Why repaying $500 can be harder than repaying $1,000

A version of this post was originally published on TKer.co.

When I was in college, I didn’t make much money at my modest work-study job. It certainly didn’t earn me enough to pay off my credit card bill that one time I hit the $500 spending limit.

Terrified that I would never be able to come back from what looked like imminent financial ruin, I called my older sister for some one-time cash. It was humbling, but thankfully she bailed me out.

Today, as an actual adult with income, savings and a good financial plan, paying off a $1,000

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