Today we will further discuss debt management.  This discussion will focus on credit cards, debit cards, and remaining within our established budget.  Today’s market pushes all sorts of options for pushing spending to the limit and putting off payment until a future date.  The reason is simple. Marketers want you to spend your money whether you can afford to or not. There are even companies willing to charge you in order to borrow from your future earnings to pay today’s expenses.   “According to data from, the average individual credit card debt stands at $5,331 in 2019. Additionally, on a monthly basis, most Americans don’t pay their credit card balance in full every month – 55% don’t regularly pay in full.”  

“On average, an American between the ages of 18 and 65 has $4,717 of credit card debt.

According to, the average credit card’s interest rate is 15%. At the minimum payment of $189, it’ll take 10 years and a month to pay off that $4,717. The total payments would amount to $22,869. That’s a $18,155 cost for a very small loan.”  

Credit cards are tools.  They can be helpful if used properly and sparingly.  If we use our budget effectively, we will rarely need to use credit cards.  Our savings can be used in emergencies. If credit cards must be used, use them intelligently.

Keep track of your spending

K Ewing


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