Teaching the basics of credit cards
The perils of paying the credit card minimum after unabashed charging
Over the years I’ve had friends end up with massive credit card debt. My friends amassed the debt by spending unabashedly and then only paying the monthly minimum.
It’s not surprising a person might think it is fine to pay the credit card bill minimum. Paying the minimum is offered front and center on the bill.
In fact, the words “Pay the minimum” almost endear like a friend helping when you are in need. “Don’t worry about it. We all at times spend…