2.4% Yeah, she’s a sweetheart, but to someone who ignores their CC debt that tiny rate feels more like a justification
to NOT pay her back (“No rush. I AM paying interest so it’s not like I’m cheating her”). It’s like that economics incentive example where an Israeli daycare started charging a fee for people who didn’t pick up their kids on time, and they ended up with MORE late pickups because people felt less bad about it.
They’re young. They can still change their lives relatively easily now. It has to start with understanding that they’re poor and learning what responsibility is.