The average American household has at least one credit card and carries nearly $9,700 in credit. With interest rates in the mid-to-high teens, that family spends, on average, over $1,700 a year in interest and fees - and that's if they pay every bill on time!
Take control of your debt. Quit buying things you can't afford. Cut up your card and pay off the balance. Put the $1,700 a year that you would be giving the credit card company in an emergency bank account so that you don't have an excuse for keeping at least one card around.
Not carrying a credit card balance is like giving yourself a $1,700 a year raise. And who couldn't use that right now!
Need some help breaking the plastic addiction? Download the New American Dream Wallet Buddy, a cost-cutting catechism that you can print out and fold into an impulse-stiffling sleeve for you credit card.
Oh, yeah, it works for controlling your spending with debit cards, too.
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