Somewhere deep in the headquarters of your credit card issuer, is there a plaque with your smiling picture labeled "Big Spender of the Month?"
Perhaps not, but if you are consistently carrying a balance on your credit card, your spending is too big for your income. You are likely to be racking up interest charges and assuming greater credit card debt — and a recent survey suggests that you have an increasing amount of company.
The National Foundation for Credit Counseling® (NFCC) recently released their annual Financial Literacy Survey, which shows a disturbing trend with respect to credit card debt. More families are carrying credit card debt over from a previous month (39% in 2017 compared to 35% in 2016) and 16% of households are rolling over at least $2,500 in debt each month (compared to 14% in 2016).
The NFCC findings are in line with the New York Fed...
from MoneyTips https://www.moneytips.com/more-americans-with-credit-card-debt/161
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