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By E K Wills Why do so many people have such huge credit card debts? Financial gurus are always espousing the virtues of not going into debt so how is it that vast amounts are racked up on credit by people every month? Years ago, a study done by MIT researcher, Associate Professor Prelec, showed that when two sets of people were asked to bid in an auction using cash vs credit, about twice as much bidding was done by the credit card holders than those with cash. So even though

By EK Wills money tree I grew up in the excess of the 80’s when everyone expected to become a millionaire. My father was one, so why shouldn’t I? Except the 80’s didn’t last and he wasn’t the Rich Dad that taught you how to do it sensibly and slowly because that was boring. He was a risk taker and a good one. The 80’s were his gold fields and he knew how to reap the rewards. He didn’t need a savings plan but he knew that you needed regular income to service your debt in order