The Retirement Challenge: Will You Sink or Swim?

Lesson 33 Cleaning Up Credit Card Debt

Many people use credit cards responsibly. They buy no more than they can afford and pay off the entire balance each month. Properly used, they are a major convenience. Who in their right mind wants to haul around piles of cash just to buy milk at the grocery store?

Then there are credit card junkies. They finance their lifestyle on easy credit while sinking any chance to develop a net worth. Their debt and service costs just grow and grow as they indulge themselves while making or occasionally missing the minimum monthly payment schedule. You know which one you are.

Giving up your credit card habit may be tougher than quitting smoking, but it’s just as important to your financial health as cleaning ...