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Episode 70: Credit Card Debt Explained

Episode 70: Credit Card Debt Explained

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 American household debt hit a record $16.9 trillion at the end of 2022, up $2.75 trillion since 2019, according to the Federal Reserve. If you had to write that check it would read $16,960,000,000,000. Americans owe $986 billion on credit cards, surpassing the pre-pandemic high of $927 billion. An even more interesting fact is many Americans are unaware that their credit card usage actually makes more money for the same banks that their signing up with to purchase these cards. In today's episode host of The Wealth Principles explains of the significance having credit card debt plays on being able to own a home, paying extra bills and for some debt exceeding their lifespan amongst other things. This episode is focused on the importance of paying off credit cards debt and being able to live your life stress and debt free. You can stream today's episode on Spotify Apple PodcastYouTubeTo become a host on The Wealth Principles email: Charlesdanso12@gmail.com Thank you for tuning in to today's episode.

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