@mastermind@lemm.ee to Asklemmy@lemmy.mlEnglish • 2 years agoWhat's a scam that's so normalized that we don't even realize it's a scam anymore?message-square1114fedilinkarrow-up1734arrow-down124
arrow-up1710arrow-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 • 2 years agomessage-square1114fedilink
minus-square@DeltaTangoLima@reddrefuge.comlinkfedilinkEnglish2•edit-22 years 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-square@Thorny_Thicket@sopuli.xyzlinkfedilink3•2 years agoI quite like compounding interests but the difference is that I’m on the receiving end (index funds)
minus-square@Michal@discuss.tchncs.delinkfedilink1•2 years 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.