH!

That's not nice!

Peace

[Julius]

Thanks Steve for explaining that. It doesn't sound that bad, but I worry about your last statement..

"The secret? Don't get in debt!"

I think I will try and rent it and keep it. Thanks for your input!!