Money Musings 💭my credit card snafu 🤨
I know managing and paying down credit card debt is a topic that’s on many of your minds. And you are not alone.
In the US, the median household income hit $63,179 in 2018. That’s $20K+ increase from what it was in the year 2000. Woot! But what’s changed is our debt. The typical household now carries an average debt of $137,063, up over 250% from $50,971 in the year 2000. Whaa??? 🤯
But us women have it even worse. Not only do we have more debt than men (another gap 😡), we’re charged higher interest rates on credit cards and mortgages (even though we default on loans less frequently than men). 🤔
I got my first credit card when I graduated college and didn’t understand how they worked or all the ways they could get me in trouble. Way too many interest charges and fees later, I struggled to make on-time payments and ended up damaging my credit.
All this to say, if you are figuring out your credit card debt, you’re in the majority and that’s why I’m so excited about this class! Learn more about Tackle Your Debt here.