Chris Walsh

And minimum payments, we've just launched a minimum payment calculator just to show how toxic some of these minimum payments are, because some of the banks charge as little as 2%.

And their interest rates will be like 21%, 20%.

So paying it off $1,000, if you just did the minimum, it's years and years and years.

And so it's a trap.

And I know this is, we're trying to focus on investing here, but you go backwards when you have all this personal debt.

sure so have the emergency fund people don't have these five hundred dollars to a thousand dollars having the emergency fund like just sort so many things out so okay you need to go and pay for a pet insurance excess great i've got two hundred dollars i've got 150 bucks to like do that i don't have to put it on a credit card which is already getting kind of full having the emergency fund is so powerful and they they do these studies i think rnz came out with like

basically 80% of... I don't even know what the number was, have basically no money.

So it keeps coming out.

I don't know where they're getting... I don't know where the data comes from.

I think it must be a survey.

Yeah.

Yeah, people, it is about just making those $20 contributions, the $10.

And yes, it's frustrating because it doesn't seem like, oh, I'm never going to actually get there.

But it's all relative.

People have to commit to this because, not financial advice, but seriously, because there's so many people not saving this basic threshold that lets them avoid bad debts and have choices.

And it's not like a slush fund for going out or having a big weekend.

It's for those real, real emergencies.

And someone that I like, um, for example, is first credit union.

This sounds like a, this sounds like a, like a push.

It's certainly not, but it's like the only, it's the only lender, which if you get a personal loan with them.