Did you know that using a credit card can lead to spending more money than you can imagine … or even thought? You have discovered the ultimate money pit.

When you use a credit card and don’t pay off the balance each month you can easily triple the debt you started out with … did you know that … or realize it when you did the initial buy on time?

Here’s what happens … you will pay interest on interest on interest after each billing cycle … until you manage to pay the debt off—many times years later. If you look at a credit card statement, routinely, there is a tiny boxed notice that says: if you pay in one year, you full payment will be ____. If you pay over seven years, it will be ____.

Whatever the amount is, I promise you, it will be HUGE in comparison to what the original amount was!

If you buy on time, do you and your bank account a favor. Commit to one year max for payoff when using your credit cards. And stash the extra interest you would have been charges into a savings account—or redirect it to pay off another credit card.

Patricia Lane Williams, CPA has worked with thousands of men and women sounding the warnings. She is the author of the Amazon bestseller, Money: Get It. Save It. Grow It … Before Debt Steals It.
Her website is www.PatWilliamsAuthor.com.