this post was submitted on 14 Jan 2024
663 points (98.3% liked)
People Twitter
5210 readers
2093 users here now
People tweeting stuff. We allow tweets from anyone.
RULES:
- Mark NSFW content.
- No doxxing people.
- Must be a tweet or similar
- No bullying or international politcs
- Be excellent to each other.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I feel like I'm too poor to understand what happens between steps 2 & 3 without having a job. How are they paying the loans off? Where does that money come from? And if they have an income in order to pay the loan, why get the loan to begin with?
The current loan gets rolled into the next loan and becomes a revolving door of credit. As long as you don't spend faster than the assets appreciate you'll always end up ahead.