credit card debt – Debra Newby Watkins CPA

Credit Card Debt Assistance

This month we’re looking into specific personal finance related links that may help our customers best manage their money. As we near the holidays, it’s always tempting to spend just a little extra on credit but it pays to beware of interest rates and fees. These can make it way less fun in the future when all the bills come due. Worried about your spending or find yourself in significant credit card debt?

Sign up for Life Kit’s Credit Card Debt Newsletter and learn tips and tricks to both avoid and deal with credit card debt.

Growing Credit Card Debt

Some families were able to pay down credit card debt during the pandemic but in the last two years, with rising food and fuel prices many have had to return to credit card use. One family who had reached financial stability in 2020 has already maxed out two new cards for food and rent. Late fees, rising interest rates, global turmoil, and widespread job losses could add to the financial burden that may families experience in the coming months.

More debt, higher fees: Credit card borrowers face mounting burdens