We spend 45 days repaying just interest on debt | Debt freedom day | This is Money
The aveage borrower spends the first 45 days of the year earning enough to just pay off the interest on their personal debts.
Today marks 'Debt Freedom Day', the first day of the year when borrowers are free of paying the interest of their debts and can finally begin repaying the actual debt itself.
Somewhat depressingly this is the equivalent of borrowers spending the first 45 days of their entire salary on the amount of interest that would have accrued during the last 12 months.
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